Baton Systems (“Baton”), the global fintech digitally transforming post-trade processing using distributed ledger technology (DLT), has announced the appointment of Ravindra Madduri as Global Head of Product.  

Ravi brings a wealth of experience in the Payments and Cash Management space to Baton, with the bulk of his career spent in product functions at leading corporate banks such as Citi, ABN AMRO, RBS and Barclays. He joins from fintech Paysend, where he previously served as Head of Enterprise B2B Products.  

Reporting to Baton’s CEO, Arjun Jayaram, Ravi will be based in London, with an immediate focus on ensuring that the overall product strategy is aligned with client requirements and the overall growth trajectory of Baton Systems.  

Ravi will be involved with all aspects of the product lifecycle, including product management, delivery, and design management. He will be immediately taking responsibility across the suite of products for execution and implementation, ensuring that product development and maintenance are closely aligned with client needs. 

Arjun Jayaram, CEO of Baton Systems, said: “We are thrilled to announce the appointment of Ravi as our Head of Product. With over two decades of experience in building products, Ravi has a proven track record of delivering reliable and high-quality products for large banks and corporations.

“His expertise will be a valuable asset to our team as we continue to innovate and improve our industrial-grade, complex, and highly reliable and secure payments product on top of DLT, which moves tens of billions of assets value every day quickly, efficiently, and with lower risk. With Ravi’s leadership and strategic vision, we are well-positioned to scale our product offering to nearly a thousand clients over the next few years and meet the growing market demand in a rising interest rate environment.“

Commenting on his appointment, Ravindra Madduri commented: “After a year defined by increased funding costs due to the effects of high volatility on margin requirements, as well as rising settlement risk in the FX space, the need for market participants to be dynamic in the way that they react to these developments is significant. Baton is completely changing the landscape for post-trade processing, and due to their unique approach, they are perfectly positioned to help financial institutions tackle these challenges head on.”

“The massive interest from the market in Baton’s solutions was one of the key drivers that made this move such an attractive proposition. I’m incredibly excited to get to work with Arjun and the wider Baton Systems team to support financial institutions to adapt to the trading conditions of 2023 and beyond.” 

Ravi’s appointment comes as Baton continues to focus on bringing greater efficiency and reducing risk in key post-trade processes such as collateral management, FX settlement, and payments. 

Oxx, the leading B2B SaaS investor partner, today announces the promotion of Bob Thomas and Phil Edmondson-Jones to Partner, and Ingrid Bonde Åkerlind to Principal.

Oxx’s first hire in Stockholm, Bob Thomas joined Oxx in 2018 and has been integral in developing the firm's people-first philosophy and specialist SaaS investment focus. He has a background in tech mergers and acquisitions banking and management consulting, as well as previously serving as CFO at a SaaS company.

Phil Edmondson-Jones joined Oxx as a Principal in 2020, after spending four years at Beringea, a transatlantic venture and growth capital investor. He has a deep understanding of what it takes to scale SaaS companies, and was instrumental in developing Oxx’s Go-To-Market Fit Toolkit. He’s applied his specialist SaaS expertise to back businesses in fintech/insurtech, vertical AI, martech and more.

Ingrid Bonde Åkerlind joined Oxx in 2020 and brings a wealth of operational experience to the team. Her extensive background in growth and marketing makes Ingrid an expert in SaaS Go-To-Market strategies, with a particular interest in Product-Led Growth. Last year she took a leading role in developing Oxx’s Go-To-Market Fit playbook.

In addition to identifying and securing investments in several of our portfolio companies, Phil, Bob and Ingrid have consistently provided deep expertise and industry knowledge in interacting with Oxx’s portfolio companies and external stakeholders, building strong relationships, and establishing themselves as trusted advisors to founders and management teams.

Mikael Johnsson, Co-Founder & General Partner at Oxx says, ‘Perhaps more important than anything else, Bob, Phil and Ingrid have all shown their commitment to building a firm deeply anchored in a set of core values that transcend every part of our operation and every single interaction we have with people both outside and within our organisation.’

