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Fiserv and Central Payments Deliver Modern Issuing Capabilities to Fintechs and Financial Institutions

Fiserv, Inc., a leading global provider of payment and financial services technology solutions, and Central Payments L.L.C., a banking as a service (BaaS) provider, enabling fintechs, businesses Businesses and payment facilitators bring financial products and services to market with greater speed and growth potential.

The combination of the Fiserv technology stack, including real-time core, card processing and issuance, with Central Payments’ award-winning Open*CP Fintech API Marketplace®, including program management and compliance, enabling fintech and almost any other business to create valuable products and services that more comprehensively meet the growing expectations of consumers and small businesses. For those with an established card program, this provides more comprehensive and regulated access to basic banking and payment services.

As fintech services grow stronger, so does the need for consumers to access their money through digital experiences outside of traditional banking channels. In many cases, this means allowing unlicensed fintechs and other businesses to provide financial services, such as debit cards, secured credit, stored value cards. , unsecured credit, etc. Fiserv and Central Payments bring together a BaaS platform, products and services, and access to a network of funding banks to support a wide range of innovative retail and business use cases.

“As fintech and financial institutions work together to create compelling financial offerings, speed to market, a robust and flexible tech stack and streamlined operations are essential,”
“Together, Fiserv and Central Payments can deliver these requirements without compromising compliance and risk controls needed to safeguard all parties.”
Sunil Sachdev, head of Fintech and Growth at Fiserv.

Fiserv and Central Payments provide everything a fintech or other business needs to connect with a funding bank, launch and manage unique payment products and services. Customers of Fiserv financial institutions pursuing fintech partnerships can also engage with Fiserv and Central Payments for assistance in administering the go-to-market program.

“This combination of technology, services, program management and bank partners will help any business become a fintech without the need to add the staff or expertise to manage the program in-house,”
“Those that may want to manage their program in-house eventually can also use our services as a lower risk model to get to market quickly with a proof-of-concept.”
Eric Cotton, Executive Vice President and General Manager at Central Payments.
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Apex Group acquires Efficient Group companies in South Africa

Apex Group Ltd., a global financial services provider, today announced its proposal to acquire Efficient Group (Pty) Ltd.

Efficient is the parent company of Boutique Collective Investments (RF) (Pty) Ltd (“BCI”) and Boutique Investment Partners (Pty) Ltd (“BIP”) and upon completion of the acquisition, Efficient Group (Pty) Ltd will rename the Apex Corporation banner. The acquisition will not affect Efficient Wealth, Risk and Investment clients.

Founded in 2013, BCI offers a wide range of management company services with its core business focusing on third-party branded portfolios (“ManCo services”).

BIP is an independent investment management and consulting firm dedicated to providing versatile management and advisory services to a large number of South Africa’s leading independent financial advisors, as well as clients. organization and their retail. This strategic acquisition adds an additional $19 billion AuA to the Apex Group platform.

Apex Group is one of the largest asset management service providers in the world, providing a one-stop, single-source solution of the complete value chain to its customers, including bank accounts. and digital accounts, custody services, custody, super ManCo, service businesses (including HR and payroll services), and pioneering environmental and social assessment and consulting solutions and governance (“ESG”). Effective clients will now benefit from access to the Group’s local hedge fund solutions, offshore fund solutions, Fintech, data solutions and technology services, in addition to an open team covering more than 12,000 people worldwide.

44 productive employees will join the Group’s growing African footprint following the recent Sanne and Maitland acquisitions, further reinforcing the Group’s commitment to the region and its intention to open up. expanding its local operations to about 1,000 people this year.

“The strategic addition of the unit trust management company adds greater product depth and expanded reach, particularly for our ManCo services offering, and further reinforces our commitment to South Africa, a key hub for our global business. We look forward to welcoming our new colleagues from Efficient who are aligned with our commitment to delivering an exceptional client experience with local service delivery.”
Peter Hughes, Founder and Chief Executive Officer of the Apex Group.
“Efficient has always followed a very successful growth strategy in the Wealth, Risk, and Investments segment of the financial services market, ensuring that the company has expanded into a leader in the financial services industry. This transaction allows the company to continue expanding the business by focusing on partners that align with the overall expansion of the retail client base strategy and value proposition.”
Heiko Weidhase, Chief Executive Officer of the Efficient Group.

