The Fintech Times News Roundup
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This Week in Fintech: TFT Bi-Weekly News Roundup 02/08

The Fintech Times Bi-Weekly News Roundup this week sees new hires for Mollie and Atom while TrueLayer has partnered with WealthOS.

Job moves

Chris Lewis, Head of Solutions with data insight specialist Synectics Solutions, has been appointed to the Executive Board of the Open Identity Exchange (OIX), a non-profit trade organisation dedicated to creating a world where everyone can prove their identity and eligibility anywhere through a universally trusted ID.

The Board of Directors of the Dubai Financial Services Authority (DFSA) have accepted the resignation of F. Christopher Calabia, effective 31 August 2022. He will be succeeded by Ian Johnston, who served as the DFSA’s Chief Executive from 2012 to 2018, and will reprise his role from 1 September 2022.

Mollie has announced the appointment of ex-Worldpay executive Michaela LeBlanc Weber as its new Vice President of Partnerships. She will work to develop and maintain our strong relationships with local and global partners as well as continue to promote gender inclusion and the empowerment of women in fintech.

James Jamieson has joined Hargreaves Lansdown from RBC Global Asset Management, bolstering the HL Select team, managing the HL Select UK Growth Shares fund and the HL Select UK Income Shares fund.

Xsolla, a video games industry payments company, has hired former Meta talent Sebastien Totté to drive Xsolla operations in the UK. As Xsolla’s Senior Country Manager for the UK, France & Benelux, Sebastian will build relationships with games studios in the region.

job moves

More job moves

MX, a provider of Open Finance, announced that Jim Magats has been named Chief Executive Officer, effective August 17, 2022. He joins after 18 years as a senior executive at PayPal Inc., and brings a wealth of experience to the company.

Bibby Financial Services (BFS) has appointed Marion King as Non-Executive Director as it continues to work towards its ambitious growth strategy. Marion has held senior executive roles with NatWest Group, Mastercard, Vocalink and Reuters.

Trive, the multi-asset investment platform has appointed Travis Robson as its new Managing Director for South Africa. This new appointment will be instrumental in the roll out and running of the operation in South Africa.

Atom has appointed Rebecca Cartwright as the bank’s new Chief Risk Officer, replacing Chris Sparks, who is retiring after almost 7 years at the app-based bank. Cartwright will work to safeguard Atom’s position as a progressive, innovative, and customer-centric business, as it continues to create a new model for banking in the UK.

Funding and Investments

B9 Inc, a fast-growing payroll solution platform, has announced a $2.6million funding round led by Sky Light Invest. The company plans to use the funds to invest in product development, specifically to release inflation-fighting and revenue-generating features that help customers who are underserved by the traditional banks

Provider of client onboarding and relationship management software for the accounting industry, FibreCRM, has secured a second round of investment, taking its total recent investment to £1million. The funding to support its ambitious plans, including additional investment in marketing and exciting new work opportunities.

Peech announced today that it has raised $8.3million in seed funding. The round was led by Ibex Investors with participation from Cardumen Capital, Fresh Fund as well as angel investors Nas Daily, Ariel Maislos, and others. Peech will use the funding to expand its AI capabilities and to diversify its media creation solutions.

Quasar Finance has raised $6million from a range of leading investment firms, including Polychain Capital, Blockchain Capital, Figment Capital, Lightshift Capital and Galileo. The firms have backed Quasar Finance’s vision to create a range of accessible, structured investment products within the DeFi ecosystem, that investors and liquidity providers alike can benefit from.

Grasshopper, a digital bank serving small businesses and the innovation economy, has announced today a $30.4million equity raise to support future strategic growth initiatives via lending, deposit and payment solutions for small businesses.

parntnerships

Partnerships

Broadridge Financial Solutions, Inc., announced a global partnership with Blue Ocean Technologies (BOT), a unique capital markets Fintech focused on global afterhours trading. Blue Ocean ATS (BOATS) will integrate with Broadridge’s NYFIX order-routing network to offer clients untapped, after-market access to US equities.

Molo Finance, the UK’s first fully digital mortgage lending platform, is announcing the strategic partnership with ColCap Financial, an Australian mortgage lender that is partnering with Molo to expand into the UK.

Open banking platform TrueLayer has partnered with WealthOS, the SaaS platform that accelerates digital adoption and innovation for wealth managers. Together the companies bring the benefits of instant bank payments – improved speed, customer experience and security, at a lower operational cost – to the account funding process.

Armis, the unified asset intelligence platform, has joined the industry body for financial services in the UK, UK Finance, to help members tackle cybersecurity challenges stemming from managed or unmanaged connected assets in their environments.

ID-Pal, the identity verification provider, has been appointed by Lerex Technology, the payment solution provider, to help with its growing identity verification, e-verification, Anti-Money Laundering (AML) and Know your Customer (KYC) requirements.

Company announcements

Odoo has chosen Kenya to establish its first African office, beginning operations on July 1st 2022. “It was very important for us to open this new office and 2022 was the year to do it. We wanted to be closer to our customers and address them locally, with local talents, which is something we cannot achieve from afar.” says Fabien Pinckaers, CEO & Founder of Odoo S.A.

Mashreq, has launched a non-banking business services platform called Mashreq Business Banking Value Added Services, forming part of the Bank’s commitment to enabling business success and helping SMEs do business better. The new platform provides businesses with privileged access to a select group of innovative fintechs, start-ups and other service providers with a range of unique offerings.

Sunbit the company building financial technology for everyday expenses, announced that it has expanded beyond point-of-sale lending with the introduction of a new, next-generation credit card. The Sunbit Card is revolutionary in simplifying the way consumers manage their finances, eliminating the need for budgeting between credit cards and payment methods.

Pidgin, a secure real-time payments platform built for the future of payments, announced that United Bankers’ Bank, the nation’s first bankers’ bank, is extending the platform to its more than 1,000 community banks across the West Coast to the Great Lakes and South Atlantic, providing them with a fast, easy and secure way to send and receive payments.

Open banking platform Yapily has today launched Yapily Variable Recurring Payments (VRP) to accelerate innovation across the open banking ecosystem.

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