Axyon AI, a leading AI provider for the asset management industry, has announced the completion of a €1.6 million funding round. The round has been led by the Fondo Rilancio Startup (Relaunch Start-up Fund), managed by CDP Venture Capital SGR, with ING, UniCredit, Geminea and Metes as co-investors.

Axyon AI will use this new round of funding to support its international growth and to evolve Axyon IRIS®, it's flagship product that empowers asset managers with AI-powered market insights and investment strategies.

Founded in Modena, Italy, in 2016, Axyon AI received its first external investment from ING Bank after winning ING's international Innovation Studio acceleration program in Amsterdam. In 2018, it completed a €1.5 million funding round led by ING and UniCredit. This enabled the start-up to boost the development of its proprietary, fully automated AI technology for financial markets predictions, and to bootstrap its business development effort, leading to several commercial successes.

Daniele Grassi, Co-Founder and CEO of Axyon AI, said: "This latest funding round is a crucial step in developing Axyon AI’s proposition, supporting research & development, and our international expansion. Our technology has already proven its performance in the asset management industry, and clients increasingly trust Axyon AI to support their investment management processes.

“This funding round provides further evidence that the market recognises Axyon AI’s commitment to AI excellence. These new financial resources will help to reinforce the growth of our team and support our continued focus on innovating and improving our AI and Deep Learning models - which have already become an integral part of our clients’ investment processes.”

Moneyhub, the award-winning Open Data platform and alpha partner to the Pensions Dashboards Programme (PDP), has launched a new Pension Finder feature that can automatically identify gaps in retirement savings by analysing savers’ career histories on LinkedIn.

The UK government has calculated that people will have an average of 11 jobs in their career - each of which now results in them being auto-enrolled into a pension scheme. Participation levels were at 47% in 2012 and soared to 79% in April 2021. The rise in enrolment is also matched by an increase in old-age poverty which demonstrates the need for workers to take control of their pensions. One in five pensioners is now living in relative poverty in the UK, with the number of financially insecure pensioners increasing by 200,000 over the last year and soaring to more than two million.

The release of Pension Finder comes ahead of the launch of Moneyhub’s Pensions Dashboard, which is currently in alpha development and scheduled for early 2024, subject to FCA authorisation. Moneyhub felt an interim solution was required as savers still need and want to find their pensions.

Launched ahead of the Government’s Pensions Dashboards, which are expected to be introduced in 2024, Pension Finder is the world’s first extension of Open Finance using Open Data, allowing people to build a full picture of their pension and make crucial retirement plans by connecting the Moneyhub app with their LinkedIn profile.

Moneyhub’s Pension Finder is designed to help pension managers, workplace pension providers, trustees or advisors help their customers engage with their pensions, encourage them to save more cash for retirement and understand the long-term implications of their current financial situation and savings strategies.

Users can combine the pensions information found by analysing their career history with other information aggregated and calculated by Moneyhub in tools such as Moneyhub’s Lifestyle Modeller, which predicts people’s financial situation after a major event such as retirement to set lifestyle expectations.

Dan Scholey, Chief Commercial Officer of Moneyhub, said: “Too many people are failing to engage with their pensions meaning they are potentially missing out on a better retirement. In an era of inflation, it is important that savers take positive steps to guarantee their future financial wellness.

“When people have a complete financial picture they are able to make better decisions or get the help they need. The Pension Finder is an important addition to the capabilities of Moneyhub and will make financial admin easier and ultimately drive better outcomes for our clients and their customers.”

From April 2023, pension providers must make their data available to dashboards. It will revolutionise data providers’ customer service by enabling them to give savers the ability to securely search for all their pensions and see the wider context of all their financial assets including investments, savings, property, mortgages, and more.

In December 2021, PDP selected Moneyhub and two other potential commercial dashboard providers to work with the programme in an initial (alpha) six-month phase. In June 2022, Moneyhub’s dashboard became the first commercial dashboard to be successfully connected to the central architecture, in addition to the MoneyHelper non-commercial dashboard from the Money and Pensions Service.

Oxane Partners ("Oxane"), a leading technology-driven solutions provider to private markets, announced that it has been adjudged as the ‘Best Valuation Service’ at the Hedgeweek & Private Equity Wire European Credit Awards 2022. This is Oxane’s second win for its valuation service in the last 12 months and overall, the tenth award win for its services and solutions.

The Hedgeweek & Private Equity Wire European Credit Awards recognize and reward excellence among private credit, hedge funds, private equity, and service providers in Europe. The winning funds are chosen basis their funds’ performance while service providers who display exceptional client service, innovation, and strong business growth are awarded. The award ceremony was held recently at the Kimpton Fitzroy Hotel in London.