The acquisition is still subject to the approval of the Competition Commission.

Macquarie Capital acted as financial advisor to Apex and Efficient’s management team, advised by Cliffe Dekker Hofmeyr Inc and facilitated the acquisition on behalf of Efficient’s shareholders.

Efficient’s Wealth, Risk and Investment cluster will retain the Efficient brand and maintain the status quo under the control of existing shareholders throughout the transaction. This cluster includes the following business segments; Effective enrichment, effective insurance consulting services; Effective individual clients; Effective benefit consulting; Effective management board; Efficient selection; Naviga Solutions; Select Manager and Dinamika Fund Manager.

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PWC UK Picks Ai Quality Leader TruEra To Collaborate On Ai Risk Management

TruEra, a leading provider of AI quality management solutions for testing, interpreting, debugging, and monitoring machine learning (ML) models, today announced that it has been selected by PwC to integrate AI risk management in the UK and Ireland.

Key elements of the collaboration include:
• Using TruEra’s software to validate AI/ML models (e.g., analyzing robustness and performance, explainability, and bias and fairness) as part of PWC’s AI risk methodologies
• Enabling PwC’s clients to adapt the PwC AI Risk methodologies through hands-on, iterative experimentation
• Providing PwC’s clients the option to operationalize their AI risk methodologies using TruEra’s software

“As companies make the transition from AI exploration to adoption at scale, managing the risks associated with this transition becomes increasingly important. PwC is ideally suited to support clients in this journey, with the breadth of perspectives brought by our diverse teams, skills and market-leading experience in AI risk management,”
“We believe that this collaboration with TruEra will result in the right combination of human expertise and tech to allow our clients to embed AI risk considerations as an integral part of their model lifecycle.”
Leigh Bates, Partner, Financial Services Technology and Data and Analytics Leader at PwC UK.
“Model quality and governance are vexing issues for any company leveraging AI,”
“Automated testing and monitoring are essential for ensuring that models are high performing and functioning as intended, and that bias is minimised and adequately managed, even when market conditions change. We’re incredibly excited to be collaborating with PwC to help clients navigate the AI quality challenge.”
Shameek Kundu, Chief Strategy Officer of TruEra.

PwC UK provides professional services including auditing, tax and legal advice, trading and risk advisory and consulting in the UK, the Middle East and the Channel Islands. PwC AI experts assist clients in the areas of natural language processing, machine learning, deep learning, data engineering, automated ML, digital twin, representational AI, responsible AI, etc. PwC helps clients align their AI strategies with their business strategies, build enterprise-wide AI capabilities, and establish appropriate governance for security and risk reduction.

TruEra has been selected as the preferred supplier by several Fortune 1000 companies. In March 2022, the company was named to Fast Company’s World Change Ideas list for the second year in a row. In June 2021, TruEra was analyzed by Gartner, Inc. honored as a “Great Vendor” in the “Excellent Provider in Responsible AI and AI Governance” report. Members of the firm have also served on the AI ​​risk advisory board for the Bank of England and the Monetary Authority of Singapore, among other government agencies.

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HSBC buys Silicon Valley Bank UK

The collapse of the US bank Silicon Valley Bank (SVB) HSBC has bought its UK subsidiary, SVB UK, for £1. Customers and businesses who have deposited funds into SVB UK will have normal access. Taxes were irrelevant.

“Continue to bank as usual, safe in the knowledge that their deposits are backed by the strength, safety and security of HSBC”.
HSBC CEO Noel Quinn,

Besides HSBC, potential buyers of SVB UK included JP Morgan, Lloyd’s, digital financier Oaknorth Bank, two-year-old Bank of London and ADQ, a fund backed by the Abu Dhabi government.

The US government ensures that SVB US customers have access to cash on Monday morning.

Apparently, SVB’s U.S. parent invested $80 billion of customer cash in mortgage-backed securities, which averaged 1.56% yield, but fell in value when the Fed hiked interest rates, making government bonds more attractive. has become an investment target.

Customers are said to have started withdrawing funds and closing SVB accounts in December last year, and from April 2022 to January 2023, SVB, which had no chief risk officer, was forced to sell securities at a loss to meet its obligations. When the bank realized it had to sell the securities, the value of the securities fell below its obligation and the bank was technically insolvent.

Things took a turn for the better when the VC instructed the portfolio company to switch bank accounts from his SVB to a larger bank.

