Trulioo, the leading global identity verification company, today announced the release of a major product update to GlobalGateway, the company's award-winning platform, that includes innovations in Anti-Money Laundering (AML) watchlist and proof of address offerings, and upgraded Know Your Business (KYB) verification capabilities. 

Organizations are facing increased regulatory pressure to ensure they’re monitoring new and existing customers against applicable sanctions lists while meeting increased expectations from consumers for fast and easy digital onboarding. The GlobalGateway updates announced today are designed to support Trulioo customers in meeting these expectations and complying with complex and varied regulatory requirements around the world. 

“As a global service provider, Trulioo must continuously innovate to meet an increasingly varied and diverse range of regulatory compliance requirements that our customers face every day,” said Michael Ramsbacker, Chief Product Officer, Trulioo. “We are dedicated to bringing forward solutions that address the changing needs of our customers and the market as a whole – both at the point of onboarding and beyond - and I am pleased to share that this GlobalGateway update does just that.” 

The update includes the launch of an enhanced GlobalGateway Watchlist, UtilityID, and upgraded Business Verification. Together these services streamline the onboarding of consumers and businesses, as well as provide continuous monitoring for fraud, money laundering and illicit behaviour throughout the customer lifecycle. 

GlobalGateway Watchlist is one of the most complete watchlist services on the market. It connects to customers’ eIDV onboarding journeys via single API integration to provide screening and monitoring of an organization’s users against 6,000+ global watchlists and 20,000+ Adverse Media lists – both at the point of onboarding and continuously thereafter. 

UtilityID is a consent-based identity verification service that uses utility provider data to verify addresses, removing the need for the manual download, upload and scanning of documents and other high-friction document verification processes. This also presents a more secure way to obtain address verification as utility documents are easily forged. With UtilityID, Trulioo customers can meet Proof of Address compliance requirements in real-time, provide a faster onboarding experience, a higher level of address accuracy, and significantly reduce operation times associated with manual utility document and ID document review.

The enhanced Business Verification offering allows companies to verify a business’ details anywhere in the world, from high-level data to stringent Ultimate Beneficial Owner verification. It leverages revolutionary intelligence to address the complex challenges of conducting business at an international level, including managing varying regulations, diverse standards for Business IDs, addresses and local languages, as well as automatically selecting the best-suited source of information. Trulioo’s unmatched global network of data sources allows KYB customers to easily access accurate and up-to-date information that supports compliance requirements and due diligence.

Money20/20, Europe’s largest fintech show, taking place in Amsterdam, kicked off today with a show-stopping line-up of inspirational speakers.  

Taking on the main stage on Tuesday, 7 June for a session entitled ‘Faster, Higher and Into Orbit’ are racing driver Susie Wolff, rock climber Alain Robert, and British astronaut Tim Peake, who will reflect on their achievements, share their unique perspectives and discuss how these can enrich people’s daily lives and industry collaborations. 

Susie Wolff 

VENTURI Formula E Team Principal, Susie Wolff, began her competitive motorsport career over twenty years ago, starting out as so many of her racing contemporaries did, on the karting track. After cutting her teeth in karting, Formula Renault and DTM for Mercedes-Benz, Susie went on to make history at the 2014 British Grand Prix by becoming the first woman to take part in a Formula 1 race weekend in 22 years.

Alain Robert 

The world's leading free solo climber; the 'Urban Climber' who ascended over 70 skyscrapers without ropes. Alain Robert is the world's leading free climber and is known all over the as the ‘French Spiderman’ and the ‘Urban Climber’. He is internationally renowned for having ascended over 100 skyscrapers without ropes. In 2011, he climbed Burj Khalifa in Dubai, the tallest building in the world. Robert uses his bold ascents to raise funds for charity.

Tim Peak 

Tim Peake is a former Apache pilot, flight instructor, test pilot and current European Space Agency astronaut. A veteran of 18 years of military service, Tim has flown over 3,000 hours on operations worldwide. In December 2015, Tim became the first British astronaut to visit the International Space Station and conduct a spacewalk during his six-month mission. He also ran the London marathon from space.

