Adyen, the global financial technology platform of choice for leading businesses, today announced that it is partnering with BILL, a leading financial operations platform for small and midsize businesses (SMBs), to deliver advanced acquiring and issuing experiences for BILL's accounts payable (AP) and accounts receivable (AR) solutions. The partnership started with Adyen for Platforms' card acquiring and has grown to also include card issuing capabilities, marking a natural progression across Adyen's platform offering.

"Adyen's partnership with BILL is a prime example of how we prefer to grow with our customers," said Blake Breathitt, SVP of Platforms and Financial Products at Adyen. "We are proud to be a part of BILL's focus on helping SMBs thrive as we scale our relationship into card issuing with a category leader in financial operations. With our licensing framework and embedded financial products, both integrated together, we look forward to being a part of BILL's robust ecosystem of card products and services."

Adyen's card issuing services have been incorporated into BILL's virtual card offering as part of BILL Accounts Payable and Accounts Receivable solutions, enhancing BILL's suite of financial products and services. Adyen provides BILL with technology to drive further innovation and opportunities to help SMBs thrive through seamless payment experiences.

"Helping our SMB customers manage their cash flow means making their payments easy and secure," said Loren Padelford, BILL Chief Commercial Officer. "Because of their trust in BILL, our customers can easily make their payments and get back to running their business. We are pleased to work with Adyen to better ensure continued resiliency for our customers and their card products and services needs."

Wealth Dynamix, a leading provider of Client Lifecycle Management solutions, today announced Wealth Dynamix is available on Temenos Exchange, the partner ecosystem of integrated fintech solutions.

The Wealth Dynamix solution enables firms to support the full end-to-end client lifecycle, helping deliver more proactive, efficient, and engaging prospecting, onboarding, and relationship management, all while remaining fully compliant. Integration with the Temenos Suite enables a seamless and omnichannel approach across digital engagement to clients, end-to-end client and investment management, and a joined-up approach to operations across the front, middle, and back offices.

Temenos Exchange brings innovation to market faster, and at scale. The ecosystem offers pre-integrated and approved FinTech solutions that can be easily deployed on top of Temenos open platform for composable banking, enabling banks to accelerate the creation of new financial services, while reducing the costs of development.

Martin Bailey, Director of Innovation and Ecosystems, Temenos, said: "Temenos Exchange acts as an accelerator for fintechs and software developers, helping them develop, validate, and monetize new banking solutions. The integration with Temenos and joining Temenos Exchange means Wealth Dynamix can write once and be readily available to the thousands of banks globally that run on our platform."

Gary Linieres, CEO at Wealth Dynamix said: "Having already worked together on several joint clients, the formalization of this strategic partnership provides for Wealth Management & Private Banking firms full end-to-end solutions, covering the full lifecycle from the initial prospect, through to ongoing client relationship management."

"Wealth Dynamix availability on Temenos Exchange further extends our commitment to the banking community and enables Temenos customers to easily reap the benefits of Wealth Dynamix. We look forward to leveraging the power of the Temenos platform to help us achieve our business goals."

At Wealth Dynamix we work with wealth management firms and private banks to help create a seamless set of CLM capabilities, delivering our solutions across the whole CLM spectrum, or focusing on specific areas such as client onboarding and working with a firm's existing architecture.  

We use intelligent technology to free staff from 'administrative burden', by streamlining operational processes to allow them to focus on proactively providing exceptional client experiences to a broad clientele while ensuring cost-effectiveness, compliance, and scalability.  

Our solutions support the broadest range of firms, from 10-person boutique investment managers and UHNW multi-family offices to global mass affluent wealth managers and global private banks.

Bank of Ireland has announced a landmark investment of more than €60 million in a range of branch improvements, including the Bank’s largest single investment in ATMs in the last decade. Starting later this year, a new fleet of state-of-the-art ATMs will be rolled out to all branches throughout the Island of Ireland between now and 2027.

The new fleet (664 ATMs) has greater cash processing capacity and will slash energy use by more than half. The ATMs can be used for both withdrawals and lodgements and the majority will ‘recycle’ cash (i.e. cash deposited can be used for withdrawals). This maximizes ATM availability, supporting customers with better access to cash when they need it. The investment also covers five years of servicing and maintenance.

As part of this package of investment, during 2024 customer areas in 18 branches* will also be refurbished, access will be improved at some locations, and colleague facilities will be upgraded in at least 15 branches. Further branches will be refurbished in 2025 and these will be announced in the future.

Commenting on the investment in branches and ATMs, Susan Russell, CEO, Bank of Ireland Retail Ireland said:

“Like any other company, being profitable allows us to improve our business. Given the large number of customers which we serve, major re-investment is required every year. I’m really happy that this latest investment will see all customers across all countries benefit with the most modern and efficient ATMs, whilst also supporting our ESG ambitions through energy reduction.

