The Fintech Times Bi-Weekly News Roundup on Tuesday brings you the latest fintech developments from around the world.
Company updates
Global payments provider Checkout.com has announced its expansion to Israel and the opening of a research and development hub in Tel Aviv. At its new hub, Checkout.com will hire engineers and product staff in the double digits. The Tel Aviv hub joins offices in New York, Spain, Estonia, China, Saudi Arabia, London, Ireland as well as Germany.
Open Invention Network (OIN), the organisation formed to safeguard open source software (OSS), has welcomed U.S. Bank as a community member. U.S. Bank is the largest regional bank in the US by assets. As a community, OIN members practice patent non-aggression in core Linux and adjacent open source technologies by cross-licensing Linux System patents to one another on a royalty-free basis.
Job moves
Mahalo Banking, a CUSO that provides online and mobile banking solutions for credit unions, reveals Ken Kondo, former VP of software development, has been promoted to chief innovation officer. Kondo will now lead a new division dedicated to exploring platform innovation opportunities while implementing modern industry solutions to its platform.
Hazeltree, a treasury and liquidity management technology firm, for the alternative asset industry, has appointed Paul Higdon as CTO. Higdon joins Hazeltree from ION Treasury, where he was chief product officer, responsible for the product portfolio vision, technology and innovation strategy.
Hargreaves Lansdown appoints Maike Currie as head of marketing campaigns & content. Currie joins HL from Fidelity International. Prior to Fidelity, Currie headed up Investec Asset Management’s (now NinetyOne) Investment Writing function.
Exotec, the global warehouse robotics provider, has named Yann Leca as chief financial officer, to support the company’s sustainable growth and accelerate its global footprint. Previously executive VP and CFO of OVHcloud, Leca will drive Exotec’s financial strategy.
Stenn, the digital financing platform for SMEs, has restructured its operations team. After splitting it into fraud management, compliance, customer support and customer success, and finance operations, Stenn also announces three senior hires. Dimitrie Dorgan joins as global head of fraud, Rui Evaristo as global head of customer support and customer success, and Matt Buchanan as global head of compliance. Theis follows the recruitment of Fozia Raja as chief people and culture officer and Carl Robson as director for people and culture, earlier this month.
Funding
The Development Bank of Wales has backed international fintech startup AGAM in a recently-closed funding round. Cardiff-based AGAM delivers an AI-based credit scoring service to people without a credit history or those looking to secure small loans. AGAM also recently announced a partnership with SBK Foundation, Bangladesh’s first digital-only microfinance provider.
Boodil, a Manchester founded open banking payments and consumer engagement app, has raised £525,000 in pre seed funding. The pre seed raise saw investment from angels and high profile business leaders including Louis and Reg Rix.
Partnerships
Cogo and NewDay partner to add carbon footprint insights to Bip digital credit product. The partnership also integrates carbon footprint technology into the Bip app. Bip and Cogo will support this with email, website and in-app prompts providing customers with information on carbon footprint misconceptions as well as advice on how to lower their carbon footprint.
LemonEdge, a global digital accountancy platform, announces a partnership with GFT to shift private capital firms to the cloud at scale. The partnership with LemonEdge completes a trifecta of cloud migration partnerships for GFT.
LianLian Global, a cross-border payments provider, has partnered with iwoca, RITMO and YouLend. These partnerships will allow LianLian Global customers to access a variety of capital-access products with discounts of up to 20 per cent from other high-street providers.
There’s also a partnership for DivideBuy, the UK point of sale finance firm and Acquired.com, a UK payment initiation service provider. Using Acquired.com’s smart automated tools, the partnership will reduce involuntary churn, slashing the number of declined transactions, as well as empowering greater data insights.
Railsr has teamed up with fraud and financial crime prevention firm Featurespace to protect its customers and their consumers from the growing threat of financial crime. Through the partnership, Railsr will combine its own fraud teams with solutions through Featurespace’s ARIC Risk Hub.