“We look forward to welcoming these inspirational speakers on our stages,” said Tracey Davies, President of Money20/20. “Our delegates attend Money20/20 to learn, network and be inspired to continue to evolve the payments ecosystem. Susie, Alain and Tim all have some incredible experiences to share that can enrich and motivate us to do better.” 

Bringing together the most innovative people in payments, fintech, and the broader money ecosystem, as well as inspirational speakers, Money20/20 Europe is a showcase for some of the industry's fastest-growing and biggest household names. With over 6,500 people from over 2,000 companies attending, this year’s event at RAI Amsterdam promises to be bigger and better than ever.

Over 350 speakers will stand tall on the six stages that will charter the uncharted in fintech and shape the future of the industry for years to come, in Europe and beyond. The Money20/20 Europe agenda is full of unmatched content featuring the boldest voices of the industry from across the globe, immersive experiences and disruptive topics that will transform industry norms. Headline sessions include: 

• Headline session: Deutsche Bank and Google Cloud in conversation
• Headline session: John Collison, Co-Founder, Stripe
• Headline session: Charlotte Hogg, CEO, Visa Europe and Daniel Kjellén, Co-founder and CEO, Tink
• Headline session: Mark Barnett, President of Mastercard Europe
• Headline session: Lee Taylor, Chief Financial Officer & Lee Taylor, Chief Financial Officer at OnlyFans

Trading Technologies International, Inc. (TT), a global provider of high-performance professional trading software, infrastructure and data solutions, and Talos, the premier provider of institutional digital asset trading technology, announced today that the firms have partnered to substantially and rapidly broaden TT’s cryptocurrency offering on a global basis by leveraging the Talos infrastructure and market connectivity from directly within the TT® platform. The agreement represents the first major strategic partnership propelling TT’s expansion into multiple asset classes, including cryptocurrencies, and provides a significant opportunity for TT’s global customer base to access Talos’ extensive, market-leading cryptocurrency trading solutions.

Announced at the International Derivatives Expo (IDX) in London, the first phase of the partnership agreement intends to give TT clients ready access to 14 additional cryptocurrency markets in Q3 2022, beyond the four already offered directly through the TT platform. Later phases of the partnership will incorporate more of Talos’ trading services seamlessly onto the TT platform.

TT CEO Keith Todd said: “Our acquisition by 7RIDGE late last year has given us the ability to make a substantial investment into broadening our offering into new asset classes, including through partnerships with the most innovative and reliable firms with domain expertise. Among our first priorities is becoming a primary hub for crypto trading, giving our clients the array of choices, premier functionality and liquidity that has been a hallmark of our exchange-traded derivatives offering.”

"We're incredibly excited to partner with Trading Technologies and Keith's team to help power institutional access to digital assets," said Talos co-founder and CEO Anton Katz. "Trading Technologies has earned its high repute within the traditional institutional trading infrastructure space, and together we will be able to bring institutional-grade digital asset services to this long-established community with a level of familiarity and quality to which they are accustomed."

Jason Shaffer, TT’s EVP Product Management, who is leading the firm’s new cryptocurrency initiative, said: “We’re delighted to partner with Talos, which has the trust of the world’s leading institutions and a powerful foothold, infrastructure and track record in the evolving crypto space. Institutional demand continues to build for this asset class, along with a need for reliable technology partners to help facilitate adoption. Combined with Talos' infrastructure, our proven technology will help our clients participate in the crypto space with ease and confidence.”

TT began offering access to cryptocurrency spot and derivatives markets in 2018, building native connectivity to markets including Coinbase, BitMEX, Bakkt and Deribit. TT has also supported the trading of bitcoin futures and options on CME Group since those products were launched. The new partnership with Talos vastly expands on TT clients’ ability to trade on a broad range of digital asset markets, alongside other asset classes, including with Binance, Bitstamp, ErisX (now part of Cboe Global Markets), FTX, Gemini, Kraken and others.

Finerio Connect, a Mexican fintech, together with Ozone API and Visa announce their collaboration to support financial institutions in Latin America & the Caribbean to navigate open banking. Collectively, the three companies will offer an end-to-end set of tools and capabilities enabling rapid implementations - according to market readiness and compliance requirements.

