Zumo, the UK-based wallet and crypto-as-a-service enterprise solution provider, has announced at Sibos 2022 that it has become the latest member of the World Economic Forum’s Crypto Sustainability Coalition.

Part of the wider Crypto Impact and Sustainability Accelerator, the newly formed coalition will explore how blockchain tools can be leveraged to contribute to meaningful progress toward positive climate action.

Earlier this month, Zumo won the Climate Innovation category at the 2022 Scottish Financial Technology Awards. Further building on its award-winning work to drive towards practical solutions and informed action in the crypto climate debate, Zumo will contribute to the outputs of the coalition’s targeted working groups in developing the guiding principles and toolkits for companies, regulators and start-ups to leverage the potential of blockchain to reach energy goals.

Particular areas of focus include a collaborative assessment of crypto sector energy usage; an examination of the potential of web3 technology to facilitate positive climate action; and further investigation of the usage of blockchain-based carbon credits.

Nick Jones, Zumo CEO, said:

“It’s extremely encouraging to see the level of coordinated activity that has emerged in this area since we started our own crypto decarbonisation journey.”

“As we all know, there’s a lot left to do and a long way to go; what we’re seeing, however, is the strands of this work in the crypto ESG space really coming together – and, perhaps, the beginnings of a shift in the narrative and the ability to see this technology not just as a problem, but as a potential force multiplier for good.”

“Making sure crypto and blockchain more generally develops in a way that caters to the needs of people and the planet is critical to Zumo and what we’re doing. We’re delighted to be invited to participate in this worthy World Economic Forum initiative, and to continue to build and collaborate with our fellow actors in the space.”  

Evin Cheikosman, Lead of the Crypto Sustainability Coalition, World Economic Forum, commented:

“Climate change is a global coordination problem. The current legacy system has failed to coordinate effective policies and capital investment into the commitments necessary to address the most pertinent threat to humanity. What is urgently needed are global coordination technologies that can transcend the mass bureaucratization of climate action. This is where web3 takes up the torch. I’m excited to work with climate innovative companies, like Zumo, to showcase the impact journey that the Crypto Sustainability Coalition is spearheading from climate challenge to web3 solutions.”

Prof. Cathy Mulligan, ERA Chair Blockchain and World Economic Forum, Crypto Impact and Sustainability Accelerator (CISA) Fellow (Working Group 1 lead), added:

"The most critical discussion the world has today is how to combat climate change; within cryptocurrencies measuring true environmental impact can often be more complicated than in other technologies. Within this working group, we have convened independent experts to create tools and guidelines to help those working in this space deal with this complex issue"

Axerve, Payment Partner to Grow and a specialist in creating accessible and frictionless payment solutions for E-commerce and physical sales, will be participating as a gold sponsor at the IRX @DTX+UCX event. Taking place at the ExCel on the 12^th and 13^th of October 2022, IRX (Internet Retailing Expo) is a benchmark Ecommerce event which will host a variety of key experts and industry-leading speakers and showcase the latest revolutionary technology within the E-commerce sector. This year’s IRX will be co-located with DTX (Digital Transformation EXPO) for the first time in the event’s history.

Alessandro Bocca, CEO of Axerve, will be in conversation with Mark Shaw, Director of Global Payments Strategy of Spotify, during the keynote speech “Payment Orchestration for a Fluid Customer Journey: a conversation with Spotify”. Axerve and Spotify will focus on sharing experiences and insights from two different perspectives on the complex payments world: Axerve as a leading European payment provider and orchestrator and Spotify providing insights from the standpoint of an international brand interfacing with a diverse subscriber and customer base. From the conversation, practical examples will emerge to inform the audience of the different strategies which increase Ecommerce authorisation rates whilst simultaneously improving the customer experience, leveraging the testimony of Spotify and its payment optimisation needs.

