The Fintech Times Bi-Weekly News Roundup takes a look at the latest international fintech stories. In addition to the latest appointments, this Thursday, September 24th, we will also hear about partnerships between MoneyGram and Tesco Bank. Plus, ClearBank and tide Celebrate some big news.
Former COO of the HSBC Group Andy Maguire joins Thought machine as a new chair. The cloud-based core banking tech company hopes Maguire will aggressively pursue its international growth plans in the coming years. In addition to Maguire's appointment, Thought Machine will introduce new customers in the coming months.
Stephen Reidy will drive strategic growth at GoCardless after taking on the role of VP and General Manager UK & Ireland at Fintech. Reidy will also implement GoCardless' go-to-market strategy and cross-functional management of its high-performing teams.
Regtech ComplyAdvantage Appointed Richard Orme as Chief Technology Officer and Anna Keren as VP of Technology. In addition to the new hires, the company was recently recognized by a research company Celent and Chartis as a "leading provider of solutions for AML risk data and financial risk management".
Partnerships & cooperations
MoneyGram and Tesco Bank have introduced an international online money transfer platform. MoneyGram and Tesco customers can use it to set up their transactions online and then pay with cash or card in Tesco branches. With the new service, customers can also easily send money abroad.
Everlink payment services has asked Financial software and systems (FSS) Modernize card operations to support future growth plans. An FSS-API-based solution replaces the older Everlink card issuing infrastructure.
We are very excited to work together on this digital transformation journey to offer more choice and innovative services. The Canadian market is heavily dependent on card issuance and is rapidly digitizing.
Nagaraj V Mylandla, Founder, Chairman and CEO of FSS.
While Tribal payments and Currency cloud Partner to offer fintechs and digital banks a new banking-as-a-service solution. The cooperation not only offers "complete transparency of foreign exchange costs for international card transactions", but also enables customers to access wallets with multiple currencies.
Flexible cash flow solutions for small businesses are on the way after that Payment systems and Priority Commercial Payments Team up with fintech Behalf Inc.. The companies say their collaboration will also help companies prepare for the cash flow disruption as a result of Covid-19.
Next up the SimplyBiz Group and Wealth say their new partnership will provide advisors with an affordable digital investment option. This will also lead to “improved efficiency and improved business performance”.
Payment company EBANX will offer further e-wallet solutions in Brazil after the connection PayPal. Last year, digital wallets were the third most popular payment method for e-commerce purchases in Brazil, according to Americas Market Intelligence.
Finally, authentication expert Regula worked with Liechtenstein Cryptoassets Exchange (LCX).
In particular, LCX will use Regula's digital forensic technology to meet your clients' requirements under the Liechtenstein Due Diligence Act (DDA).
Financing, mergers and industry updates
Cloud-native clearing bank ClearBankin partnership with the commercial bank Tide, was awarded £ 25 million by the RBS Alternative Remedies Package. Tide says it is grateful that BCR "has given the opportunity to create a real alternative to the oligopoly that has dominated the UK SME market for too long".
The Tel Aviv Stock Exchange hopes to attract high-tech and fintech companies after the introduction of a new data system. The API-based TASE Data Hub provides daily data, end-of-day data and historical data using customized parameters.
Syfe, The Singapore-based digital wealth manager has raised SG $ 25.2 million in a Series A funding round led by a fintech-focused investment firm Valar Ventures. With customers from 23 countries, Syfe will use the funds to open up new markets and develop new products and services.
Next, Paya, the integrated payment provider, is available for purchase The payment group (TPG). In addition to investing in TPG's sales efforts, Paya will also integrate TPG's online billing and software applications into its end-to-end payment platform.
While Intel Capital says it has decided to invest in Israeli startups EasySend due to its intelligent and powerful approach to accelerating digital transformation. EasySend has built a no-code platform for insurance companies.
UncappedThe revenue-based finance startup has its sights set on rapid European expansion after investments. Mouro Capital, the successor fund of fintech specialist Santander InnoVentures, has led a financing round of USD 26 million in Uncapped.
Making digital payments available to all South Africans is the goal ofOzow Revolution". As part of this "visionary effort" Ozow also introduced two new online payment solutions for its platform.
Fintech TotallyMoney introduced a new app-only feature that uses credit history data to highlight blindspot borrowing. The loan assistant scans a customer's credit data and gives them an overview of their borrowing.
We are on a mission to improve the UK's credit rating. The loan assistant can help people review their borrowing and understand how to make better decisions.
Alastair Douglas, CEO of TotallyMoney