The term open banking refers to the sharing of consumers’ financial data, with their consent, to trusted third parties that, in turn, create and distribute novel financial products and services.

With that, and as part of Finerio Connect, Ozone API and Visa’s collaboration, the Finerio API Hub will bring together the capabilities of the three partners within a white-label modular solution enabling financial institutions to comply and compete in open banking. It includes the Ozone API platform enabling banks to publish compliant and premium APIs – it also provides access to bank aggregation, data analysis, end-user experiences and other Finerio Connect services. Visa will promote its expertise, capabilities, and value-added services by offering its data assets, APIs, and payment capabilities to develop use cases and innovative solutions and including the offer of Finerio Connect and Ozone API to financial institutions allowing consumers to benefit from open banking.

Finerio Connect was the first company in Latin America to develop open banking solutions and is the leader in providing open banking infrastructure in the region. It offers account aggregation, data handling and a Personal Finance Manager (PFM) app to more than 75 companies in Latin America.

“When we founded Finerio Connect, we realized how difficult it is to implement an open banking solution, but also visualized the impact it can have on the end-user. We created Finerio Connect so that all the knowledge, experience, and infrastructure that we built could be shared with financial institutions. We designed a work plan so they can adopt an open banking infrastructure from day one,” commented José Luis López, CEO of Finerio Connect.

Open banking is a natural evolution of Visa’s 60-year history of being a global payments network that securely connects consumers, sellers, developers, fintech and financial institutions.

“Working with our partners in the ecosystem, our focus in open banking is to foster innovation, bringing our network capabilities and value-added services to facilitate safe and reliable connections for financial institutions to offer consumers more options that allow them to take control of their financials and data,” commented Romina Seltzer, Head of Products & Innovation for Visa LAC. “Now, the ecosystem is beginning to appreciate that open banking also provides an opportunity for traditional financial services to expand their offering to existing and new customers with products and services that are tailored and relevant.”

Ozone API has played a significant role in open finance around the world. The founding team led the development of the open banking standards in the UK and continues to shape standards around the globe. Ozone API is the leading regulatory API solution in the market that enables banks to move beyond compliance.

“Ozone API has been involved in the development of open finance standards from the very beginning, so we understand where the real complexity is and how to make it work for all parties, banks, the third parties and most importantly end-users,” commented Huw Davies, co-founder and CCO at Ozone API. “We founded Ozone API as we saw how difficult, expensive and time-consuming banks were finding it to deliver high quality, standards-based open APIs.”

Despite the natural benefits of open banking in enabling third-party data access, adoption has been slow in some regions. However, the advantages of enabling optimal open banking implementations have captured the attention of companies like Finerio Connect, Ozone API and Visa which partner to enable the acceleration of open banking initiatives.

Finerio Connect, in fact, was the winner of the 5th edition of the Visa Everywhere Initiative (VEI) in 2021 and was chosen to represent the region of Latin America and the Caribbean in the world finals where it placed in second place. The VEI is now a network of 8,500 startups around the world and growing. Since its 2015 launch, the program has helped startups in more than 100 countries collectively raise more than $16 billion in funding, addressing one of the biggest challenges that entrepreneurs face in their startup years. Every year, the competition has expanded to include unique startups solving unique problems in the world of payments.

Tink, Europe’s leading open banking platform, and Revolut, the global financial super app with more than 18 million customers worldwide, have entered into a strategic partnership for open banking technology.

Tink’s payment initiation services (PIS) technology will allow Revolut users across Europe to seamlessly move money into their Revolut accounts. PIS enables users to connect to the bank account they want to move money from, and instantaneously authorise and complete the payment without leaving the Revolut app.

Daniel Kjellén, co-founder and CEO of Tink, said: “Revolut is one of the biggest success stories of the financial services revolution, offering services that better meet the needs of customers. We are excited to be a part of the next stage in Revolut’s growth and see this partnership as an important step in the mass-market adoption of open banking powered payments across Europe.”