“We are always investing to ensure customers have access to cash and other banking services in a modern and comfortable environment. Each year we refurbish many of our branches and that’s a constant, rolling project of enhancements.

“As a full service retail bank, with a presence in communities throughout the island of Ireland, we are committed to continually improving our services and the financial wellbeing of customers. This means re-investing purposefully in branches, contact centres, technology, ATMs and other infrastructure to ensure our customers have the most modern and efficient banking available.”

In addition to the €60 million investment in branch and ATMs announced today, a €36 million project for the Bank’s iconic College Green buildings will also commence this year. This is the largest single investment in College Green in more than 200 years and will improve facilities for customers and colleagues, undertake a range of repairs, upgrading, and restoration work, and significantly improve the energy efficiency of the complex.

Last year saw €11.5million invested in enhancements to our branch network – this included refurbishments to 21 branches, upgrading of cash services, improvement of colleague facilities, and installation of energy-efficient LED lighting across all branches.

Nexi, the European PayTech leader, has announced that its group-wide CO2 reduction goals have been approved by the Science Based Target initiative (SBTi). The SBTi is a partnership between CDP (formerly the Carbon Disclosure Project), the United Nations Global Compact, the World Resources Institute (WRI), and the Worldwide Fund for Nature (WWF). It urges companies worldwide to half their emissions by 2030 and achieve net zero emissions by 2050.

“The commitment to sustainability and the fight against climate change represents an absolute priority for institutions, wider society, and investors, but also for companies like Nexi, who can play an important role in improving the ecosystem in which they operate. In 2021, Nexi committed to achieving net zero greenhouse gas emissions by 2040, ten years ahead of the target established by the Paris Agreement, in the framework of a wider process to integrate ESG targets in its business. Thanks to the transformative actions that will involve our whole value chain, from our facilities and data centers to the use of renewable energy and the mobilization of our suppliers, our business will become more sustainable and environmentally friendly, in the interest of all our stakeholders and with a positive impact on the whole industry,” commented Paolo Bertoluzzo, CEO of Nexi Group.

With the targets approved by the SBTi, Nexi commits to reducing absolute Scope 1 and 2 greenhouse gas emissions - those generated directly by business operations - by 42% by 2030, starting from the 2021 baseline. The Group also commits to increasing its annual electricity supply generated by renewable sources from 51.7% in 2021 to 100% by 2030. 

Nexi is also committed to decarbonizing its supply chain by mobilizing its suppliers to adopt CO2 reduction targets. By 2027, this Scope 3 objective will involve two relevant areas of Nexi's supply chain:

• The procurement of goods and services, with 78% of suppliers involved, based on expenditure.
• The procurement of capital goods, with 70% of suppliers involved, based on their GHG emissions, starting from the 2021 baseline. 

Finally, in the long term, the Group is committed to achieving net zero by 2040, reducing absolute Scope 1, 2, and 3 GHG emissions by 90% and using carbon credits to offset the residual emissions.

Among the transformative actions already in place, Italy’s data center optimization project aims to reduce electricity consumption by 21.9% in 2024, compared to 2021, equivalent to about 3.7 million kWh per year. Reducing the energy consumption of the facilities and the cooling equipment and widespread technological modernization will contribute to achieving this goal.

Transak, the leading payments infrastructure provider for crypto and NFTs, has announced a strategic collaboration with Visa,a world leader in digital payments, to implement Visa Direct capabilities and help enhance its global off-ramp service.

This collaboration marks a significant milestone by enabling users in over 145 countries to seamlessly convert their cryptocurrency holdings into local fiat currencies.

Addressing the Gap: Crypto-to-Fiat Conversion for Everyone.

In the race towards faster and easier crypto adoption, the ability to exit the market has taken a back seat. Most platforms and gateways are highly optimized for fiat-to-crypto conversions, but the reverse is not true.

Many consumers need a fast, secure and compliant way to exit the crypto market — a fitting tribute to the liquid nature of cryptocurrencies.

The bridge to convert crypto to fiat is missing for most people.

As a result, they are stuck parking their funds in stablecoins or resorting to other methods of cashing out that may fall in the gray zone of local regulations.

“By enabling real-time card withdrawals through Visa Direct, Transak is delivering a faster, simpler and more connected experience for its users — making it easier to convert crypto balances into fiat, which can be spent at the more than 130M merchant locations where Visa is accepted,” said Yanilsa Gonzalez-Ore, North America Head of Visa Direct and Global Ecosystem Readiness.

A Revolutionary Step in Crypto-to-Fiat Transactions

One of the most significant features of Visa Direct is its ability to process transactions in real-time. This means that money can be transferred almost in 30 minutes or less, which is a significant advantage over traditional banking methods that can take days. Combining this with Transak’s robust infrastructure and support forover 40 cryptocurrencies, the collaboration welcomes a new dawn for those who want to quickly exit the crypto market.