“We’re honoured to receive the ‘best valuation service’ award at the Hedgeweek & Private Equity Wire European Credit Awards. This win reflects the exceptional growth and recognition of Oxane’s specialist valuations services, as our clients continue to rely on us across a wide range of asset classes. With our depth of domain expertise we are perfectly placed to support the industry with our truly independent valuations services.”, commented Vishal Soni, managing director and co-founder of Oxane Partners.

Oxane’s independent valuation services help private markets funds meet their strategic, transactional, and regulatory imperatives. Oxane performs independent valuations, model validations, stress testing, and impairment analyses on illiquid and hard-to-value assets including real estate debt, private debt, consumer portfolios, risk transfer (SRT), private ABS, and private equity investments. An array of financial institutions including hedge funds, private credit, private equity, and alternative lenders rely on the depth and coverage of Oxane’s valuation practice.

Plenitude, the Financial Crime, Risk and Compliance specialist, has expanded its management team by appointing Mike Coates as its Asia practice Lead and Senior Executive.

Mike brings extensive experience in delivering large-scale, complex and business-critical programmes at global banks, with specific expertise in Financial Crime Compliance (FCC) transformation. In the new role, he will be responsible for delivering Plenitude’s ambitious growth plans across Asia. This will include developing and executing the business strategy to meet the new challenges posed by the evolving financial crime landscape. 

Mike’s appointment comes at a pivotal time for Plenitude, which recently announced a strategic investment from Growth Capital Partners (GCP) to accelerate global expansion. Establishing a significant presence in Asia has been ringfenced as a key priority for the company.

Having worked in the banking industry for 20 years, Mike has extensive knowledge of FCC transformation and consulting experience covering banking, funds, securities and investment services; and broking as well as having a stint as the MLRO for a major HK-based digital asset company. He has previously held senior roles at Standard Chartered Bank and HSBC Commercial Banking leading multi-disciplined and geographically dispersed teams. 

Mike also plays a key role in the crypto industry group (GDF) and has driven several initiatives for them both globally and within HK. He is also a key contributor to the Mekong club which is focused on anti-human trafficking and modern-day slavery.

Commenting on his appointment, Mike Coates said: “Plenitude has developed a well-deserved reputation for serving its clients with first-rate advisory, transformation and technology solutions. The fast-moving, global landscape requires the ability to mitigate the significant enforcement actions against financial institutions taken by regulators in recent years. I’m looking forward to helping the firm increase its geographical presence and forge into new sectors, such as digital assets. My focus is on nurturing and expanding our existing network of clients while exploring new growth opportunities.”

Alan Paterson, Managing Director, Plenitude, added: "We are delighted to appoint Mike to lead our practice in Asia which is a key part of our growth strategy. Mike’s proven track record in delivering complex FCC and remediation programmes alongside his extensive network will help position our Asia practice for success. We are very excited by the opportunities in Asia and are already seeing strong demand for our services. 

Knab, a Dutch online bank founded in 2012, has extended its existing partnership with Worldline. In addition to the existing Instant Payments back-office service, Worldline will now also facilitate back-office processing for handling SEPA Batch payments and multi-currency payments. The partnership has been extended for a seven-year contract.

As part of this partnership, Knab will continue to benefit from dedicated access to Worldline's Instant Payments back-office service, part of Worldline's extensive and modular back-office processing product portfolio. This portfolio can also handle other payment solutions such as SEPA, high-value and multi-currency payments, which will also be handled by Worldline following the extension of this partnership. This modular EPC (European Payments Council) and PSD2 compliant portfolio can be used by any bank. The implementation of this portfolio can be secured within ten months. This short time to market allows Worldline's customers, such as Knab, to quickly reap the benefits of outsourcing and rapidly provide their end customers with solid and future-proof solutions.

Sheri Brandon, Chief Marketing Officer Northern & Western Europe of Worldline Financial Services: “We are delighted to be extending our partnership with Knab. The benefits of outsourcing back-office services to Worldline are clear. Our capability to act as an agile business partner is demonstrated by the extremely short time to market of Worldline's back-office processing product portfolio. Moving forward, we can support Knab in a broader range of their business and, in turn, help them to service their customers in the best possible way.”

Outsourcing back-office services are a viable solution for companies, including banks, seeking to introduce new operating models for their payments processing business. While lowering costs on one hand, it also allows them to reduce complexity and use their resources more efficiently in areas where they can make a difference.

Ronald van der Horst, Product Owner Online Payments of Knab: "In the past years, Worldline clearly demonstrated the effectiveness of their back-office portfolio and the benefits it brings for us. Therefore we decided to extend the existing partnership to also include the processing of SEPA Batch payments and multi-currency payments. This will allow us to reduce complexity and free up resources to support our customers and clients even better."