Undoubtedly, consumers’ demands have grown exponentially in the post-Covid environment, particularly in terms of their wants and needs in the E-commerce space and most significantly when it comes to the check-out process. Therefore, it is imperative that new solutions are developed to address these demands for ease of payment that is both secure, fast and compliant. The payment process is a milestone within the customer journey and a crucial point for businesses and comes with a lot of challenges, particularly when dealing with international recurring payments to ensure a simple, frictionless, and secure flow.

As a result of this increased complexity, merchants need to optimise the payment process and work closely with PSPs. Axerve’s Payment Orchestra^™ manages the interoperability between all the transaction processes and types and simplifies payment configurations due to new proprietary software architecture. In this way, payment orchestration can significantly cut the costs of multiple E-commerce integrations, allowing independence from payment service providers (PSPs). Its multi-solution integration system gives businesses the possibility to automatically switch payments to the best-performing provider at the time of purchase, resulting in industry-leading quick reaction times. This results in lower development and maintenance costs and an automatic and simpler reconciliation process.

Both Axerve and Spotify will demonstrate how the collaboration between PSPs and merchants is vital to effectively manage payments. Spotify will bring their experience as a top merchant and a brand that merchants can relate to. Axerve will illustrate how an E-commerce business’s ability to streamline the check-out and billing process by deploying payment orchestration tools can turn the current retail sector challenges they face, such as a stricter regulatory environment and increased payment method complexity, into opportunities to be competitive at a worldwide level, while saving on resources and fees and increasing overall payment authorisation rates and removing friction for customers. Mark Shaw will share Spotify’s valuable experience, as an international merchant, in navigating the increasingly complex world of payments, which nowadays demands merchants have a strong focus on ensuring seamless and secure payment processes while at the same time meeting customer expectations. 

During the event, Axerve’s Deputy CEO, Alessio Damonti, will also deliver two workshops to IRX attendees and delegates. The first one on the 12th of October at 3.00pm with Riskified on “How to make PSD2 work for you: Relying on the right partnerships and data-driven decisions”. The second one will be delivered on the 13th of October at 11.15am in partnership with Fabrick, a European pioneer in open finance and be hosted jointly with Fabrick’s Head of International Business, Simon Pearce and entitled “Payment and collection engine within a payment orchestration ecosystem”. Payment orchestration ecosystem (PACE) is a digital platform for the management of collections and payments. Fabrick promotes open finance through the development of innovative digital services, based on the logic of collaboration and Axerve is part of its open finance ecosystem.

At the start of September, Axerve published a new whitepaper titled, ‘Payment Orchestration: unlocking cost-effective E-commerce for merchants in a multiple payment provider ecosystem’. The paper explores the drivers for payment orchestration and assesses the positive impact that it is having on merchants across a range of sectors by supporting higher payment authorisation of up to 9% increase through the choice of the optimal acquirer, as shown by Axerve data.  To discover Axerve’s latest whitepaper please follow this link.

Axerve is part of the European fintech, Fabrick. The company not only offers an open finance ecosystem, but it also supports a diverse mix of institutions, international corporations, and retail chains by offering innovative technology and data security across global payment methods. Furthermore, Axerve helps its partners anticipate trends in the digital payments market. The Axerve payment platform processes more than 4 million requests every month, supporting customers in selecting the best solutions for their business and suggesting the most effective instruments to increase sales and boost loyalty.

Alessandro Bocca, CEO of Axerve, said: “Axerve is proud to participate at this year’s IRX@DTX+UCX event as a sponsor and share our experience as a payment provider and orchestrator alongside a leading merchant, Spotify. Today, many firms large and small are increasingly having to meet the needs of diverse customer bases spanning multiple geographies as the age of the internet and Ecommerce has opened them up to far-flung audiences, seeking to pay via a more diverse set of methods than we’ve ever seen before. This poses real technical challenges for many businesses that don’t know how to efficiently navigate the increasing complexity of managing billing and payments processes. Axerve is thrilled to accelerate the growth of businesses by making it easier for them to take payments and deliver seamless customer check-out experiences.”

