The Fintech Times Bi-Weekly News Roundup takes a look at the latest fintech stories from around the world on Thursday 8 August 2024.
Appointments
Torpago, a commercial credit card and spend management provider for banks, hires Chris Boncimino, as head of business operations. In his role, Boncimino will lead operations with a focus on growth and product development for Torpago’s ‘Powered By’ program management service. He most recently founded Flow Networks, a consumer engagement and retention company in the payments sector, and also served as CEO.
Intix, a transaction data management company, has appointed Karthik Jagannathan as the company’s head of payments advisory. He brings over two decades of experience in the financial services sector, having led business and technology teams at major banks and technology firms. Intix will leverage his expertise to help clients navigate global regulatory change and provide innovative solutions for its customers.
One Inc, the digital payments network for the insurance industry, appoints Michael Ellis as the company’s new chief financial officer. As CFO, Ellis is responsible for overseeing the company’s financial activities and will help guide One Inc’s future direction. Ellis previously served as CFO at Flywire, a global payment solutions provider, as well as CFO and advisor to BillGO, a bill pay platform and network.
Montonio, the European payment and ecommerce solutions provider, appoints Johan Nord as its new CEO.
Nord, first hired in March 2024 as Montonio’s chief revenue officer, joined from global open banking firm Trustly. Markus Lember, the previous CEO and co-founder, will stay with the company, transitioning to a new role as chief strategy officer.
Additional appointments
AccessPay, the bank integration provider, announces two senior director appointments, AccessPay veteran Graham Morgan takes on the new role of product director, and Jim Conning joins as director of banking and alliances, both reporting directly to CEO Anish Kapoor. Conning previously worked at Eiger Systems (now Experian Payments) as well as Bottomline Technologies.
Embroker, the digital insurance company for businesses, has welcomed Andrew (Andy) Lea as chief insurance officer and promoted Kristy Malm to chief operating officer. Lea most recently served as chief underwriting officer at Vantage Risk. Malm was previously VP of operations at Embroke.
Partnerships
Global information and insights company TransUnion has forged a partnership with the Vulnerability Registration Service (VRS), a not-for-profit organisation dedicated to supporting vulnerable consumers. This partnership gives TransUnion clients access to an independent register of vulnerable individuals, empowering them to identify vulnerabilities and make informed decisions.
Helcim, a payments company focused on small businesses, has launched Helcim Automated Invoice Payments for QuickBooks Online. This new integration offers real-time invoice syncing and smooth payment acceptance, simplifying accounts receivables for small business owners, accountants and bookkeepers.
Payhawk, the global spend management solution, has expanded its partnership with Marqeta, the global modern card issuing platform, to tackle fraud and the misuse of company funds using Advanced Card Controls. The new capability is available across all 32 countries served by Payhawk where it operates its premium Visa debit and credit cards.
Thredd, a global payments processor, launches LianLian Global’s virtual card programme in the APAC market. Lianlian Global is a cross-border payments company based in China, specialising in delivering cross-border funds settlement services with instant payouts and frictionless customer experience. Thredd is currently processing over 200,000 LianLian Global Visa transactions/month in Hong Kong.
Reward has expanded its partnership with NatWest to power its new Travel Reward Credit Card. This follows a longstanding partnership between the two brands, with Reward powering NatWest’s rewards programme MyRewards. The partnership enables Travel Reward Credit Card holders access to a suite of personalised retailer offers through their MyRewards.
More partnerships
US based Ibanera partners with RAK Digital Assets Oasis (RAK DAO) to expand its network into the Middle East, leveraging RAK DAO’s ecosystem for strategic growth in digital banking and Web3 innovation. As the latest RAK DAO licensed ecosystem partner, Ibanera will leverage a network of Web3 companies, funding opportunities, blockchain resources, and more to expand its footprint in the Middle East.
Tribe, the digital payments and infrastructure orchestrator which specialises in issuer and acquirer processing, has been selected by embedded financial services platform Orenda to provide its issuer processing services. In addition to issuer processing, Orenda will benefit from Tribe’s proprietary Risk Monitor platform, which allows for real-time assessment of banking transactions.
finova Broker, formerly the eKeeper Group and part of finova, the UK’s largest cloud-based mortgage and savings provider, has successfully integrated with Cashflows, the platform that makes it easier to accept payments digitally. This new feature lets mortgage brokers take payments for administration and processing fees directly within the finova Broker CRM or passed directly to the customer via an email link.
Carbon footprint management company Cogo and SaaScada, a provider of data driven core banking solutions, have joined forces to drive further progress in helping the banking and finance industry take steps to reduce their carbon impact. Through the partnership, banks can leverage the real-time data delivered by SaaScada to build insights using Cogo.
Thunes, a global money movement company, has enabled hundreds of merchants in Paris to accept cross-border payments from 15 international e-wallets and mobile partners via Alipay+. This collaboration leverages the Thunes Global Network, enhancing convenience for Asian tourists in France. The collaboration between Thunes and Alipay+ first began in 2022, when Thunes enabled Alipay+ for merchants in Europe.
Company milestones
Yooz, a purchase-to-pay (P2P) automation provider, is celebrating its 10th year in the US market. Founded in France, Yooz entered the market in 2014. Yooz has expanded its US team to over 100 employees, building a strong presence in the AP automation space. Collaborations with companies such as CDK Global and Sage Intacct have helped Yooz enjoy growth and exposure across various industries.
Binance, the global blockchain ecosystem, has reached one million subscribers on its official YouTube channel becoming the first crypto brand to reach this milestone. The success of its educational content, including explainer videos and product tutorials, and its partnership with Cristiano Ronaldo are attributed to the fast growth of the YouTube channel.
Funding and investments
Blockscout, an open-source block explorer for all EVM-based chains, has closed a $3million seed round led by 1kx. The round included investors such as Primitive Ventures and Gnosis, and angels including Evan Van Ness, Alex Svanevik, Kartik Talwar, Anton Bukov and Stefan George. Blockscout plans to use the funding to further build out the product suite and improve user experience.
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