“This morning, the Government and the Bank of England facilitated a private sale of Silicon Valley Bank UK to HSBC Deposits will be protected, with no taxpayer support I said yesterday that we would look after our tech sector, and we have worked urgently to deliver that promise,”
“There is a serious risk to our technology and life sciences sectors,”
“happens to look after the money of some of our most promising and exciting businesses and so I want to reassure people.”
‘We are working at pace on a solution. We will bring forward very soon plans to make sure people are able to meet their cashflow requirements, pay their staff,”
“but obviously what we want to do is to find a longer-term solution that minimises or even avoids completely losses to some of our most promising companies.”
UK chancellor Jeremy Hunt.
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Partnership Between Carrefour Italia And Nexi: Postal Payment Slips And Pagopa Notices Payable At The Checkout

Carrefour Italia and Nexi have announced a partnership to enable citizens to pay postal payment slips and PagoPA notifications at the cashiers of over 190 stores in Italy, including Carrefour Hypermarkets and Carrefour Supermarkets. Developed in collaboration with Poste Italiane, the service allows payment in any way.

The solution, based on the Nexi technology platform, is the only one of its kind in Italy and ensures that Carrefour can manage the interface of the POS system with the PagoPA node and his Poste Italiane system with his single integration. increase. This allows you to collect postal transfer slips and PagoPA messages at the same time.

Available 24 hours a day during store hours, the service enables barcode scanning of payment slips and QR code scanning of PagoPA messages, allowing bills, utility bills, taxes, fines, school benefits, and other payments to government agencies. It enables payments to be paid and guarantees simple and reliable payments. A secure payment experience.

“Our customers are always the focus of our strategy, and thanks to the partnership with Nexi, we will be able to meet their needs further, improving their shopping experience in our stores,”
“In fact, in addition to postal payment slips, it will be possible to make payments to Public Administration bodies at the checkout, in a simple, fast and secure manner.”
Alessandra Grendele, Director of E-Commerce, Marketing, Data and Digital Transformation at Carrefour Italia.
“This agreement with Carrefour Italia allows us to continue to support the modernization of the country, contributing to the further spread of digital payments, specifically towards Public Administration,”
“This partnership also allows us to take another step in the digitalization of points of sale, while guaranteeing large-scale retail trade the opportunity to expand the range of services they offer their customers without increasing complexity at the checkout. We are the only player in Italy, in fact, that offers the integrated management of both postal payment slips and PagoPA payment notices.”
Andrea Pennacchia,  Head of Banking & PA Solutions at Nexi.
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Weavr acquires Comma to combine embedded and open banking

Weavr, the London-based startup that allows businesses to integrate banking and payments into their mobile apps or SaaS platforms, has acquired open banking B2B platform, Comma Payments.

With Comma, Weavr claims to have become the first integrated finance provider to combine Banking as a Service (BaaS) and Open Banking in one integrated payments solution for B2B applications, from payroll, accounts payable and other major forms of payment.

“Open Banking and BaaS represent the two most innovative trends in finance right now, and it’s exciting to finally bring them together into one powerful solution. As a company committed to breaking new ground in this field, we’re delighted to be the first to offer a solution of this kind and feel confident that our customers will immediately benefit from greater functionality and a more seamless onboarding process.”
Alex Mifsud, co-founder and CEO of Weavr.

He says the combination will allow customers to seamlessly transfer payments through their own existing bank accounts to do so through Weavr-powered accounts, providing Richer payment options and controls.

The deal follows Weavr’s $40 million Series A deal last February. Since then, the company has tripled its user base and seen a 340% increase in the number of transactions through its platform.

The largely equity-based acquisition will allow Weavr to retain much of Comma’s current workforce, including the company’s CEO and founder, Tom Beckenham, and chief technical officer Gianluca pengo.

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Investcloud Launches White Fmb+

InvestCloud, the global leader in digital transformation for the financial industry with over $6 trillion in assets, today announced the release of the next evolution of InvestCloud White, called InvestCloud White FMB+. The new product offering includes integrated front, middle and back-end InvestCloud solutions, as well as simple multi-channel asset management services to provide comprehensive tools for advisors and investors. other property management.