Richard Anton, Co-Founder & General Partner at Oxx says, ‘As the founding Partners of Oxx, it has been an absolute pleasure for myself and Mikael to see these individuals grow and take on increasing responsibilities within our organisation. Their dedication, hard work and expertise have played a key role in building Oxx to where we are today. We are proud to have such talented individuals on our team and can’t wait to see what the future holds for them in their new roles.’

Global payments technology company BPC  has been named as one of the world’s leading digital banking providers in a recent report by Celent, a top international financial research and consulting firm.  

Aimed at helping financial institutions formulate comprehensive business and technology strategies, the publication, titled ‘Retail Digital Banking Platforms: International Edition’, sheds light on trends in digital banking, including the race to cloud adoption, a single platform approach, end-to-end customer lifecycles, open ecosystems and marketplaces, embedded AI and customer engagement. 

After a comprehensive review and analysis involving 13 vendors, BPC’s SmartVista Digital Banking was singled out by Celent for its proven, world-class technology and functional capabilities as well as client reviews. 

Used by hundreds of companies around the world, SmartVista Digital Banking is a solution for retail, SME and merchants that includes a unique multirole feature. 

Oleg Patisansky, Head of Digital Banking at BPC commented: ‘We are thrilled to have been recognised by Celent for our banking solution. Celent is the world top’s leading research firm, therefore it is an honour to be named in their report and is further testimony to the quality of our technology and our commitment to client services and innovation.’ He pursued to strengthen how BPC differentiates in the digital banking scene ‘While the pandemic is driving the rise in consumer digital adoption and the creation of MSME, BPC anticipated the need for an app that could serve the client on his personal and business account by switching profile rather than switching apps or banks. Furthermore, with the economic environment changing at a faster pace than ever, we foresee new needs for both consumers and businesses to take more control over their finances but also do much more in support of their lifestyle, their wealth and their business growth. We believe that an account and a card are no longer sufficient, super apps and digital ecosystems are the way forward’.

Bob Meara, Principal Analyst, Celent, said, “Banks that are looking to capture and retain their customer base must ensure that they can offer services that clients expect in a burgeoning, mobile-first, digital economy. BPC’s solution has a proven track record for delivering exceptional technology and customer support to banks during their digital transformation and has earned its place as one of the world’s luminary vendors in our report.”

BPC has been at the forefront of the digital revolution for over 25 years, serving over 350 financial institutions in over 100 countries with state-of-the-art banking and payment solutions.

Jumio, the leading provider of automated, end-to-end identity proofing, risk assessment and eKYC solutions, today announced the record-breaking close to a successful 2022 in which Jumio became the first identity company to clear well over $200 million in bookings. Q4 also saw Jumio close both the largest new deal and the largest total deal in company history. 
 
This record close to 2022 speaks to the sophistication of online business and the growing need for modern enterprises across all industries and geographies to truly know and trust their end users online. 

“Jumio’s performance in 2022 and clearing $200 million in bookings speaks to the growth of the identity industry and also of our clear role as the leader in the space,” said Jumio CEO Robert Prigge. “Despite the extremely daunting global environment, we continue to manage our business closely and focus on execution so we can evolve with the climate, and it continues to pay off. This allows us to further accelerate our investment in Jumio’s core technology and innovation in our ongoing mission to eradicate online fraud worldwide.”

Other notable 2022 achievements include: 
 • KYX Platform — In October, Jumio unveiled its extended KYX Platform, with an integrated orchestration hub benefiting from the company’s acquisition of 4Stop. One month earlier, Jumio achieved SOC2 Type 2 certification for the platform with zero exceptions, demonstrating Jumio’s long-standing commitment to maintaining the highest levels of security. The platform negates the need for point solutions by bringing together global data, risk signals, real-time analytics, actionable insights and a configurable rules engine to help businesses quickly and easily defend against fraud without compromising user experience.
 • Key Executive Hires — Susan Walker joined Jumio as a chief financial officer in May, bringing more than 25 years of corporate, Wall Street and business strategy experience. Jumio CTO Stuart Wells joined in April after nearly a decade at FICO, where he served as executive vice president and chief product & technology officer.
 • Gartner Representative Vendor — Jumio was recognized as a Representative Vendor for the fourth consecutive time in the latest Gartner Market Guide for Identity Proofing and Affirmation, published in March. The Guide also lists Jumio among orchestration vendors that “connect to a range of identity proofing and affirmation vendors, as well as vendors focusing on fraud detection and user authentication.”