OCR Labs Global, a world leader in digital ID verification, has appointed Joshua Read as Chief Operating Officer, a key senior hire for its continued international expansion. Joshua joins with over 25 years of experience in leadership of operations, partnerships and sales in software, data and information and communications technology (ICT) organisations.

As COO, Joshua will support and direct the global expansion of the business. His focus will be on building a high-performance culture and optimising business processes to enable OCR Labs Global to become the global partner of choice for identity verification and compliance.

Before joining OCR Labs Global, Joshua was the EVP of Sales and Partnerships at Yellowfin Business Intelligence International for close to three years and the General Manager of Partnerships, Consumer Risk, Fraud Prevention and Identity Management at Equifax for six years. He has also held senior leadership roles at KPMG Australia and Telstra Enterprise and Government. At Yellowfin Business Intelligence International, Joshua doubled contract ARR over 24 months, which contributed to the sale of the business at ~$100M. During his time at Equifax Australia, he was responsible for $110M recurring revenue across four lines of business, growing by 10 per cent year on year.

Joshua Read, newly appointed COO for OCR Labs Global, said, “It's rare to find an opportunity where relationships, corporate culture, and industry experience align. While negotiating a partnership agreement for Equifax, I met OCR Labs Global's Leadership Team and developed an appreciation for their unique technology and strategic approach.”

Read continued: “At Equifax, I gained a deep understanding of fraud prevention, identity, and know your customer verification challenges as well as the technology and the legislative landscape. With experience growing fintech companies and a vast partner network, I'm eager to help OCR Labs Global become a billion-dollar unicorn.”

John Myers, CEO of OCR Labs Global, added, “Joshua's track record of scaling businesses and global experience impressed us all. His experience managing operations for large organisations will be invaluable as we support our mission to make user verification effortless. We are excited to see what he can accomplish at OCR Labs Global as we move into our next growth phase.”

Joshua was recognised as part of the top one per cent Equifax executives list in 2018. He was placed in a three-month in-house executive leadership residency in Atlanta, USA, an opportunity reserved for only a limited number of people in the entire company. Joshua was also selected for the advanced executive leadership development programs at Telstra between 2009-2011.

OCR Labs Global is already supporting clients across many industries, including governments, crypto and a variety of platform-based businesses, such as SaaS providers. Customers include  Cognito, HSBC, ING, Reed, Vodafone, ZIP, BMW, Coinmetro and many others customers and partners.

Sage, the leader in accounting, financial, HR and payroll technology for small and mid-sized businesses (SMBs), today announces that it has completed the acquisition of Spherics, a carbon accounting solution to help businesses easily understand and reduce their environmental impact. 

The acquisition reinforces Sage’s commitment to sustainability, in line with its purpose of knocking down barriers so everyone can thrive. Sage has pledged to fight climate change and help protect the planet, by halving its own emissions by 2030 and becoming net zero by 2040, by supporting SMBs to get to net zero, and by advocating for policy and regulatory frameworks to support the transition to a low carbon economy. 

Spherics automates the process of calculating emissions by ingesting data from a customer’s accounting software and matching transactions to emission factors to create an initial estimate of their carbon footprint. The software then guides the customer to refine this estimate by submitting further data for a more accurate calculation - supporting SMBs on their journey to net zero. 

Spherics also helps SMBs apply carbon emission factors to procurement categories (such as delivery, accommodation, electricity and travel) to estimate the associated carbon footprint of a transaction. This approach supports customers with spend-based analysis and aligns with the Greenhouse Gas Protocol, the globally agreed standard for measuring carbon emissions. 