In traditional banking systems, converting and transferring funds, especially across borders, can be a slow and cumbersome process. This collaboration can help dramatically reduce these delays, allowing users to swiftly and securely access their funds in their local currencies.

Meanwhile, Transak's presence on 350+ leading Web3 wallets and games like MetaMask, Trust Wallet, Coinbase Wallet, Ledger, Splinterlands, and Decentraland ensures widespread accessibility. It places crypto-to-fiat conversion at the fingertips of millions of users globally. These platforms are already familiar to many within the crypto community, and their use extends beyond mere storage of digital assets to include various interactive and transactional activities in the Web3 space.

Emphasizing the impact of this collaboration, Sami Start, Co-founder & CEO of Transak remarked, “We believe this partnership is an inflection point for Web3 as a whole. Now, millions across the globe have a straightforward way to cashout their digital asset holdings to their local currency in real-time and intuitively. They no longer have to walk the treacherous path of compliance uncertainty or face risks of fraud — Transak and Visa have them covered for over 40 cryptocurrencies.”

A Big “W” For Crypto

Transak is widely known for its rapid product shipments for Web3 onboarding. Visa Direct is one of the global leaders in Web2 payments.

The collaboration of Transak and Visa Direct is a crucial step towards the maturation and mainstream acceptance of digital currencies.

This collaboration is about bridging a gap that has long been a bottleneck in the crypto world: Converting cryptocurrency holdings into a local fiat currency quickly.

The ability to easily convert cryptocurrencies to fiat efficiently is not just a convenience – it dismantles the barriers of complexity and uncertainty that have hindered crypto adoption among the general public.

Ajman Bank has initiated a collaboration with Mastercard aimed at leveraging the technology giant’s innovative solutions to drive sustainability. The award-winning bank will implement Mastercard’s Carbon Calculator and sign its UAE Sustainable Cards Pledge.

Developed by Mastercard in partnership with Swedish fintech company Doconomy, the Carbon Calculator allows consumers to receive a snapshot of the estimated carbon emissions generated by their purchases. It also offers them the option to contribute to reforestation through Mastercard’s Priceless Planet Coalition. Banks and financial institutions can seamlessly integrate the feature into their mobile apps through APIs that are available on Mastercard Developers website.

Announced at the 28th UN Climate Change Conference (COP28) in Dubai, the UAE Sustainable Cards Pledge mobilizes the country’s banks to switch to cards made from more sustainable materials- including recycled or bio-sourced plastics such as rPVC, rPET, or PLA1 - by 2025. This makes the UAE the first nation in the world to do so three years ahead of Mastercard’s global deadline of 2028. The initiative has witnessed a strong uptake among key industry players, which means that 80% of Mastercard cards issued in the local market from 2025 will be made from more sustainable materials. To date, 576 issuers from 100 countries have signed up to transition 449 million cards across Mastercard’s network.

The company is supporting its issuing partners through the transition away from first-use PVC by connecting them with approved suppliers they can use to produce their cards. It has also prepared a dedicated toolkit that will assist them in converting their card portfolio.

“As a natural extension of our long-standing strategic partnership with Mastercard, our latest collaboration is in line with our commitment to sustainability and the UAE's net-zero ambitions. By integrating Mastercard's innovative Carbon Calculator into our services, our objective is to empower our customers to make more environmentally conscious purchasing decisions. This, along with our active participation in the UAE Sustainable Cards Pledge will help us reduce significantly the environmental impact of our operations. By minimizing our ecological footprint our goal is to contribute positively to our planet's health and our community's well-being,” said Mustafa Al Khalfawi, CEO of Ajman Bank.

“At Mastercard, we actively contribute to building a sustainable world in line with our ethos of doing well by doing good. To realize this vision, we are developing products and solutions that harness the power of our global network to encourage environmentally conscious consumer behavior and promote sustainability across the banking and finance sector. We are delighted to see Ajman Bank reaffirm its commitment to sustainability through the signing of our UAE Sustainable Cards Pledge and making our Carbon Calculator available to its customers,” said Khalid Elgibali, Division President, Middle East & North Africa, Mastercard.

A 2021 Mastercard study shows that nine in 10 adults in the Middle East are willing to take personal action on sustainability issues. Over 72% of respondents in the region think it is now more important for businesses to do their part for the environment, and more than 25% are going to stop using brands that do not intend to behave sustainably. Meanwhile, nearly 15% admitted boycotting companies that have not adopted sustainable values. The top three issues the participants want companies to focus on include safeguarding the health and well-being of their employees, reducing air and water pollution, and offering more sustainable and durable products.