Ivan Chalov, Head of Retail at Revolut said: “We are delighted to bring Tink’s solutions to Revolut. Our partnership with Tink will enable Revolut to expand our open banking services across new markets in a fast and sustainable way.”

ClearBank, the cloud-based clearing bank, today announced that it is providing agency banking services to UK-based money app Ziglu. ClearBank’s technological infrastructure, regulated payment rails and treasury management service have bolstered Ziglu’s banking and investment offerings, enabling Ziglu to offer virtual GBP accounts to its customers.

ClearBank powers Ziglu’s real-time processing and reporting for its GBP virtual accounts, using API and cloud-based solutions, which allows for products to be modified at speed in a live environment. The virtual accounts provide Ziglu customers with access to all the UK payments schemes, including real-time payments via Faster Payments. As well as making these customer-facing enhancements, ClearBank’s embedded banking platform has improved operational efficiencies, allowing Ziglu customer teams to resolve missing or pending payment queries, for example, significantly faster.

ClearBank’s platform gives Ziglu’s end-customers safeguarded accounts, removing third-party credit risk. ClearBank payments are cleared in-house and funds, which are held securely at the Bank of England, are not used for investment purposes. The two firms are currently exploring a future phase of the partnership to offer FSCS protected accounts to Ziglu's customers.

Ziglu entered the market with a strong emphasis on customer experience, providing in-app lifestyle management tools and a distinctive physical debit card to support both fiat and cryptocurrency transactions, FX services in Sterling, Euro and US Dollar, as well as investments.

Charles McManus, ClearBank’s CEO, said: “Ziglu represents all that is exciting about fintech and finance today. With a keen sense of what their banking, investment and crypto customers will want to see next, Ziglu is perfectly poised to continue growing in 2022 and beyond. ClearBank is very pleased to have partnered with Ziglu and to provide safeguarded Virtual GBP Accounts, and we look forward to expanding the proposition together for a long time to come.” 

Mark Hipperson, Founder and CEO of Ziglu, said: “Ziglu will continue to champion the ClearBank platform. The improvements we’ve been able to deliver to customers through ClearBank have had a remarkable effect on user satisfaction. ClearBank offers us the best of both worlds – all the security of traditional banking, along with the means to quickly adapt and satisfy our digital-native customer base.”

ApolloX, one of the top 10 decentralized exchanges (DEXes) on CoinMarketCap as of June 2022, announced today that it has secured an undisclosed amount in seed funding from investors including Binance Labs and Kronos Research.

Other investors who participated in the round include Lingfeng Capital, SafePal, Token Pocket, 3Commas and LUX Capital.

The strategic funding will help ApolloX expand its current product and build new product lines in the ecosystem —  including spot trading, predict-to-earn, and DEX-as-a-Service. Since its launch in September 2021, ApolloX continues to see stellar growth, with cumulative trading volume hitting $158.87 billion in May 2022.

“Decentralized finance increasingly eats into the market share of centralized finance. Protocols are rapidly innovating in this competitive space as users demand more control, value, and accessibility. We are stoked that our investors recognize our contribution to this evolution toward decentralization and Web3,” said ApolloX Captain, Founder of ApolloX.

ApolloX offers an accessible yet sophisticated decentralized trading solution. The team’s understanding and passion for the industry drive ApolloX to build features that will change the experience for all stakeholders in cryptocurrency and blockchain.

ApolloX 2.0 and DAO Self-Governance

In April 2022, the platform announced its forward-looking plan to achieve its vision of Web3: ApolloX 2.0, a 5.75 billion APX token burn, and transition to decentralized autonomous organization (DAO) self-governance.

The DAO structure will help further the adoption of decentralized crypto assets and user-centric blockchain technology on a global level. ApolloX DAO will utilize industry-standard solutions to implement decentralized governance, and facilitate transparent and trustless decision-making by the community for platform development.

ApolloX believes the future of DAO will help to eliminate centralized leadership and empower the next generation of protocols to bring blockchain innovation to greater heights. This will bring forth new markets and opportunities for the industry.

In the coming year, ApolloX will execute its roadmap and continuously improve on its degree of decentralization. It will also continue to expand its strong network of partners with platforms and companies like CoinMarketCap, PancakeSwap, and Banxa Holdings. 

