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This Week in Fintech: TFT Bi-Weekly News Roundup 13/04

Welcome to The Fintech Times Bi-Weekly News Roundup on Thursday 13 April.

Partnerships

Qredo, a provider of digital asset self-custody solutions, is an institutional partner in the Avalanche Spruce testnet. Avalanche has provided Qredo with access to the Spruce testnet via MetaMask Institutional and WalletConnect. Qredo will also utilise the Spruce testnet to assess various applications and assets so as to understand the potential benefits of on-chain trade execution and settlement.

Vouch has forged an embedded insurance API partnership with StartupOS. StartupOS users can now get quotes for general liability and business property insurance coverages from Vouch directly from the StartupOS platform. Additionally, the platform will host free risk management training modules from Vouch that are designed specifically for early-stage founders.

Digital payments network MFS Africa has partnered with Access Bank, Nigeria’s largest bank. The partnership will provide simplified transfers for AccessAfrica customers. AccessAfrica customers will also be able to receive payments from all over the world through MFS Africa partners.

Mercuryo, the all-in-one cryptocurrency platform, partners with Simpledo, a crypto provider in Turkey. The partnership is aimed at expanding Mercuryo’s global presence and enhancing its services for customers in Turkey. Simpledo can leverage Mercuryo’s expertise to provide its customers with a seamless experience.

There’s also a partnership for Themis and SeedLegals. The two companies will promote each other’s services and work together to provide a comprehensive offering to startup customers, covering the legal and administrative aspects of undertaking the funding process and associated screening and due diligence on potential investors.

ION Markets, a provider of trading platforms, analytics, and risk management solutions for capital markets, announces the connection of its LatentZero order management system (OMS) to fintech Trumid. The link adds connectivity to ION Markets’ OMS for all markets and brokers worldwide, across every asset class.

partnerships roundup

More collaborations

Delma Exchange, a foreign currency exchange provider, has opened, in collaboration with Western Union, the first concept store in the UAE. Over the next few weeks, all five Delma Exchange locations in the UAE will be re-branded to reflect the collaboration with Western Union and new identity in the region. Both companies will offer customer-centric services.

Blockchain App Factory has established a strategic partnership with bitsCrunch. The brands will leverage the combined power of their technologies to empower users with forensics and AI-powered real-time analytics. The strategic alliance is aimed at making NFT trading a highly informed decision for users across the globe.

Hoxton Capital Management, a borderless financial advisory firm, has teamed up with Salt Edge to offer internationally mobile people and expatriates a more comprehensive and detailed view of their finances, helping them make the most informed financial decisions, including investment.

Capital Bank has gone live with Finastra’s Corporate Channels and will soon follow with Trade Innovation as well as other Corporate Channels modules. The combined offering will help to streamline banking services for corporates in Jordan, Iraq and Saudi Arabia. Once fully implemented, the solutions will enable the bank to digitalise manual tasks as well as process lending operations quicker.

US bank Regions Bank has selected Temenos to modernise its legacy systems for customers’ records and deposits on the Temenos Banking Cloud. The move to software as a service will enable Regions Bank to deliver more seamless customer experiences and more personalised banking products and services designed to help consumers and businesses reach their financial goals.

Company updates

Global intelligence and cyber security consultancy S-RM has opened a new office location in Manchester. It is S-RM’s second UK hub and creates a strategic regional presence in the North for S-RM’s growing portfolio of clients, partners, and employees. The expansion brings the company’s global presence to nine offices globally.

Ecospend, an open banking provider recently acquired by Trustly, has joined PIMFA WealthTech, the digital marketplace and industry network created to drive innovation and enhance collaboration between WealthTechs and wealth management firms, to provide a proof of concept ‘Pay-by-Bank’ solution to its members.

EC1 Partners, a fintech talent partner, has launched EC1 Executive. Spearheaded by Jamie Cole and George Fierstone, EC1 Executive specialises in connecting C-Suite leadership with top-tier fintech companies worldwide. EC1 Executive focuses on areas including electronic trading, data, research & analytics, capital markets software, ESG & climatetech, regtech, crypto, digital assets and blockchain.