Temenos today announces that Police Bank has selected Temenos Retail Banking Services running on the Temenos Banking Cloud to modernize its core systems. Police Bank is building a bank fit for the modern economic and banking environment with digital services to support long-standing members and attract a younger demographic. Temenos’ open, cloud-native platform will allow the bank to deploy new services faster and cost-effectively.

Police Bank started as a police credit union in the 1960s. Today, it remains a member-owned institution that supports and empowers the financial well-being of the police and border force community. The bank recognizes that Australians are increasingly choosing technology options over traditional banking methods. It has embarked on a multi-year digital transformation journey to build a better, faster, more secure way for its members to access services.

Temenos’ flexible and agile core processing engine with powerful analytics delivered as SaaS (Software-as-a-Service) on Temenos Banking Cloud will help Police Bank build for change, and quickly design and deliver products that match the needs of its unique membership.

Greg McKenna, CEO, Police Bank, said: “As we aim to be Australia’s most member-obsessed bank, we need to look far into the future to build a bank that can partner with our members through every stage of their lives. That means having the means for them to access our services when and how they want. The Temenos Banking Cloud gives us instant access to an extensive set of composable banking services to migrate existing products and build on ancillary services in the future, making it better for members to transact with us and our employees to work for us. This will, in turn, fuel growth and strengthen the bank for generations to come.”

Craig Bennett, Managing Director – Asia Pacific, Temenos, said: “The banking industry is increasingly seeing that cloud technology is not just a driver of efficiency but an enabler of change. We look forward to powering Police Bank’s digital transformation, which will enhance its banking services with highly connected and personalized interactions for its members. We have experience working with over 200 financial institutions in Australia, and Police Bank builds on our strong momentum as the platform of choice for the region’s pioneering banks.”

MoneyGram International, Inc., a global leader in the evolution of digital P2P payments, and Jingle Pay, a financial super-app based in the United Arab Emirates (UAE), today announced a partnership to enable convenient and fast global money transfers through the Jingle Pay app. Consumers in the UAE can use the Jingle Pay app – powered by MoneyGram's global payment rails and near real-time capabilities – to send money to over 200 countries and territories around the world.

MoneyGram has also announced the completion of a minority investment in Jingle Pay, giving MoneyGram an approximate 12% equity stake in Jingle Pay. Alex Holmes, MoneyGram Chairman and CEO, has joined the Jingle Pay Board of Directors as Chairman to help guide Jingle Pay's strategic path forward.

"As consumer preference increasingly shifts online, investing in digital startups around the world is a critical component of our strategy," said Holmes. "We're excited to partner with Jingle Pay, as we believe in their strategic vision to improve the key elements of traditional banking through its suite of innovative digital offerings. As the startup continues to grow, MoneyGram's direct ownership in the company will strengthen our leading position in the Middle East and further accelerate our strategic goals to lead the evolution of digital payments."

As a global trade hub, the UAE hosts nearly 9 million expatriates, constituting approximately 89% of the population and making the country a powerhouse for outbound remittances.¹ With a focus on financial inclusion, Jingle Pay is targeting ex-pats in the region and providing consumers with access to an extensive list of accessible financial services, such as its multi-currency card and money transfer services.  

"Jingle Pay is the super-app transforming the daily financial lives of consumers seeking accessible, instant and innovative money services," said Amir Fardghassemi, Founder and CEO of Jingle Pay. "Our partnership with MoneyGram extends our network of global remittance destinations and allows us to tap MoneyGram's remittance clearing expertise. It gives our users global coverage and cost-effective rates. At Jingle Pay, we are committed to reinventing how people to store, spend and send money while furthering financial inclusion and low-cost remittance corridors."

The Jingle Pay app is now live in the UAE.

CB Insights named Glia, the leading provider of Digital Customer Service (DCS), to its annual Fintech 250 ranking for the third year in a row. The distinction showcases the 250 most promising private fintech companies of 2022. Glia is among a smaller group of 159 Fintech 250 companies that have achieved a $1B+ valuation.

“In uncertain economic times, the customer experience is more important than ever to build deeper relationships and retain business. Today that requires a digital-first approach. Glia is trailblazing how financial institutions connect with their customers on screen with our ChannelLess™ Digital Customer Service (DCS) platform that fuels client success. We are honoured by the growing number of financial institutions adopting our DCS solution and the continued recognition by CB Insights on the Fintech 250 list,” said Jeremy Smith, Chief Operating Officer, Glia.