The InvestCloud Front-to-Back solution marks InvestCloud’s continued investment in supporting greater operational efficiency and simplifying business-as-usual complexity for wealth management clients. FMB+ includes InvestCloud’s best applications for customer communication, planning, trading and accounting, and business process outsourcing (BPO). InvestCloud’s BPO Center is located in Carlsbad, CA and is currently being used by clients such as William Blair in their SYSTM provisioning.

“There is a massive opportunity to provide huge gains in efficiency to wealth management clients due to the failures of existing players in this market. Many have made claims of offering an integrated platform, but in reality, they lack having a single platform. Their solutions are dispersed across numerous platforms, and each client implementation is a different version, meaning many branches of different code – which is the height of inefficiency. This is why implementations of these platforms often last 3-4 years, with a high failure rate.”
Mark Trousdale, Chief Marketing Officer of InvestCloud.
“We are excited to bring this important offering to market. Most players are still dealing with legacy hard-coding issues that plague this industry. What that means for clients is a cobbled-together version of their code, making it impossible to maintain.” Shamberg continued: “We are proud that White FMB+ totally disrupts these norms and showcases what the power of true digital can offer. Our single end-to-end platform handles the technology and servicing needs, with a cloud-native, no-code approach, enabling personalization and efficiency at scale.”
Yaela Shamberg, Co-Founder & Chief Product Officer, Digital Wealth, of InvestCloud.
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Funding Circle and Sage partner to streamline SME finance

UK-based lending platform Funding Circle has partnered with Sage, the accounting, finance, HR and payroll technology company for small and medium-sized businesses (SMEs). This partnership aims to simplify secure financing for small businesses.

With the integration of Sage Accounting and Funding Circle API, businesses will now be able to apply for loans and manage their cash easily.

Initially launched in the UK, SMEs using Sage Accounting software can apply for business loans of between £10,000 and £500,000, with the option to repay the loan between 6 months to 6 years. They will also have access to Funding Circle’s new product, FlexiPay, which is an interest-free line of credit that helps small businesses manage their cash flow. With more than 130,000 businesses reaching over £14.5 billion through the Funding Circle and one million Sage customers, this partnership aims to revolutionize access to finance for small and medium businesses. small. Additionally, the two companies plan to expand their partnership internationally, including in the United States, where Funding Circle has a growing presence as a loan provider.

“We are proud to team up with Sage and launch another partnership via our API, increasing access to funding for more small businesses in the UK. We are really looking forward to building our relationship with Sage and its customers, with the potential to expand into the US in the future too.”
Alexander Allen, UK Managing Director at Funding Circle.
“Our partnership with Funding Circle is exciting as it simplifies access to loans and funding for SMBs so they can focus on running their businesses. Managing cash flow can be a source of anxiety for customers and this partnership will relieve that stress by reducing waiting time on loan decisions and giving SMB owners peace of mind.”
Neal Watkins, Executive Vice President of Product at Sage.
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Allfunds Tech Solutions Announces New Partnership With Unicredit

Allfunds Tech Solutions, the bespoke digital solutions arm of Allfunds specializing in harnessing the power of digital transformation for clients across the financial services industry, today announces a new partnership with UniCredit, the pan-European commercial bank.

The partnership will leverage Allfunds Tech Solutions digital capabilities to facilitate UniCredit’s transformation program to further streamline its systems that support market and content data providers to the creation of a multi-asset platform to service UniCredit’s client base.

Allfunds Tech Solutions will provide an omnichannel solution, by implementing a robust and flexible multi-layer foundation that begins in a bespoke middleware and achieves customized client portals, which to begin will service a minimum of 21,000 professional and 500,000 non-professional clients across Italy, Germany, and Austria.

The digital investment platform will offer a consistent data universe with extensive and flexible adaptability, enabling UniCredit to optimize costs in technology and resources, market data, and exchange fees. It is the first step, in a multi-phase project that will eventually roll out on 13 platforms across Europe marking a transformation into a truly global wealth data platform.

Allfunds Tech Solutions offers advanced technology in a cloud-based SaaS model with built-in disaster recovery and 24/7 support. For future requirements, Allfunds Tech Solutions improves efficiency and speeds time to market by adding new countries, channels, segments and business needs.