CASHe, India’s leading credit & wealth-led, AI-driven financial wellness platform, announced that it has crossed the significant milestone of having disbursed 1.2 million loans worth Rs. 4,000 crores since its inception. It further stated that on the back of economic revival and a strong rebound in retail loan demand, the company is eyeing fresh disbursals worth Rs 3,600 crores in FY22-23, thereby projecting a cumulative loan disbursement of Rs. 7,600 crores ( 1Billion USD ) by end of this financial year.

CASHe stated that it has witnessed 237% Y-o-Y growth in loans disbursed which stood at 4.3 lakh in FY21-22 vis-à-vis 1.27 lakh in FY20-21.  In terms of the loan value, the company said it has disbursed loans worth Rs. 1,550 crores in FY21-22 as against Rs. 579 crores in FY20-21 thereby witnessing a 168% growth. Bengaluru, Delhi, Hyderabad, Ahmedabad and Ghaziabad were the top cities from where it witnessed maximum traction. It further stated – medical, home renovation, wedding, and education were the top reasons for which loans were availed.

CASHe’s instant credit line facility allows a user to borrow money up to Rs. 1 lakh disbursed approximately 1.96 lakh loans worth 416 crores in FY21-22 alone. While the average ticket size of the credit products across CASHe’s platform is approximately Rs. 40,000, the same is around Rs. 22,000 for its Credit Line facility.

The company’s BNPL offering which enables customers to avail of flexible, interest-free credit witnessed a 30% Y-o-Y growth. For its BNPL offering, the company has partnered with leading brands across eCommerce, mobility, fashion, and pharma such as Amazon, Flipkart, Myntra, Uber, Apollo, Urban Company, and Big Basket among others.

The company which turned profitable on a month-on-month basis since November 2018, today boasts of over 10 million registered users and more than 20 million app downloads, with over 30,000 downloads and 3,000 loan applications witnessed every day. The company’s loyal customer base of over 5,00,000 comprises over 75%, of repeat users.

Speaking on the announcement, Mr. Joginder Rana, Vice – Chairman & M.D, CASHe, said, “Crossing the 4k crores mark is a significant milestone on our roadmap for CASHe Vision 3.0 and testifies our commitment towards extending easy and affordable credit to young India. We have consistently clocked over 10% M-o-M growth in loan disbursals and are expecting to close FY22-23 with disbursals worth over Rs. 3,600 crores. With innovation and technology at the core of what we do, we have built CASHe into a one-stop platform offering the full gamut of financial services for the new-age Indian. Today through its modern credit infrastructure platform, CASHe is making responsible and instant credit accessible to millions of young Indians, thereby transforming the credit landscape of India, whilst setting new benchmarks in customer satisfaction and operational standards.”

The company recently announced its foray into the wealth management space with the acquisition of Sqrrl, a Gurgaon-based WealthTech platform, in an all-cash deal (Subject to regulatory approvals). The strategic buy-out broadens CASHe’s millennial-focused credit-led product and services suite to now cover their investment and wealth management needs as well. As part of its value-added services, the company further stated that it now assists its customers with attractive home loan offers through its home loan referral program. It has also tied up with Zopper to offer its customers a unique yearly subscription-based CASHe Device Care plan which enables users to repair their home appliances.

CASHe’s unique proposition lies in its proprietary AI-based algorithm platform - Social Loan Quotient (SLQ). SLQ assesses the risk of a borrower based on the user's social and mobile data footprints thereby providing credit to those that don’t qualify for credit from conventional lending. Besides offering faster credit decisions, SLQ has enabled CASHe to seamlessly capture untapped markets among the financially excluded sections of society. Its affordable interest rates, instant processing, flexible repayment options make it a preferred credit platform for salaried professionals.

Paul Taylor, founder and CEO of Thought Machine, said: “We have built Vault Payments entirely from first principles – free from the constraints of legacy technology. Vault Payments is fully configurable by clients, giving them the power to process card and payment scheme messages freely – with execution logic they design themselves. This is a first for the payments industry – and the next foundational technology we have built, underpinned by our product excellence.”