The Fintech Times Bi-Weekly News Roundup takes a look at the latest international fintech stories. As well as industry appointments, this Tuesday we feature #PAD20, partnerships and the latest insight.
It’s Pension Awareness Day #PAD20
Investment manager SEI says a new partnership with Moneyhub will turbocharge its master trust offering to help members save more for retirement. Moneyhub’s machine learning technology will be used to offer ‘easy-to-plan retirement saving functions’ to SEI’s institutional clients.
Moneyhub and its powerful, insightful open finance solutions seamlessly support our vision, creating a highly personalised user experience.
Penfold, the pensions startup, is running a #PAD20 prize draw quiz for customers to win £500 for their pension pot. In addition, every new customer that signs up on Pension Awareness Day will get £25 in their pension pot.
Partnerships and collaborations
Azimo, the global money transfer service, has hooked up with Alipay to provide instant money transfers to China. Following the partnership, Azimo users will only need a recipient’s Alipay ID to make an instant transfer in Yuan.
Meanwhile, UK-based Paysend can offer its money transfer service to US consumers following a new partnership with Central Payments, the payments subsidiary of Central Bank of Kansas City. Paysend’s US launch has been hailed by Central Payments as ‘particularly timely’ as consumers look for flexible cashless money transfer options.
Digital payment platform Payoneer has unveiled its ‘Payoneer For Banks’ programme in collaboration with 10 international banks. The aim is to help financial institutions provide businesses of all sizes with a way to make or receive cross-border payments.
Finally, AMTD ASEAN Solidarity Fund has revealed investments in five fintech companies. Its ‘first batch’ of investments – totalling S$11.5million – goes to Funding Societies, Active.ai, Cardup, Transwap and PolicyPal.
Launches and announcements
Crypto.com has unveiled a Spanish version of its app and exchange as part of its mission to accelerate the world’s transition to cryptocurrency. In addition to the recent release of a French version, Crypto says it will support more languages in the near future.
Meanwhile, cryptocurrency banking app Abra adds 18 new cryptocurrencies for trading. Available in more than 150 countries, the Abra app enables consumers to buy, sell, hold, trade, and earn up.
Mahmood Ahmadu, founder of Online Integrated Solutions, scooped a Forbes Best of Africa Award for 2020 this week. He has pioneered fintech services in the African market since 2012.
Payment service provider Mollie has raised €90million in a Series B funding round led by equity investors TCV. Mollie will use the funding to further accelerate its global expansion, as well as invest in new product development.
Finally, London-based fintech company Curve is expanding Google Pay access across 14 European countries. Google Pay on Curve unlocks contactless payments for people whose traditional bank cards are not equipped with near field communication (NFC) technology.
Research and insight
Independent spend management company JAGGAER says procurement professionals need to ’embrace the latest technologies to ready themselves for autonomous procurement’. In a new white paper, it also warns that several digital procurement solutions claim to use AI when they simply mimic it using classical statistical approaches.
More people are choosing virtual methods of banking, according to research from insight firm Toluna. Furthermore, Covid-19 has accelerated an interest in sustainable investments particularly with those aged between 18 and 34.
Industry moves and placements
Visa has appointed Eva Ngigi Sarwari as country manager for Kenya. As part of the East Africa Leadership team, Sarwari will develop and implement Visa’s growth strategy in Kenya.
Yorkshire Building Society is hiring 35 new tech professionals as part of its investment in digital capabilities. In addition to launching its native mobile app, the Society says investing in this area will enable it ‘to service our customers more effectively and efficiently’.
Mediolanum International Funds Limited (MIFL) has hired Barry Noonan as its new chief information officer. The European asset management platform says Noonan will contribute in shaping a data-driven decision-making culture, as well as spearheading its Irish IT strategy.
Dave Frisone has been promoted to chief revenue officer at fintech SmartAsset. Formerly senior vice president of financial advisor revenue, Frisone will be responsible for all revenue-generating functions at the company.
