The Fintech Times Bi-Weekly News Roundup takes a look at the latest international fintech stories. In this Thursday’s spotlight we address the latest appointments, collaborations and #BitcoinForBeirut.
On the move…
Suraj Badlani is the new chief financial officer and head of corporate development for international technology platforms Chargebacks911 and Fi911. Badlani has more than 20 years’ experience in the financial industry, including at Deloitte, Lehman Brothers, JP Morgan and Nomura. He will focus on corporate strategy and financial growth management of both brands, while assisting in commercial scale.
Iress, the financial services software provider, has promoted Andrew Simon to the role of executive general manager of lending. Simon joined Iress in 2013 with his previous role as executive general manager of product – now he will help clients leverage technology to increase automation and efficiency.
Over at Dubai-based TPAY MOBILE, Dheeraj (Raj) Soni is the new chief operating officer – given the job of overseeing the digital payment company’s cross-regional financial services.
Meanwhile, a board shake-up at moneycorp, the foreign exchange and international payments specialist, has seen Alan Bowkett become chairman. William Paul and Adam Jones are appointed as non-executive directors.
slice, the Indian payments and credit startup, names Sudhesh Chandrasekar as its chief financial officer. He was formerly the CFO of Spandana Sphoorty, one of India’s oldest and largest microfinance institutions.
Furthermore, digital finance platform AMTD Digital names Osman Ershad Faiz as chief information and operating officer. Faiz has served as a director of the Singapore Clearing House Association and was awarded the Institute of Banking and Finance Fellow Award.
Business development & investments
Hub71, a tech ecosystem launched in Abu Dhabi to promote innovation and support the growth of transformational tech startups, has chosen 11 emergent companies to join its latest cohort to receive non-equity subsidies. They will enjoy 100 per cent free housing, office space and health insurance for two years for seed companies and 50 per cent subsidises for three years.
Six fintech firms serving the UK’s small and medium sized businesses have scooped £20million in funding from the Banking Competition Remedies board. Funding Xchange and Onfido have picked up £5million in grants, while Codat, ezbob, Fractal Labs and Previse get £2.5million each. Banking Competition Remedies was set up by the UK government to distribute £775million of money from Royal Bank of Scotland following its state bailout in 2008.
Meanwhile, Tradeshift, the payments and marketplaces operator, is teaming up with Raindew Trade to launch an instant supplier payment scheme. The aim is to help South African businesses with cash flow problems during the Covid-19 pandemic.
Currency.com, the regulated crypto assets platform, says a licence in Gibraltar is the latest step in its global expansion plans. It now has a distributed ledger technology licence from the Gibraltar Financial Services Commission (GFSC), in addition to the Republic of Belarus.
Collaborations in the UAE
UAE insurance company Insurancemarket.ae is partnering with tech-enabled payments platform Spotii, in a mission to develop the first payment-splitting offering that commits to customer-centricity.
“InsuranceMarket.ae shares our core philosophy of providing the consumer with convenience and affordability. We are thrilled to expand our offering in conjunction with such a renowned, trusted partner, and look forward to growing our offerings together.”
The collaboration between procure-to-pay provider JAGGAER and the Dubai Government is lauded for providing buyers and prospective suppliers the ‘most efficient, effective, and transparent means of interaction’. The portal is designed to provide an opportunity for suppliers to participate in transparent online bidding activities for contracts and tenders for 40-plus major Dubai Government entities.
A partnership agreement with the Massachusetts Institute of Technology (MIT) will see the Dubai Heights Academy (DHA) offer classes focusing on AI-powered systems and technologies. DHA is a British curriculum school located in the heart of Al Barsha South.
Support for Lebanon
Facebook is giving millions to local hospitals, medical institutions and non-governmental organisations in Lebanon. Its aim is to support relief and recovery efforts following the devastating explosion in Beirut in early August.
In addition, the International Medical Corps (IMC) is partnering with blockchain search engine Blockchair and non-profit business to consumer payment processor The Giving Block to launch #BitcoinForBeirut.