“We know that SMBs care about the impact they have on the environment, and our research shows that they want to work with suppliers and partners that can help them understand and address it,” said Amaya Souarez, EVP Cloud Operations, Sage. “The acquisition of Spherics represents an important milestone in our sustainability strategy. By combining Spherics’ innovative software with Sage's digital network, we are connecting businesses with their customer and supplier emissions data, enabling easy and collaborative climate action across value chains which helps to reduce carbon.”  

“Our vision and mission align very much with Sage’s core values, and we are excited to embark on this new journey to help SMBs knock down barriers to a more sustainable future. Global emissions are still rising fast, and we need immediate and meaningful climate action across the world,” said George Sandilands, CEO & Co-founder, Spherics. “Together with Sage we can help make a global impact on greenhouse gas emissions by supporting SMBs on their journey to net zero.”  

“A company’s ability to integrate sustainability metrics into its growth strategy and to demonstrate its sustainability credentials transparently is becoming a strong differentiator globally,” said Mickey North Rizza, Group Vice President, Enterprise Software, IDC. “We see companies moving towards more integrated, outcome-driven ways of incorporating sustainability into every step of the business life cycle, and our studies show that organisations are investing in many application areas directly related to sustainability and ESG initiatives. In particular, the applications of supply chain, finance, and ERP are at the top of this investment with some of the largest benefits of elevated productivity, increased profitability, and decreased costs." 

Headquartered in Bristol, United Kingdom, Spherics will continue to be available as a market solution that integrates with Sage and other accounting software providers in the UK.

Temenos today announced that it is the first to market with a SaaS offering that enables banks to manage financial crime mitigation (FCM) with composable banking services on a secure, continually evolving, self-service platform.

Temenos’ FCM-as-a-Service delivers pre-built configurations aligned to global industry regulations. Now with self-provisioning and automatic upgrades for fast compliance and time to value, banks can achieve lower total cost of ownership and improved customer service.

Temenos FCM is used by over 300 banks from global tier ones such as UBS to regional banks, neobanks and digital-only banks such as Flowe. Temenos CEO Navigator, a survey-based customer value benchmarking and advisory service, shows that Temenos clients using the FCM solution, benefit from lower false positives, and increased risk and compliance efficiency. Furthermore, these banks have 92% faster client onboarding time compared to banks that are not using Temenos FCM.

Temenos FCM, which uses patented Explainable AI (XAI), helps banks make smarter, faster decisions by quickly determining if an alert is genuine or not to improve accuracy and productivity. This flexible, pay-as-you-go solution, scales elastically, guaranteeing high availability and performance for peak loads or anticipated growth. The service includes industry-standard certifications spanning risk, security and data privacy without the need for new IT infrastructure. At small and mid-size banks where the cost of FCM is disproportionately high, this can significantly boost profitability and reduce operational risk.

The FCM service can be consumed through the Temenos Banking Cloud. Easy to deploy, the SaaS solution comes pre-integrated with Temenos core banking platform or with an API catalogue for fast connection to any other third-party core.

The Temenos banking service covers all financial crime mitigation needs from sanction screening and Politically Exposed Person (PEP) matching to AML transaction monitoring, payment fraud mitigation and KYC customer risk assessment. It delivers industry-leading levels of detection accuracy and false positives (under 2% vs industry average of 7% and above), enabling banks to reduce overheads and costs while delivering a better customer experience.  Banks composing their FCM service on Temenos Banking Cloud can deploy the complete FCM solution or in parts to meet their immediate needs, and add on capabilities as their needs change, paying only for what they use.

Chuck Subrt, Director, Fraud & AML Practice, Aite-Novarica Group said: “With a rising number of threat vectors and tightening regulations, many legacy financial crime systems struggle and may no longer be enough to meet today’s demands. Many banks are investing in technology to address these challenges. A 2021 Aite-Novarica Group study indicated about two-thirds of institutions will increase spending on AML technology. As such, institutions are looking for offerings like Temenos’ FCM SaaS solution that can deliver fast time to value while empowering compliance teams to meet global regulatory requirements. Flexibility and predictable cost are critical considerations for banks especially as the volume and high rates of false positives are recurring pain points. This can be particularly relevant to mid and smaller banks where the cost of implementing and managing financial crime mitigation can be disproportionally high.”