“Data and supporting infrastructure are more important than ever, as firms continue to enhance efficiency and optimize costs. We launched Allfunds Tech Solutions in 2022 as part of our Digital business, to provide solutions for the increasingly complex needs of the investments industry. We are proud to offer advanced technologies to help UniCredit further streamline its systems and create a global digital platform to better serve its clients.”
Juan de Palacios, Chief Strategy & Product Officer, Allfunds.
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Finaro, Mastercard, Northmill, And Nmi Partner To Pioneer First Cloud Commerce Deployment In Europe

Finaro, the global cross-border payment provider and the fully licensed bank has today announced its European Cloud Commerce deployment with payments technology company Mastercard, Nordic neo bank and POS provider, Northmill, and leading full commerce enablement technology company, NMI. Following Mastercard’s launch in the U.S. in 2021, this partnership will bring Mastercard’s cloud-native software-based acceptance solution, Cloud Commerce, to small and medium-sized merchants across three Nordic markets – Sweden, Norway, and Finland – ahead of a planned commercial roll-out in other countries across Europe.

Cloud Commerce represents the next evolution in contactless payments combining Tap on Phone, Pay by Link, and Click to Pay technology to make it easier for businesses to accept payments by accelerating acceptance rates and lowering entry barriers. Merchants of any size can accept contactless payments from any contactless-enabled form of payment – phone, card or wearables – vastly reducing POS terminal maintenance costs and dependence on inflexible physical infrastructure.

Finaro will provide payment processing and acquiring services to enable Mastercard’s Cloud Commerce solution for merchants who want to accept Tap on Phone payments on their eligible NFC-enabled devices. Northmill merchants use NFC-enabled Android smartphones as secure POS devices that accept contactless electronic payments. Northmill already has over 2,500 of his merchants and 600,000 of his mobile POS (mPOS) end users across the Nordic region. Additionally, NMI, which worked with Mastercard on its first Cloud Tap on Phone pilot and processed over $203 billion in payments, will serve as a major integration partner and distributor.

“Finaro is delighted to join this deployment with Mastercard, NMI and Northmill, bringing the cutting-edge capabilities of Tap on Phone payments to Nordic merchants. With these next-generation acceptance capabilities, merchants can literally accept contactless transactions whenever and wherever, they wish. And this deployment signifies another important milestone for Finaro’s footprint in the Nordics, which we consider a strategic territory in our global business.”
Achiya Fried, Chief Commercial and Strategy Office for Finaro.
“The partnership between these companies represents a golden opportunity for merchants across the Nordics to bring the convenience of contactless payments to even more businesses. With the Nordic region being one of the most advanced eCommerce markets in Europe, merchants there are familiar with mobile commerce and mPOS terminals, but this new offer takes Nordic payments to the next level.”
According to Ruben Frimand Nielsen, Vice President of Sales & Business Development for the Nordics at Finaro.
“The Cloud powers our work to make every device a way to pay and be paid. It gives our customers more flexibility, plugging into services more quickly and with less hardware. We are pleased to be working with Finaro, NMI and Northmill on this launch to bring secure cloud Tap on Phone payments to the European region.”
Davide Messina, Senior Vice President Merchant Solutions Europe at Mastercard.
“We are thrilled to be partnering with Finaro, Mastercard, and NMI to bring the benefits of Cloud Commerce to small and medium-sized merchants across the Nordics. This is a game-changer for businesses that want to provide a seamless, secure, and convenient payment experience that meets the needs of their customers and will make it easier for merchants to accept contactless payments and enable them to focus on what they do best – serving their customers.”
Tord Topsholm, CEO at Northmill.
“The launch of Cloud Tap on Phone pilot saw great success in the U.S., so we’re thrilled to expand this partnership into the Nordic market. Consumers today prioritize convenience, speed, and ease of use in their payment experiences, and this technology will help merchants provide the best contactless payments experience possible by utilizing smartphones instead of investing in additional hardware to process payments more quickly than ever before.”
Peter Galvin, Chief Product Officer at NMI.
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Array Partners with FICO to Address Growing Demand for Embedded Finance Products

Fintech Meetup–Array, a leading financial innovation platform, announced a multi-year agreement with a leading FICO analytics software company that will make FICO scores and credit data available to millions of consumers. this platform – the product form of Array.

A consumer’s FICO score and the factors behind it are vital information consumers need to plan for their financial future. FICO scores are used to help consumers access the credit they need for home loans, car loans, credit cards, and more. By providing access to their FICO® score, financial institutions, fintech and digital brands can help consumers better understand and manage their financial health, and build a strong relationship with them. Customer retention is increasingly important as the growing financial services market undergoes unprecedented fragmentation with the emergence of new competitors.