Recognising the most prestigious brands in finance and fintech in the Middle East and Africa

Setting the standard for excellence in the fintech and financial services industry, the UF AWARDS count among the most coveted accolades that a B2B or B2C brand can attain. Winning an UF Award shines new light on the merits of industry players competing for the same target market. The UF AWARDS MEA are no exception. Crowning the best brokers and the best B2B fintech companies in the Middle East and Africa, they distinguish those industry leaders who continue to innovate and reinvent themselves to keep up with the industry’s transformational pace.

Organised to the finest detail by Ultimate Fintech, the UF AWARDS MEA 2023 Ceremony concluded this year’s edition of the iFX EXPO Dubai. On the 18th of January, the exclusive ceremony congregated the best of fintech and financial services under the roof of the Orange Feels Bar - Hotel Indigo Dubai Downtown to applaud the best B2B and B2C brands in the Middle East and Africa.

From the dozens of companies competing for an UF Award this year, only a few winners emerged. And these winners are….?

Broker Awards

Best Multi-Asset Broker - MEA: Exness

Most Transparent Broker - MEA: Vantage

Best CFD Broker – MEA: AAAFx

Best ECN/STP Broker- MEA: Fxview

Best IB/Affiliate Programme – MEA: Exness

Best Trading Experience – MEA: Vantage

Best Education Tools – MEA: YaMarkets

Best Forex Spreads - MEA: Tickmill

Most Innovative Broker – Africa: Kwakol Markets

Best Broker – Africa: JustMarkets

Most Trusted Broker - Middle East: MultiBank Group

Best Broker - Middle East: OneRoyal

B2B Awards

Best Trading Platform - MEA: Match-Trader Platform

Best Social Trading Solution - MEA: ZuluTrade

Best Multi-Asset Liquidity Provider - MEA: Match-Prime Liquidity

Best Connectivity Provider - MEA: oneZero

Best Bridge Provider - MEA: Centroid Solutions

Best Technology Provider - MEA: Your Bourse

Best Risk Management Solution - MEA: Centroid Solutions

Best Client Onboarding Solution - MEA - Shufti Pro

Best Crypto Solution for Payments - MEA: Match2Pay

Best All-In-One Brokerage Solution - MEA: Quadcode

Best RegTech Reporting Solution - MEA: Shufti Pro

Best Trader Retention Tool - MEA: Solitics

Fastest Growing Technology Provider - MEA - PLUGIT

Most Outstanding Innovator in Crypto Payments - MEA: Capital Wallet

Best Fintech AI Solution - MEA: Shufti Pro

Best Payment Service Provider - Africa: Swiffy

Ultimate Fintech would like to thank everyone who participated in the UF AWARDS MEA 2023 and, of course, “Congratulations!” to the worthy winners.

Integral, a leading currency technology provider to the financial markets, announced the launch of Integral Digital, a full extension of its award-winning trading and client distribution platform to support cryptocurrencies and fiat-backed stablecoins.

Developed in conjunction with Mint Exchange Inc., a leading institutional crypto exchange, the new platform supports Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ripple, Stellar, CoDEX and 100+ ERC-20 tokens. Services include aggregation and connectivity to over 30 crypto liquidity providers, desktop and mobile client trading, risk management, and hot and cold wallet custody solutions. Integral Digital is available on a monthly subscription basis and can easily integrate with in-house and third-party providers via FIX and Rest APIs.

In addition, Integral Digital offers a fully integrated Prime Brokerage solution providing direct market access to multiple exchanges and market makers via a single account, maximizing netting across multiple venues and significantly reducing collateral requirements.