Adam Gable, Product Director, Temenos, said: “Temenos FCM-as-a-Service is the first offering where banks can self-provision and consume financial crime mitigation as a service. This flexible SaaS solution can help neo and challenger banks get to market faster and incumbent banks to future-proof their financial crime mitigation with a continually evolving platform so they never need to upgrade again. FCM as-a-service is also particularly attractive to existing Temenos clients who wish to move to the cloud. Tackling financial crime is growing ever more complex; with FCM-as-a-Service, banks can stay ahead of the threat - and never upgrade again.”

Xpence - the MENAP regions first financial management platform with embedded business banking solutions for SMEs - announces the launch of its expense management solution in the UAE – the second of five strategic markets it plans to launch in over the next 18 months.

Announcing this latest market entry at the GITEX Global technology conference, Xpence is now issuing VISA cards in the UAE and Bahrain. Xpence is launching its services in the UAE in partnership with Visa. Xpence was one of the first fintechs in the region to join the Visa Fintech Fast track Programme in early 2019.

UAE businesses are ideally placed to benefit from Xpence's financial management platform. A highly digitized nation with near 100% internet penetration, the UAE is a leader of digital transformation across various industries. The country recorded over 70,000 new business licenses issued in 2021, yet many still face challenges in opening bank accounts or digitalizing their financial processes.

Built specifically to serve the 23+ million MENAP businesses that struggle to access financial services –which exposes them to vulnerable, cash-based processes – Xpence's UAE market entry will empower businesses with digital efficiency, security and control. The financial management platform's embedded banking solutions are tailored to local business needs, including physical and virtual employee expense cards, simplified digital invoicing, multi-currency wallets and the automation of payment processing.

Business owners in the UAE can open an Xpence account by downloading the Xpence app from the app stores. With Xpence, businesses can issue virtual and physical Visa cards to employees, which are accepted globally. They can set individual spending controls and limits on each card. Real‐time monitoring and automated bookkeeping eliminate the need for tedious expense reports, promote efficiency and can help businesses save money.

Saad Ansari, Xpence co-founder and CEO, commented:

"We are delighted to announce the launch of Xpence's third Visa card product via our market entry into the UAE, where our platform will provide key financial services and support to SMEs as they launch and scale their businesses, but also to larger corporations in need of more sophisticated, digital financial services.

"Our UAE expansion reflects the rapid growth in demand across the wider MENAP region for our solutions, with over 2,000 businesses on our waiting list for our services. Xpence is changing how businesses manage their expenses with a platform that helps them save time and money so they can focus on doing what they do best ‐ growing their business.

We look forward to continuing our expansion with Visa in pursuit of our vision to become the definitive business banking super app in the region."

Alex McCrea, Vice President and Head of Digital Partnerships and Ventures in Central and Eastern Europe, Middle East and Africa at Visa, said:

“As the global leader in digital payments, Visa strives to provide innovative solutions that address the evolving payment needs of SME businesses, entrepreneurs and freelancers everywhere. We are delighted to partner with Xpence in launching this exciting payment solution that can help businesses in the GCC region control spend, maximize visibility, and optimize cashflow more conveniently and securely. 

We look forward to supporting Xpence’s expansion and joining them in enabling the digital transformation of more businesses across the region.”

Xpence is working with regulators in key markets across the MENAP region. It is legally incorporated in five of the MENAP region's most exciting economies and maintains BIN sponsorship arrangements with leading banks in each market.

The platform is available now as a free download from the Apple App Store and Google Play Store.

