[ad_1]
Delve into The Fintech Times Bi-Weekly News Roundup this Tuesday for the latest partnerships, investments, job moves and more.
Job moves
Cushon, the fintech pension and savings provider, has appointed Jo Bean as chief people officer. Bean joins Cushon’s leadership team with over 20 years’ experience in HR and having held senior HR positions at Samsung Electronics UK and more recently at Thomsons Online Benefits. Cushon has also recently completed its fourth acquisition in 12 months, doubling its employee number.
Open banking platform Tarabut Gateway is expanding its UK-based team, including the hire of industry veterans from OpenWrks and TrueLayer. Mitul Sudra, co-founder and former CTO at OpenWrks, has been appointed chief technology officer, while TrueLayer’s lead data scientist Alex Spansos joins as head of data.
Meanwhile, Ignition Advice, a global provider of advice technology, has named Will Drew as its new chief operations officer for Europe. Prior to joining Ignition, Drew was head of account management for Bravura Solutions. He oversees client services associated with Ignition’s software-as-a-service proposition.
Shawbrook appoints Arthur Leung in the newly created role of chief product officer. The bank also recently unveiled plans to create 100 new digital vacancies by the end of 2022. Shawbrook has launched a number of new digital products and services in recent months.
More job appointments
Coinme, a cryptocurrency cash exchange in the US, has named Brian Reisbeck as its new chief compliance officer. Reisbeck will help guide the organisation in maintaining regulatory compliance standards during the next stage of its growth and international expansion. Reisbeck previously served as the chief compliance officer at a major US-based crypto exchange.
WTW (Willis Towers Watson), a global advisory, broking and solutions firm, has hired Pardeep Bassi as global proposition leader in data science. Bassi will lead the advancement of the unit’s data science capability globally. Bassi most recently served as chief data science officer at LV= General Insurance.
TickSmith, a Montreal-based fintech firm, names Ian Gilbert as chief revenue officer. His appointment follows its first-ever Series A funding round of $20million last month. Most recently, Gilbert served as chief revenue officer at PureWeb, an enterprise platform.
Shamir Karkal (co-founder of Simple and Sila) has joined the advisory board of fintech SaveAway. He will also contribute as an investor. Premal Shah, co-founder of Kiva and Renewables.org, is also joining as a board member. The financial wellness platform enables people to ‘save now, pay later’.
Partnerships and collaborations
SquaredFinancial, the fintech brokerage, is now offering customers access to iQbyQi’s analytics. Under a partnership, SquaredFinancial’s retail traders will receive iQbyQi daily analytics and insights. SquaredFinancial is the first major brokerage to offer their retail traders iQbyQi’s AI-backed insights.
TSB partners with Farewill to empower customers to take control of their finances and protect their loved ones. TSB customers also have a five per cent discount on Farewill’s probate services. It is the first bank to partner with the UK will and probate provider.
IDEX Biometrics has partnered with IDEMIA to support the launch of the first biometric payment card in Sweden. Rocker, the Swedish challenger bank, is one of the first around the world to deploy biometric cards to consumers.
Meanwhile, open banking platform Tink has forged a partnership with Irish postal services provider An Post, to bring new money management services to its customers. The An Post Money Manager app utilises Tink’s open banking technology to help customers understand their spending behaviour, better manage their savings, and set budgets to stay on track with their financial goals.
Freelancer financial app Fairo has chosen Salt Edge to offer Romanian freelancers open banking connectivity. The open banking solutions provider will enable Fairo customers to keep track of their business banking transactions in the app and to automate the management of administrative tasks.
More collaborations
The Abu Dhabi Global Market Academy and Mashreq will co-operate in the development of a banking educational hub at the Abu Dhabi Global Market (ADGM). This agreement showcases the parties’ mutual interest in establishing a framework of cooperation and exchange of information related to the development of banking and financial education programmes to maintain an effective talent pool in the banking sector.
Finland-based AirPay Digital partners with Enfuce to deliver smart business cards saving nine minutes per purchase. By partnering with Enfuce, AirPay can cost-effectively process card payments and send product-level e-receipt and invoice data to customers.
Moorwand, a BIN sponsor, has partnered with payment provider Payme Swiss and financial concierge firm Bourgeois Bohème. Through access to Moorwand’s issuing services, Payme Swiss provides virtual and physical cards linked to wearable payments products to Bourgeois Bohème.
Barclaycard has announced a partnership with Avios to launch two new credit cards. It gives customers the opportunity to collect Avios when making purchases on their everyday spend, as well as providing a host of travel-related perks.
Mergers and acquisitions
Cheddar, the bank transfer platform, has snapped up Upside Saving. Upside has developed an open
banking-enabled, hyper-targeted, marketing platform which connects retail brands with consumers by offering personalised cashback.
Meanwhile, Pipe, the trading platform for recurring revenues, has acquired Purely Capital. Following the acquisition of the media and entertainment financing company, Pipe is launching a new Media & Entertainment division on its platform.
First Abu Dhabi Bank has signed an agreement for the sale of a 60 per cent stake in its payments business Magnati to Brookfield Business Partners. The transaction with Brookfield results in an implied valuation of Magnati of up to $1.15billion. FAB will retain a 40 per cent stake in Magnati post transaction and will also continue its partnership via a long-term relationship agreement.
TreviPay has announced its acquisition of BATON Financial Services.This acquisition is part of TreviPay’s ongoing, global expansion plan to make B2B payments faster and more flexible for its clients. The announcement follows TreviPay’s recent executive leadership expansion.
Finally, TripActions Group announces its third acquisition in nine months with addition of Sweden’s Resia AB, a travel management company in Scandinavia. The group now supports more than 8,800 businesses around the globe, with locations in more than 95 countries.
Funding and investments
FOXO Technologies Inc has entered into a definitive merger agreement with special purpose acquisition company Delwinds Insurance Acquisition Corp. As a result of the transaction, FOXO is expected to become publicly listed and plans to trade on the NYSE. Proceeds from the merger are also expected to accelerate the development of FOXO’s platform.
Niyo, the consumer neo-banking platform, has raised $100million in its Series C round. Led by Accel & Lightrock India with participation also from Beams Fintech Fund. The company will use the funds to accelerate its mission to transform banking in India, as well as to provide financial services to digital native customers.
SKALE-based blockchain internet provider 3air and K3 Telecom secure $10million investment to expand in Ethiopia. As the official partner of K3 Telecom, 3air is contributing to the expansion. The goal is to start the rollout in Addis Ababa and expand to additional cities shortly after.
Wallife, an Italian insurtech startup, has raised $4.8million in its first round of funding. Following the investment, Wallife is working to study and patent new ways to protect individuals and develop the insurance platform. A second round of investment is also planned for 2022 aimed at accompanying the launch and development of Wallife’s new products.
Meanwhile, Alaan, a UAE-based corporate spend-management fintech, has raised $2.5million in seed funding. The startup is the Middle East’s first multi-currency spend management platform enabling SMEs to spend through corporate cards and automated invoice payments. The platform is now ’emerging from stealth’.
Launches
PollenPay, the Manchester-based BNPL firm, has officially launched in the UK. The company’s mobile-based application is now available as a free download. PollenPay has more than 250 merchants on board, across a diverse collection of sectors.
Meanwhile, fintech OPay Egypt has opened its first store in Egypt. Clients can recharge their phone’s balance and make electronic payments for a number of services including paying mobile phone bills. They can also pay utility bills, tuition fees for schools, universities and a host of other services.
[ad_2]
Source link