“There are tens of thousands of banks, credit unions, fintechs and other brands that are interested in embedding financial services products in their digital experiences, but lack the resources to develop them,”
“Array has earned the trust of these companies by offering credit report data and tools that fit seamlessly within their websites and mobile apps. Now these clients can offer their customers access to their FICO Score and to FICO® Score tools and educational content in that same environment.”
Geoff Smith, vice president and general manager, Consumer Scores at FICO.

A new study from Juniper Research has revealed that integrated financial services revenue will exceed $183 billion worldwide by 2027; just under $65 billion by 2022. The deal will allow Array to provide a FICO score based on data from one of the major credit bureaus in the United States as part of its own credit, rights management tool corporate private label financing and financing. FICO scores are used by 90% of major US lenders. Array’s embeddable products can be used by financial institutions, fintech and other brands within their own platforms to provide customers with access to important credit reports and information. FICO scores in a simple, easy-to-understand format road.

“FICO is one of the top brands in financial services, and the number one credit score when it comes to consumer awareness,”
“Our partnership with FICO delivers on our promise to provide valuable data with the experience that people want, and it provides banks, credit unions and fintechs with an embeddable solution to enable them to offer FICO® Scores to meet the growing demand for credit score data.”
Martin Toha, Founder and CEO of Array.
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Stripe and OpenAI collaborate to monetize OpenAI’s flagship products and enhance Stripe with GPT-4

Stripe, a financial infrastructure platform for businesses, today announced that OpenAI has chosen Stripe to power payments as it prepares to commercialize innovative AI technologies. it’s ChatGPT and DALL E revolution. Stripe is also integrating OpenAI’s new natural language technology, GPT-4, into its products and services.

“We’re excited to work with Stripe to monetize our flagship products,”
“Beyond payments, Stripe is helping us with everything from recurring billing and tax compliance to automating our financial operations.”
Peter Welinder, vice president of product and partnerships at OpenAI.

Powering OpenAI with Stripe

OpenAI is working with Stripe to commercialize its generative AI technology. Using Stripe’s suite of products, OpenAI was able to launch a global payments system for multiple product lines in a matter of weeks. Highlights of the collaboration include:

  • Stripe Billing and Stripe Checkout are powering ChatGPT Plus, OpenAI’s premium subscription offering of ChatGPT. Using Checkout’s prebuilt hosted payments page, OpenAI offers one-time purchases and monthly or usage-based subscriptions and reaches global customers with more than 25 payment methods.
  • Stripe Billing offers DALL·E users a flexible, pay-as-you-go option to purchase DALL·E credits, which enable customers to generate new images.
  • Link, an evolution of Stripe’s Remember Me product, lets OpenAI users pay 40% faster on average by auto-filling saved payment details. OpenAI is now part of the Link network, which allows tens of millions of users to check out faster with networked payment details saved across hundreds of thousands of businesses.
  • Stripe Tax supports OpenAI to meet its tax compliance obligations as it expands into global markets.
  • Revenue Recognition helps OpenAI stay on top of its finances—including managing disputes and refunds at scale—so it can accurately close its books each month.

Seventy-five percent of the leading generative AI companies have signed up with Stripe to go to market quickly, scale with compliance in mind, and bring their products to many more users worldwide. They include OpenAI, Runway, Diagram, and Moonbeam.

“As these new AI companies proliferate, we’re helping them with smart monetization strategies that get their products into more hands. Personally, I’m excited to easily buy more DALL·E credits and continue my forays into AI-assisted painting,”
David Singleton, chief technology officer at Stripe.

Enhancing Stripe with GPT-4

Stripe has a long history of using artificial intelligence to improve products and user experience, including helping users manage fraud and increase conversion rates. Last year, Stripe worked with Microsoft’s Azure OpenAI team to implement GPT-3 for Stripe Support, helping support agents define a faster resolution path for the many users they interact with each week.

After participating in the GPT-4 beta in January, Stripe identified multiple ways to use the technology to streamline operations and help users get the information they need faster. One of the first results of this effort was Stripe Docs powered by GPT.

This enhancement to Stripe’s high-quality documentation will allow developers to perform natural language queries in Stripe Docs in GPT-4, which will respond by summarizing relevant sections. relevance of documents or extract specific information. This allows developers to spend less time reading and more time building.