Today, Deutsche Bank and Fiserv, a global leader in payments and financial services technology, have launched Vert, a comprehensive payment acceptance and banking services provider to small and medium-sized enterprises (SMEs). Vert is the only German provider to combine payment acceptance and processing and traditional banking solutions, meeting market demand for an integrated offering and streamlining access to innovative products for merchants of all sizes. Vert also provides next-banking-day payouts, providing merchants with faster access to their funds.

Initially, Vert offers three solutions, suitable for a wide range of businesses, from mobile food trucks and brick-and-mortar restaurants to retailers and medical offices.

• Clover Flex is a mobile-optimised, full-featured and portable payment device that makes it possible for merchants to accept a broad range of payments and better manage their business. Clover Flex offers a tip function and apps that facilitate business management.
• The Go by Vert app allows a merchant to use their own Android smartphone or tablet as a contactless payment terminal. Merchants can receive contactless payments in seconds – anywhere, anytime. Vert also offers secure PIN entry, the sole such solution in the German market, meaning merchants can accept payments above contactless-only limits.
• The PAX A50 is a portable and robust card reader that enables merchants to accept card payments at the counter and at the table without having to carry around a heavy device.

“Vert brings together the expertise of two market leaders in cash management and payment acceptance technology. In cooperation with Vert, we can provide accounts, payment solutions and banking services to our SME customers,” said Kilian Thalhammer, Head of Merchant Solutions at Deutsche Bank.

"With a unique combination of payment and banking capabilities, Vert is already helping small and mid-sized enterprises in Germany do business more easily, with less complexity," said John Gibbons, Head of EMEA at Fiserv. “We look forward to helping thousands of merchants streamline their operations and continue to delight their customers.”

Shieldpay, the market leading fintech solving complex B2B payments, has today announced its partnership with Case Pilots, an acclaimed provider of claims administration services, to integrate Shieldpay’s digital mass disbursements payment service into Case Pilots’ legaltech solution.

This will allow Case Pilots’ platform to benefit from the automation and security of Shieldpay’s payment engine, providing law firms with an all-in-one tool to both manage claims and pay out compensation awards, for both opt-in and opt-out cases, across the UK and Europe.

The partnership marries together a highly secure, regulated payments entity that has extensive knowledge of handling high volume, high value B2B transactions with a specialist legal technology platform built and managed by a team of collective action market experts.

Together, Case Pilots and Shieldpay are delivering a near-frictionless process which addresses some of the key challenges of the fast-evolving class action market. By integrating digital platforms, claimants are gaining greater ease and comfort throughout the litigation process, as well as a faster speed of redress with compensation payments made directly into their bank accounts.

Daniel Dunne, Head of Partnerships, Shieldpay, said:

“We are excited to be working with Case Pilots to forge new opportunities in the collective action space and support this fast-evolving industry through digital innovation. Through our platform integration, law firms will be more efficient and able to effectively manage the rising number of claims they are working on while improving their service levels to claimants.”

Claire Van der Zant, Revenue Director, Shieldpay adds:

“Our partnership with Case Pilots hits right at the heart of Shieldpay’s vision to solve the world’s complex payments with technology, pioneering what great looks like for this emerging area of litigation in the UK and Europe across the next 5 years. Core to both Case Pilots’ and Shieldpay’s values is delivering the best experiences for clients and claimants, and we’re excited to be the first movers in leading world-class, technology-led group action payouts.”

Clare Ducksbury, CEO, Case Pilots, commented:

“This first of its kind partnership is pushing the industry forward into a new era, one that is well overdue and absolutely essential to meet the new demands of the changing collective action regime across the world.

“There are great synergies between the two teams, and we share the same mission. Together, we are breaking ground in the transformation of the group litigation market, moving towards a fully automated, digitised claims process that meets the needs of claimants.”

FinTech Connect 2022, Europe’s only dedicated fintech event for the entire ecosystem, is back in-person after three years of virtual meetings due to the Covid-19 pandemic, promising unrivalled market insights and unique networking opportunities in the fast-evolving fintech sector.

