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This Week in Fintech: TFT Bi-Weekly News Roundup 27/04

Welcome to The Fintech Times Bi-Weekly News Roundup on Thursday 27th April.

Partnerships

Melio, a B2B payments platform for small businesses, has announced a partnership with Shopify to power Shopify Bill Pay, an accounts payable solution that will transform how Shopify merchants pay and manage their business bills.

Dukascopy Bank and Clear Junction have partnered to provide licensed electronic money institutions and payment institutions with a one-stop solution that satisfies their banking and payment needs.

Embedded finance provider, Sonovate has partnered with global HR platform, Deel to support its customers with on-demand, scalable funding solutions as they expand overseas.

Dialect Communications, a Business Process Outsource that offers customer experience solutions for Fintechs, is partnering with Paynetics, to provide world-class customer engagement services for both the UK and European markets. The partnership will support the FCA’s new consumer duty requirements to deliver clear customer communication and support.

Ebury, the London-based global financial technology firm, has announced that it has been appointed by InCorp to provide payroll payments for its underlying clients.

partnerships

More partnerships

The African Development Bank and ILX Management B.V. have signed a partnership agreement to scale up investments and spur institutional investor capital mobilisation for Sustainable Development Goals and climate-focussed private sector projects in the Bank Group’s regional member countries.

IXOPAY, an independent payment orchestration provider, and EBANX, a fintech company that specialises in international payments in rising markets, have announced a partnership to focus on providing access to local payment solutions for global brands and offering local payment methods to consumers.

WSO2 announced a new partnership with global IT distributor and solutions aggregator TD SYNNEX. This partnership brings WSO2’s software for API management, integration, and customer identity and access management (CIAM) to TD SYNNEX’s expansive global IT ecosystem.

FintechOS, a financial technology company, and Ernst & Young SRL (EY Romania) have partnered to simplify and support the launch and service of banking and insurance products and support detailed transformation journeys through innovation, business knowledge and the implementation of FintechOS’ fintech enablement platform.

Job moves

Moneycorp Bank’s Financial Institutions Group has recruited Vijayanand Kulanthavielu in the role of Senior VP to spearhead the growth of Moneycorp Bank across the MENA territory.

OneID, the identity service provider, has announced the appointment of Paula Sussex as CEO who will lead the firm through its next period of expansion.

Mike Hughes has joined Citi Security Services as Global Head of Custody Product Development. In this new role, Hughes will be responsible for driving our refreshed custody strategy across all its proprietary markets and global models.

Payments company NMI has named Tiffany Johnson as its new chief product officer (CPO) to support the company’s expanding product suite and rapid growth.

Global financial services provider, Apex Group welcomes Martin French, Chief Data Technology Officer. Martin was previously Head of Data Engineering at Sanne Group, and has extensive experience of data management across multiple sectors.

Jobs roundup

Funding and investments

Wayhome, the Gradual Homeownership provider, announced that they have closed a Series A equity funding round of £8million to provide cash runway to break even point as Wayhome continues to disrupt the conventional home buying space with their unique Gradual Homeownership model.

Tableland, a permissionless relational database for web3 applications, announced a $8million Series A round led by CoinFund with participation from Multicoin Capital, Blueyard and A Capital.

FinanZero, an online credit marketplace in Brazil, has announced that it has raised $1.5million in an investment round. The funding will be used towards strengthening FinanZero’s position in the market through product development,

Company updates

FinTech Wales, has welcomed one of the largest professional services networks in the world, PwC, as its newest Enterprise Member. By joining the organisation, PwC will have full access to the FinTech Wales community and the resources it provides.

Valley National Bank, has launched a new innovation platform which will accelerate and enhance its collaboration with fintech companies to meet the needs of Valley’s customers in a rapidly evolving digital environment.

Digital pensions provider Penfold has surpassed £200million in assets under administration (AuA) this month, more than doubling from £76million AUA just under a year ago.

Tide, an SME-focused business financial platform, announced the launch of the MSME Exchange Programme (MEP) – an initiative designed to localise entrepreneurship and foster bonds between small business owners from India and the UK.

Global financial technology provider FIS has announced its Worldpay merchant business will be expanding its payment processing capabilities into the United Arab Emirates (UAE) this year.

KoinKoin, the Africa-focused digital assets exchange, has appointed Centropy PR to manage its global communications programme following a competitive pitch process.

Mergers and Acquisitions

Latin American open finance and payments platform Belvo has announced the acquisition of Brazilian payment institution Skilopay. This acquisition allows Belvo to further develop its strategy as an account-to-account payments provider in Brazil and Latin America

TAS S.p.A., suppliers of banking and financial software, has acquired the entire share capital of Mitobit Srl , a Tech-Enabler founded in 2014. Mitobit has a strong focus on technological innovation and digitisation, providing services in the IT area, including software development and as-a-service platforms, mainly focused on payments and e-money for the Finance sector.

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