“In one big step, Integral is reshaping the landscape of digital asset technology. By extending the leading fiat currency technology, which processes more than $1 trillion in monthly transactions, digital asset businesses no longer need to settle for sub-par technology and credit solutions. Together with our partners at Mint Exchange we are able to bring direct connectivity to every major source of crypto liquidity combined with state-of-the-art custody solutions and the highest availability trading infrastructure, all delivered from our cloud datacenters in New York, London, Tokyo and Singapore,” said Harpal Sandhu, CEO of Integral.

The new offering is available now and serves both regulated and unregulated digital asset businesses globally.

Coincover, the leading digital asset protection technology company, today announces a new partnership with Fireblocks, an easy-to-use platform to create innovative products on the blockchain and manage day-to-day crypto operations. The partnership provides Fireblocks customers with a secure alternative for key backup and disaster recovery to ensure that users have access to and are in control of their assets at all times. 

As a non-custodial and direct-custody technology provider, Fireblocks believes that users should have total control of their own assets, including where and how they store their assets, in order to further mitigate counterparty risk. With this objective in mind, Fireblocks provides disaster recovery options for how customers recover from a loss of access to their keys or how customers may recover in the event of Fireblocks service disruptions. Fireblocks requires all customers to either: independently backup their keys; engage the disaster recovery services of a third-party service provider, such as Coincover; or use a combination of self-storage and third-party disaster recovery service for added redundancy and recoverability. 

“For Fireblocks, having full control over one’s assets is firmly at the core of our principles. A major part of that includes our customers’ ability to recover their own private keys,” said Adam Levine, Vice President and Head of Corporate Strategy at Fireblocks. “Our partnership with Coincover provides our customers with an additional layer of security in the event that our customers lose access to all their key shares. When used in combination with self storage, our customers are guaranteed business continuity, even in the face of market disruption.” 

Oliver Cummings, Strategy & Partnerships Director at Coincover added: “It’s no secret that losing access to assets is the most pressing threat to crypto adoption; our research revealed that almost two-thirds (65%) of people are worried about the rise of crypto fraud. Recent events in the digital asset market have shaken the trust and confidence of both retail investors and institutions to the core. We believe that crypto security and investor protection in digital assets hold the key to market recovery. The industry needs to build more security into every facet of its operations to prevent these instances of digital theft and instil confidence in the market again.”

Cummings continued: “Early pioneers may have been comfortable with managing their own risk, but – for wider adoption – investing money with a digital wallet or exchange should feel as safe as storing cash in a bank. We are delighted to partner with Fireblocks – one of the fastest growing businesses in the blockchain space – to help accelerate our mission to make digital assets safe for everyone to hold and use. As Fireblocks has already been so proactive in helping customers secure themselves against loss of access to their digital assets, this new partnership will no doubt help in moving the dial towards greater adoption of crypto, as investors finally have a solution that can mitigate this risk." 

JCB International Co., Ltd., the international operations subsidiary of JCB Co., Ltd., today launched a new European-focused brand marketing campaign, dubbed #BetterWithOmotenashi. The eye-catching campaign visuals highlight the company’s distinct proposition, Japanese heritage, and its focus on being a valuable service-led brand, dedicated to providing customer excellence. Developed in collaboration with the global B2B marketing and branding specialist agency, Transmission, the new campaign showcases unique themes and striking illustrations. These are tied to JCB’s expertise and brand values, and mark the start of a refreshed and transformed brand identity for the payments giant across Europe.

As a prestigious payments brand in Japan and across Asia, JCB is focusing its efforts on increasing international brand awareness amongst its key target audience, including acquirers and merchant partners across the European region. Launching across key regions, including the UK, Germany and France, the campaign emphasises the Japanese principle of omotenashi, JCB’s business ethos of placing importance on the highest standards of hospitality, care, support and understanding. Through these principles, which are at the heart of JCB’s approach to partnerships, the company hopes to build a refreshing and unique way of doing business in Europe.