German airline Hahn Air has launched a fintech global payment orchestration platform for travel merchants. The new payment platform uses cloud-native technologies to integrate acquiring banks, payment, fraud, forex, and chargeback providers and offer a fully automated and seamless payment solution. It aims to reduce shopping cart abandonment as well as increase sales conversion.

Truflation launches its first premium subscription service. Truflation Premium give users unrestricted access to the firm’s CPI inflation data. With Truflation Premium, users can view Truflation’s full UK and US CPI data including all sub-category indexes. From this, subscribers can build personalised dashboards, allowing investors to pinpoint the data that matters most to their portfolios.

Linedata, a provider of asset management and credit technology data and services, has expanded its services capabilities and offerings in APAC. Linedata has extended its APAC offerings to include new industry segments namely private equity, private credit, specialised and structured credit, as well as allocators and aggregators.

funding roundup

Funding and investment

Fintech SME Finance has agreed to a new €100million credit facility from London’s Fasanara Capital. The new funds bring the total commitments from Fasanara to €240million. The additional credit capability moves SME Finance closer to its 2023 goal of establishing an EU-wide fintech marketplace where any business can access services ranging from traditional business loans to revenue-based financing to embedded finance solutions.

Hakbah, the Saudi-based fintech savings platform, closes a $2million, pre-Series A funding round. Global Ventures and DIFC-based Aditum Investment Management participated in the round, providing Hakbah with its first institutional capital. The funding follows approval granted by the Saudi Central Bank (SAMA).

Native cloud platform specialist Forrit will expand its operation after receiving scale up support from the Scottish National Investment Bank. The £5million of funding will enable the Edinburgh headquartered technology developer to expand its workforce and target new markets. The Bank’s backing will see the creation of 15 new skilled jobs. It will also strengthen Forrit’s relationship with Microsoft as a trusted partner.

Job moves

National Business Capital, the fintech marketplace in business financing, hires Lucas Sophocleous as vice president of technology. Before joining, he worked at NBCUniversal Media, where he led sales enablement for NBC Universal’s national, local and global ad sales.

Edda has appointed Roxanne Varza, director of Station F and Scout at Seqouia, as a strategic adviser. As the newest addition to Edda’s advisory committee, Varza will advise on the company’s growth strategy, as well as support Edda in expanding its footprint within the tech ecosystem, both in France and worldwide.

Serco appoints Daniel MacGregor as chief growth officer – a new role for the Middle East region. The promotion of MacGregor into the role comes as Serco continues to strengthen its position in the UAE alongside growth in the Kingdom of Saudi Arabia, to support Vision 2030.

Meanwhile, WealthKernel, a provider of digital investment infrastructure, appoints Brian Schwieger as its new chair. Brian was previously the global head of equities and ETF trading at the London Stock Exchange (LSE). He will provide strategic guidance and expertise to support the company’s executive team.

job-hires

Additional appointments

Asanka Abeysinghe is named chief technology officer of WSO2. Abeysinghe, who has held several technology leadership roles at WSO2 since 2008, most recently served as the company’s chief technology evangelist. He brings more than two decades of experience in software architecture and development.

Nium appoints Anupam Pahuja to EVP and general manager of Asia Pacific, Middle East and Africa. Pahuja will build on Nium’s success in Southeast Asia, where the fintech unicorn was founded, and will expand Nium’s presence into additional markets within APAC, the Middle East, and Africa. He will be based in Nium’s Singapore headquarters.

Lightspeed Commerce has named Liam Crooks as managing director for EMEA. Formerly Lightspeed’s senior VP of hospitality, Crooks also previously spent 10 years at Yelp as vice president of sales. Crooks’s role will focus on driving profitable growth across the EMEA region, expanding the company’s current customer base as well as supporting customers through current economic conditions.

Author

  • Claire is an experienced editor and writer with 25 years of experience in the publishing industry. As a tech journalist, Claire has covered every subject possible over the years, from the launch of broadband and next generation mobile networks to the arrival of the metaverse and Web3.

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