Glia’s strong momentum has continued through 2022, including the acquisition of Finn AI—the premier AI-powered chatbot platform for banks and credit unions—and a round of financing that brings Glia’s total funding to $152M with a valuation that exceeds $1B. Glia continues to grow, exceeding 300 insurance, banking and credit union clients and expanding into the Latin American market. 

Collectively, the Fintech 250 cohort raised over $51B in 2021, pushing the total raised since the start of 2017 up to more than $115B. Glia’s funding rounds in both 2021 and 2022 have contributed to that number. Glia is now among the unicorns on the Fintech 250 list, with a valuation exceeding $1B.

"This year’s Fintech 250 winners are shaping the future of financial services, from payments and banking to investing and insurance,” said Brian Lee, SVP of CB Insights’ Intelligence Unit. “Representing more than 30 countries, these companies are creating safer and more efficient payment methods and transforming how traditional banking, insurance and investment products are delivered. Together, they not only make financial services more convenient for users but also make them available to more people, especially traditionally underserved populations around the globe.”

Utilizing the CB Insights platform, the research team selected these 250 winners from a pool of over 12,500 private companies, including applicants and nominees. They were chosen based on factors including R&D activity, proprietary Mosaic scores, market potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength, and tech novelty. The research team also reviewed over 2,000 of Analyst Briefings submitted by applicants.

Continuing its rapid growth, Highline Technologies, the payments fintech that unlocks payroll-linked lending and billpay, announced today that Jesse Silverman has joined the company as General Counsel.

Silverman brings almost 20 years of legal expertise and industry experience to the team, including leading legal and compliance efforts for several fintechs, including LendUp, Nuula, and Steady. He also served as an enforcement attorney for the Consumer Financial Protection Bureau (CFPB). In his new role, Silverman will lead Highline’s contract efforts with clients and partners while also serving as the company’s Chief Compliance and BSA Officer, overseeing consumer compliance standards and offering product development guidance.

“I am excited to join Highline, a company committed to helping both consumers and lenders who support them,” said Silverman. “I look forward to working with this talented team and helping to further drive its partnerships, growth and success.”

“We are thrilled to have Jesse on board,” said Geoff Brown, co-founder and CEO of Highline Technologies. “Highline’s platform is transforming consumer lending and bill payment, and Jesse’s passion and expertise is exactly what we need to support both our team and our clients as we scale up the company.”

The U.S. Payments Forum, an integral part of the Secure Technology Alliance, today announces its upcoming Fall Member Meeting. The event gives payments decision-makers a unique opportunity to share their experiences, discuss emerging payments innovations and develop strategies for overcoming industry challenges through collaboration.

The meeting will take place on November 8^th and 9^th at the Hilton in downtown Nashville, just steps away from major landmarks like the Country Music Hall of Fame. Attendees will have access to interactive roundtable discussions, panels and special interest groups. Many of these educational sessions will be open to Forum members and non-members. Registration details and the full agenda can be found on the U.S. Payments Forum’s website.

Seckin Yilgoren, Mastercard’s senior vice president of North American cyber and intelligence, will kick off the meeting with an impactful keynote address. He will explore methods for protecting the trust between payments stakeholders and consumers in a changing world.

Payments leaders representing every facet of the transaction process will address the following topics:

• Today’s payment trends and the future of FinTech
• Payments fraud impacts across the ecosystem
• FIDO passkeys
• Mobile and touchless payments growth
• Faster payments and FedNow
• Secure Remote Commerce (SRC) and Click to Pay
• Payments at the pump
• Electric vehicle open payments
• Stakeholder reports from payment networks, issuers, merchants and acquirers

“We’re excited to head to the Music City alongside some of the biggest names in global payments,” said Jason Bohrer, executive director of the U.S. Payments Forum and the Secure Technology Alliance. “The conversations that take place at the Forum’s meetings are invaluable to the greater payments industry. Both inside and outside of scheduled sessions, stakeholders have the chance to pinpoint areas of opportunity within the industry and influence innovation. Global payments networks, merchants, issuers, acquirers and technology makers come together to build better payment experiences in a non-competitive setting.”

Non-member organizations who wish to register for the event’s open sessions can do so at a cost of $195 per person. Member organizations are allowed a maximum number of participants to attend the full range of sessions at no charge based on their level of membership. Additional member registrations are available at $545 per person.

The meeting is made possible through the following sponsors: American Express, Discover and Infineon Technologies.

To access members-only sessions and participate in Forum projects, interested organizations, associations, government agencies and individuals are encouraged to join the U.S. Payments Forum. By joining the U.S. Payments Forum, members will also have access to broader activities within the Secure Technology Alliance and its affiliated organizations.