Laurence Coldicott, Senior Content Director of Fintech Connect 2022, says: “After the pandemic-induced move to online-only events for the past two years, we’re thrilled to welcome back attendees in person once again to experience the live buzz and bustle of Europe’s most dynamic and relevant fintech ecosystem event. FinTech Connect 2022 promises phenomenally powerful insights and pivotal intelligence, in tandem with live demonstrations of the latest ingenious tech solutions, and even more interactive sessions and debates to drive the industry’s conversations forward.

“Whether it be a challenger bank, innovative merchant, central bank, tier one financial institution or cutting-edge tech player, the sheer calibre of our speaker line-up, representing the brightest and best pioneers in their fields, is a major draw in itself. Combined with the Founders Forum, and the premiere of “FinTech for Good”, this year’s event offers an unparalleled understanding of where the global fintech industry is at right now – and where it’s headed.”

FinTech Connect 2022’s media attendees get free entry and will be able to conduct interviews, briefings and meetings in the event’s interactive media room. Media requests are being handled by FinTech Connect 2022’s official PR partner, SkyParlour (contact details below). Media can register to attend at https://www.fintechconnect.com/events-london/srspricing.

Open banking infrastructure platform Yapily has teamed up with Juni, the financial platform built for e-commerce, to help e-commerce businesses gain a real-time overview of their finances, maximise cash flow, and get better credit decisions.

In 2021, retail e-commerce sales amounted to approximately $5.2 trillion worldwide. Despite the current economic climate, this figure is forecast to grow by 56% over the next five years, reaching $8.1 trillion by 2026. As the industry continues to accelerate, e-commerce businesses are increasingly looking for ways to future-proof their businesses and streamline their finances long-term.

Utilising the power of open banking, with the customer’s consent Yapily Data enables Juni to instantly fetch and aggregate information from multiple bank accounts, providing its customers with a holistic view of financial performance. By analysing this data, Juni can also complete a faster, fairer, and more accurate way to assess creditworthiness, reaching credit decisions more quickly whilst improving access to credit for e-commerce businesses.

As a result of the partnership, Juni customers can also make instant top-ups to help control cash flow with ease. Using Yapily Payments, with the customer’s consent Juni can pull funds directly from the customer’s business bank account. All payments are authorised using strong customer authentication (SCA) and once set-up is complete, there is no need for customers to leave the Juni platform to make the top-up transfer, creating a streamlined payment experience every time.

So far, Yapily has enabled Juni to process over £2.2 million in open banking payments and see more than a 500% increase in open banking usage.

Samir El-Sabini, Co-Founder and CEO at Juni, said: “Gone are the days of worrying about financial visibility, time wasted on manual tasks, and lengthy onboarding processes. With Yapily and open banking, we are enabling e-commerce businesses to keep pace with demand and focus on what really matters: growth. Selecting Yapily as Juni’s open banking partner of choice was a no-brainer; the depth, scalability, and reliability of its coverage enables us to meet the needs of our customers, now and in the future.”

Stefano Vaccino, Founder and CEO at Yapily, comments: “Juni are on a phenomenal journey. It’s a privilege to see how Yapily and open banking are enabling them to continue to disrupt the B2B e-commerce space. Our partnership represents the best in fintech innovation coming together to empower businesses to thrive. I can’t wait to see what more we can achieve together.”

This is the start of an exciting roadmap for the fintech duo, with geographic and product expansion on the horizon. Juni’s open banking-enabled solutions are currently live in the UK and will be rolled out across Europe in the coming months, starting with Sweden, Germany, and the Netherlands. Juni also plans to expand its range of open banking use cases with Yapily, leveraging Yapily Payments to offer a direct account-to-account payment solution to its customers beyond account top-ups. The Swedish fintech e-commerce platform notably secured a further $206 million in funding in June this year, including a $100 million Series B round.