“Like the introduction of email, smartphones, or videoconferencing, GPT-4 has the potential to fundamentally rewire—and improve—how businesses run,”
“By integrating GPT-4, Stripe is giving our users the most advanced tools to help them build and grow online.”
Eugene Mann, product lead for applied machine learning at Stripe.
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Flutterwave Secures Two Additional Licenses In Rwanda: Electronic Money Issuer & Remittance Licenses

Flutterwave, Africa’s leading payment technology company, today announced that it has acquired an e-money issuer and remittance license from the National Bank of Rwanda. This will allow the company to expand its operations in East Africa.

With these new licenses, Flutterwave will be able to provide its 13.46 million people living and working in Rwanda with payment services as its provider, as well as money deposits and withdrawals, electronic transfers and payment processing. It will be available as a trader. money transfer service.

According to the Rwanda National Institute of Statistics, Rwanda’s micro, small, and medium enterprises makeup about 97% of businesses and about 55% of the total GDP. This allows MSMEs to play an important role in job creation and the country’s economic growth. Flutterwave will deploy a range of products in Rwanda, including its cross-border money transfer solution, Send by Flutterwave.

It also utilizes Flutterwave for Business and a suite of products including shops, payment links, invoices and checkout to enable Rwandan individuals and businesses to take full advantage of the booming e-commerce market.

“From our first transaction to over 400 million now, we’ve remained committed to our vision of connecting all parts of Africa through payments and connecting Africa to the world. As a country well known for fostering innovation and promoting the use of digital technology, Rwanda has always been important to our expansion plans in East Africa. We are delighted for the vote of confidence in being granted these licenses. With them, we will leverage our extensive global reach and continuous growth in emerging markets to provide MSMEs in Rwanda with the tools they need to stimulate the economy, facilitate seamless cross-border transactions for Rwandans and support the expansion drive of global and Rwandan businesses.”
Olugbenga “GB’ Agboola, Founder and CEO of Flutterwave.
“This is a great achievement for the company. As Rwanda continues executing important reforms to enhance the ease of doing business and implementing its Fintech Strategy 2022-2027, Flutterwave keeps contributing towards achieving a cashless economy by innovating and employing digital technology to support businesses and stimulate the economic growth of countries where we operate. The licenses will enable us to provide safe, secure and seamless payment services for individuals and businesses in Rwanda. This is definitely a starting point for Flutterwave as we continue to expand across East Africa.”
Leah Uwiroheye, Flutterwave’s East Africa Regional Lead, Regulatory and Government Affairs.
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Clara Secures Debt Financing For Up To $90m From Accial Capital To Strengthen Its Presence In Colombia

Clara, the leading digital end-to-end enterprise spending management platform in Latin America, announced the approval of up to $90 million in funding from Accial Capital, a debt provider based in the United States. The US focuses on emerging markets and its fund launches in the US. partnered with Skandia FCP IMPACTO, an impact-focused debt fund powered by Skandia, managed by Accial. Clara obtained this line of credit before completing her first year of operations in Colombia and approaching the company’s third anniversary.

“This funding will allow us to keep consolidating our products so that they can continue to respond to the financial and technological needs of companies in Colombia and Latin America. Additionally, our new offices in Medellin will be key to attracting the best local talent and building up our team. Our main goal is to meet the real needs of Colombian companies and to keep establishing the country as a technological hub in the region”,
Leonardo Ramos, Regional Director of Clara in Colombia.

Clara Colombia has more than 1,300 customers, distributed mainly in the fields of technology and financial services, e-commerce, retail and tourism. It started operations with an office in Bogota and recently announced the opening of an office in Medellin to strengthen its presence in the Antioquia market and be part of the technology ecosystem that shapes the city.