Global financial technology leader FIS® has today announced the launch of its 2024 FIS Fintech Hangout Series, an initiative that fosters and connects fintech startups, investors, financial institutions, FIS experts, and participants from the FIS Fintech Accelerator Program. This series will spark meaningful conversations, share best practices, and showcase the amazing work of the participating fintechs.

The Fintech Hangouts supports FIS’ 9-year focus on identifying, mentoring, and connecting innovative fintech startups with the broader financial services community. The program aligns with the FIS Fintech Accelerator Program, which has seen 80 graduates help advance innovation in financial services. Consisting of monthly thematic events, the series kicked off in January with a deep dive into the importance of risk and compliance, one of the biggest barriers to entry for prospective fintechs. The event broke down these challenges and what’s involved in setting up the relevant frameworks for fintechs to address these important regulatory priorities.

Neepa Patel, Founder and CEO of Themis was the featured speaker at January’s inaugural event. A 2022 graduate of the FIS Accelerator, Themis is the first compliance collaboration tool to help companies accelerate partnerships with vendors, banks, and fintechs. Patel shared her experience and insights on how to navigate the complex and evolving financial regulatory landscape and how to build trust and credibility with customers and regulators.

“We are thrilled by the reception of this new program and its role to inspire promising new fintechs and foster a deeper sense of community within the industry," said Annie Destefano, Head of Ecosystem Banking at FIS. "As the company that advances the way the world pays, banks and invests, we embrace our role in creating opportunities that help early-stage scale emerging tech more quickly and safely, to help modernize banking, bolster the economy and bring consumers closer to financial empowerment.”

The FIS Fintech Accelerator Program is a 12-week program that helps fintechs refine their product models and scale their businesses. During the program, bankers, subject matter experts, and financial service executives engage with pre-vetted, market-validated fintech companies. This provides financial institution leaders with the unique opportunity to work alongside each of the portfolio companies participating in the program and help refine their product models to suit customer needs. Accelerator graduates have a track record of success with four members - Lama AI, Forage, Sardine, and Array - just named to the GGCV U.S 2024 Fintech Innovation 50.

 ZILO™, the UK-based FinTech specialising in global asset and wealth management software continues building momentum with the appointment of leading industry figures to its board.  

The addition of Cuan Coulter, Executive Vice President, Head of UK and Ireland at State  Street, Adam Felesky, Co-Founder and CEO of Portage, James Devlin, Principal at Fidelity  International Strategic Ventures, and Pervaiz Panjwani, Managing Director, Securities Services at Citi adds significant industry insight and guidance to the ZILO™ Board.  

“These appointments demonstrate the high level of confidence that our new investors have in  ZILO™’s future. Their insight and judgement will have a significant positive impact on  ZILO™ as it continues its disruption in the sector.” Said Gordon Neilly, Chairman of the  Board at ZILO™.  

The Board appointments further support ZILO™'s leadership as it continues driving successful innovation in product design and enabling its clients to exceed their transformation ambitions.  These appointments follow the successful £25 million fundraise which saw ZILO conclude one of the largest Fintech Series A globally of 2023 (Click here for announcement). 

Amplifi Capital (U.K.) Limited announces it has secured £22.5m in funding from M&G Investments.  Amplifi Capital is the fintech disruptor behind the credit union broker and introducer brand My Community Finance. This significant investment marks a pivotal moment for the company, enabling the fast expansion of Reevo Money - its newest brand and own lending platform. 

As a pioneer in the financial technology sector, Amplifi Capital aims to revolutionise access to credit products for underserved households, ensuring affordable and inclusive financial solutions.  This investment will further bolster the company's mission to provide as many customers as possible with access to affordable lending, so they can confidently pursue their financial goals. 

Amplifi Capital is committed to responsible lending practices and strives to foster a culture of financial empowerment. By combining cutting-edge technology with a customer-centric approach, Amplifi aims to create a level playing field, granting individuals with near-prime credit scores equal opportunities to achieve their financial aspirations. 

This backing from M&G signifies Amplifi's growing influence as a major player within the industry. Amplifi's visionary initiatives, coupled with the rise of Reevo Money, will undoubtedly shape the future of the market and solidify its position as a force to be reckoned with. 

Tobias Gruber, CEO of Amplifi Capital (U.K.) Limited said: "Amplifi Capital are delighted that M&G are joining NatWest in supporting Reevo Money by providing £22.5m in mezzanine funding to complement the £100m NatWest facility. This gives us access to financing Reevo Money at an important time to enable us to continue offering customers access to credit when traditional lenders have turned them away." 

Vincent Charles-Gervais, Structured Credit portfolio manager, M&G Investments, said:  "M&G is pleased to be supporting Amplifi Capital's mission to provide affordable credit to underserved communities in the UK. The mezzanine funding will allow Amplifi Capital to support and broaden its lending offered through Reevo Money”.