The Fintech Times Bi-Weekly News Roundup on Tuesday 23 August serves up a selection of fintech updates from around the world.
Standard Chartered has named Ayesha Abbas, formerly of HSBC before joining Standard Chartered in 2019, as its newest head of consumer, private and business banking. She will become responsible for executing the bank’s strategy and building the business in the retail banking business across the United Arab Emirates.
Channel Capital Advisors LLP has appointed Ion Fratiloiu as its new chief commercial officer. Fratiloiu brings over a decade’s worth of experience in sales and commercial strategy; having previously worked with the likes of Yobota, Thought Machine and Deutsche Bank.
Zolve, the cross-border neobank, names Douglas T Hamilton as its new chief compliance officer. Hamilton’s new role will see him strengthening compliance and adding to Zolve’s business growth and expansion.
Finally, FinaMaze, an asset management firm, has added Nikhar Patel to its team as chief operating officer. Patel specifically offers extensive knowledge in regard to growth experience after working with three consecutive unicorns.
Acquisitions and Partnerships
Verso Wealth Management has announced its acquisition of Campbell Thomson Insurance Services Limited, bringing its total assets under management to over £1billion. This becomes the fifth acquisition by the Verso platform and the first based in Scotland, as it looks to expand its UK outreach.
British peer-to-peer lending company Assetz Capital is partnering with LexisNexis Risk Solutions to adopt the use of the ‘RiskNarrative’ platform. Assetz Capital has already seen reductions in time taken to complete KYC and AML checks with the platform and aims to further enhance these detection capabilities.
Cards as a service platform SimpliFi has partnered with Abu Dhabi Islamic Bank to support its outreach into Egypt. SimpliFi aims for the move to help jumpstart payment digitisation for Egyptian companies and businesses.
Vyne, the account-to-account payment platform, has forged a partnership with software-as-a-service platform Wix. The partnership will allow Wix merchants to access Vyne’s bank payments solutions; which will enable them to offer payments in as little as three clicks.
Payment platform Adyen has announced solid H1 2022 financial results, reporting sustained growth of profits and continuing growth of scale of 37 per cent each year. Adyen also showcased a net revenue of €608.5 million.
Saudi Arabian buy now, pay later firm Tamara, has raised $100million in its most recent funding round. Tamara looks to use this funding to launch a range of new products and services, as well as to expand to a wider range of new markets.