“At Accial, we are excited to contribute to Clara’s growth. Their market-leading solution has set the foundations to help more companies in Latin America manage their spending in a simple, quick and transparent way, and reliably access short-term credit”
Jared Miller, CEO of Accial Capital.
“For Skandia it’s a great pleasure to witness the first outcomes from IMPACTO, an investment vehicle based on ESG metrics, that we developed in alliance with Accial Capital with the aim to generate well-being and promote financial inclusion. All of this while supporting the fintech ecosystem companies growth, as Clara, whose business model positively and directly IMPACTS SMEs in Latin America”,
Santiago Garcia, Skandia Colombia CEO.
This is the second occasion in less than a year that Clara has secured a debt facility. In August 2022, Goldman Sachs approved financing for up to 150 million dollars that allowed them to strengthen their operations mainly in Mexico and continue consolidating as one of the fastest-growing and most popular expense management platforms in Latin America. “This new line of credit is a vote of confidence in Clara’s business model from international investment funds and recognizes our impact and progress in empowering Colombian businesses”,
Gerry Giacomán Colyer, CEO and Co-founder of Clara.
“This deal represents a major milestone for Clara, as it allows us to continue evolving into an asset-light company with a solid funding structure. It becomes a fundamental pillar to achieve our growth plans while offering best-in-class solutions for our customers.”
Clarissa Morrison, Clara Capital Markets Director.
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Mastercard extends partnership with Banque Misr in Egypt

Building on their successful strategic partnership, Banque Misr has signed a long-term partnership agreement with Mastercard to provide the bank with the latest in digital payment technology to deliver products, services and solutions. New innovative solutions for customers, all segments and for digital support. advanced solutions have a competitive advantage.

As part of this partnership, Mastercard will leverage its advanced payment technologies to provide Banque Misr with the tools and solutions it needs to execute its ambitious growth and transformation plans. of the bank. In addition to unlocking new business value, increasing operational efficiency, and creating meaningful customer experiences, Banque Misr will benefit from long-term release, adoption, advisory and consulting services, and short-term measurement.

Leveraging its customer service center for advisors, Mastercard will help redefine banking services and optimize customer engagement through premium advisory services that deliver value for money. tangible value, driving traction and loyalty and enhancing convenience, security, and control. The partnership aims to increase consumer transaction volumes and accelerate the transition to a cashless society.

“We are proud of the success that we have collaboratively achieved with Mastercard over the past few years. We are confident that this partnership will support our commitment to expanding our services and offer our customers a unique, seamless digital experience. Banque Misr is continuously working to enhance financial inclusion and taking the necessary actions to support this mission ultimately uplifting the Egyptian economy.”
“This partnership aims to support digital transformation and the financial technology pillars which focus on connecting unbanked segments of society to convenient financial solutions. In turn, we work on curating partnerships that enhance our financial and non-financial services tailored specifically to them and delivered through our wide branch network across Egypt.”
Mohamed El Etreby, Chairman, Banque Misr.
“We are thrilled to extend our longstanding partnership with Banque Misr that contributes to fast-tracking the growth of the digital payment landscape and paving the way for a sustainable digital economy in Egypt,”
“Carrying on our successful track record, the agreement reaffirms our ongoing shared commitment to developing the cashless ecosystem by introducing new products and capabilities that strengthen the bank’s value proposition and diversify its digital payment portfolio.”
Dimitrios Dosis, President, EEMEA, Mastercard.
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Digital Identity Regtech Socure Secures $95 Million Credit Facility With J.P. Morgan, Silicon Valley Bank And Keybanc Capital Markets

Socure, a leading provider of digital identity verification and fraud solutions, today announced a partnership with J.P. Morgan signed a $95 million line of credit over three years with Silicon Valley Bank and KeyBank Capital Markets.

This line of credit further strengthens the company’s financial position as it continues its mission of being the first and only solution provider to verify 100% of good identities in real-time and completely eliminate identity fraud on the Internet increase.

“Socure is in an exceptional position to solve what organizations and government agencies need most today — accurate and inclusive real-time identity verification without costly fraud and friction within the customer experience,”
“With this facility further strengthening our balance sheet, Socure is in a tremendous position to leave the recession much stronger than when we went into it while continuing to distance ourselves from the competition through investments in new solutions, verticals, and strategic acquisitions.”
“J.P. Morgan is an incredibly innovative bank,”
“I’m excited about this partnership as Socure continues to expand upon our product and market leadership.”
founder and CEO of Socure, Johnny Ayers.
“We’re proud to support Socure as it continues to expand its market-leading identity verification capabilities across banks, fintechs, governments and enterprises,”
“We look forward to continuing to share our industry expertise, treasury platform and global banking capabilities with progressive leaders like Socure who are driving forward the Innovation Economy.”
Lauren Hogan, Technology & Disruptive Commerce Relationship Executive, Middle Market Banking & Specialized Industries at J.P. Morgan.
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