An initial brand audit and benchmarking process found that JCB Europe had strong brand equity in the following four areas:

• Asian cardmember insights and specialism
• Bringing a valuable customer base to acquirer and merchant partners
• Collaborative customer-centric partnerships based on trust and reliability
• A strong commitment and dedication to Japanese business principles

Building on these research insights, the #BetterWithOmotenashi campaign positions JCB as a global payments brand, with a valuable cardmember community, combined with the company’s intrinsic business focus of its omotenashi principles.

To bring the campaign to life and differentiate it from the photography-led campaigns of other payments brands, JCB and Transmission partnered with renowned British illustrator and artist, Brian Grimwood, to develop bespoke illustrations, invoking the brand’s heritage and focus on service through care and understanding.

Following a successful test phase in Q4 2022 across social media and programmatic advertising, JCB is now launching the full rollout of the campaign across online business, financial and payments industry media.

Ray Shinzawa, Managing Director, JCB International (Europe) Ltd., said: “JCB offers a truly distinctive proposition for our partners across Europe to tap into Asian consumer spend and build their business, differentiating ourselves through a 60+ year track record of reliability and expertise, combined with our unique focus on Japanese principle of omotenashi. Through this campaign, we are showing our prospective audience how JCB delivers the highest standards of customer care, support and protection, providing seamless, trusted payment experiences to our partners and Cardmembers alike.”

Victoria Perea-Usher, Vice President, Marketing Communications, JCB International (Europe) Ltd., said: “We are increasing our marketing efforts across Europe, and have a razor-sharp mandate on building a more valuable brand for our business partners. This transformational commitment for a refreshed brand identity starts with #BetterWithOmotenashi. We want our audience to internalise JCB’s core values and remind themselves that we will continue to build on our mission, one trusted partnership at a time. In fact, our new brand campaign was curated and created with, and for, our business partners across Europe.”

Sygnia, a leading cyber technology and services company which provides high-end consulting and incident response support for organizations worldwide, today announced that it has expanded its incident response and proactive security services to include a managed extended detection and response (MXDR) service. Sygnia’s MXDR is technology-agnostic and a 24/7 fully managed security operations service that includes monitoring, threat detection, forensic analysis, accelerated investigation, and a rapid transition to incident response when needed.

The service is operated by Sygnia’s elite teams with extensive nation-state-level cyber warfare knowledge, advanced offensive and defensive capabilities, and decades of experience detecting, containing, and defeating cyber-attacks for the world’s most prominent enterprises, including Fortune 500 companies.

“The service leverages our proprietary XDR, a vendor-agnostic platform for security detection and response that was developed by Sygnia for Sygnia incident responders and has been battle-tested defending thousands of engagements,” said Yanir Laubshtein, Sygnia’s Vice President of MXDR. “Our XDR is designed for rapid deployment, with hundreds of out-of-the-box integrations and a proprietary, light-weight and non-intrusive agent for faster deployment and maximum visibility of the enterprise going forward.”

Sygnia’s MXDR overcomes one of the key industry challenges facing MXDR clients: successful integration of the service. Sygnia takes a tailored approach to MXDR, to ensure precise service alignment with the organization’s cyber fabric, personnel, and policies.

Key benefits of Sygnia’s MXDR service include:

• Accelerated threat detection driven by the latest field intelligence from Sygnia’s IR team into threat actor tactics, techniques and procedures
• Enhanced investigation with complete remote forensics capabilities
• Faster containment and eradication of attackers with a seamless transition from monitoring to response
• Operated by highly experienced A-teams with extensive cyber warfare and enterprise security experience

“Over the past several years, Sygnia has seen the threat landscape evolve to become more dynamic and dangerous,” said Ram Elboim, Sygnia’s CEO.  “With our MXDR, we can support organizations with a holistic solution that transitions from preparation and proactive security services to detection and response across their entire enterprise.”

Register for the webinar: “Achieving MXDR Success: The Power of an IR-Driven Approach” on Thursday, 16 February 2023 at 10:00 am EST | 4:00 pm CET with Sygnia and featuring a guest speaker from Forrester. For additional information, visit Sygnia.co.