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Globaleye Launches New Digital Platform To Revolutionize Wealth Management In Uae
Globaleye, an independent international wealth management consulting firm, today launched a new hybrid asset management solution that offers both hybrid and digital asset management advice. Globaleye 3.0 will fill the gap in the region for highly personalized and effective digital consulting.
This innovative technology changes the way affluent clients interact with their wealth and financial planning by creating a seamless customer journey. From digital referrals to goal setting and automated investing, the company’s technology provides end-to-end service with a unique, premium experience.
The offering of additional value through select ecosystem partners is enabled through Additiv’s coordinated asset management platform. Globaleye customers access Saxo Bank’s brokerage and custodial services, providing seamless digital access to global markets, as well as automated account opening using a relationship management system customer.
“Globaleye 3.0 enables advisors and their clients to realize the true value of digital personalized financial advice. It has never been more important to respond to clients and the market quickly and efficiently and being truly digital helps. Following feedback from a wide range of clients, we identified a huge gap in the UAE wealth market for an easily accessible, transparent, automated, and visually engaging range of advisory services and tools.“
“By partnering with additiv, to access their intuitive and engaging wealth solution, we can now meet this market need. However, the more complex the financial planning needs, the more our clients want advanced tools and personal interaction.”
Rupert Searle, CEO, at Globaleye
”Globaleye 3.0 is a first for an IFA firm within the UAE. First to offer a truly digital advisory solution to support and guide clients in the UAE according to their individual needs. And a first in the region to combine these solutions into a seamless, hybrid model, underpinned by a range of leading partners through an orchestrated finance model.”
Thomas Schornstein, General Manager MEA at additiv.
Truv Launches Direct Transfer Partnership with Totem Digital Bank
Truv has announced a partnership with Totem to enable automated direct deposit transfers through Truv’s authorized consumer data platform for all Totem customers. This partnership is one of many for Truv, where they are helping depository institutions take the direct deposit transfer process from days to seconds.
In 2023, depository institutions will see a decrease in deposits as the Federal Reserve reduces the money supply to combat inflation. Finally, in November 2022, for the first time since 2018, the deposit growth rate in the US market decreased. This reduction in deposits poses significant challenges for institutions that depend on deposits to monetize exchange revenue. and lend against their deposits. Included in their consumer-authorized data platform, Truv’s direct deposit transfer product enables depository institutions to counter these effects in the marketplace by making the transfer process easier.
Direct deposit becomes as seamless as possible. Truv has built direct API integrations with payroll providers to allow depository customers (e.g. neobanks, financial institutions, crypto exchanges, etc.) with a payroll account from their employer in the custodian digital experience for partial or full payment. change immediately.
As an institution, Truv has experienced significant growth in its direct deposit conversion product – only one in eight products is included in the consumer-authorized data platform. For Totem, they decided to partner with Truv because of the coverage of employers affiliated with payroll providers in their database and their dedication to the spirit of collaboration.
“From the moment I was introduced to the team at Truv, their passion was apparent. From a technical perspective, the number of employer mappings Truv has is significantly larger than that of its competitors. And while that was a part of why we chose Truv, it was their team’s dedication to hands-on, personal service that ultimately won us over,”
“We’re confident that we’ll be able to grow with Truv for years to come.”
Amber Buker, Founder and CEO at Totem.
“The recent partnership with Totem and other leading digital banks for direct deposit switching provides additional validation of Truv’s approach in building a consumer-permissioned data platform. Due to this approach, Totem will have access to future products through our platform based on relevant use cases as we continue to expand the data sources to that we have access. We’re excited to be on this journey with Totem and looking forward to continued growth together,”
Truv’s Co-Founder & CEO Kirill Klokov.
Lloyds invests £4m in driving payments app Caura
Lloyds Banking Group has invested £4m in Caura, a car app that consolidates all driving-related payments in one place.
Caura’s iOS and Android apps promise to simplify driving-related payments for the 30 million UK motorists, who often have to use up to 10 apps and websites to manage their vehicles. their.
Drivers receive relevant information and timely reminders to help them stay compliant and up-to-date on car insurance, MOT, vehicle taxes, tolls and city fees.
With support from Lloyds, the company wants to develop integrated financial services such as auto loans and insurance, as well as white-label payment options for auto partners and self-service SaaS technology. services for SME customers.
“This significant investment represents another important step forward in our plans to work closely with fintechs and technology partners to bring together data-driven insight and technologies to help our customers.”
Kirsty Rutter, fintech investment director, Lloyds
Apex Group to acquire Bank of America Irish depositary business
Apex Corporation, a global financial services provider, today announced its proposed acquisition of Bank of America Custodia Services (Ireland) Limited, the business of Bank of America’s depository in Ireland. Apex Group will acquire BACSIL through its subsidiary, the European Deposit Bank (“EDB”).
BACSIL is an inbound and outbound fund custodian solution serving a multitude of blue chip clients including UCITS, alternative investment funds and offshore custodial fund structures, across a wide range of strategies. Dublin-based BACSIL business provides custodial services for $71.4 billion worth of client assets. Apex Group’s existing custody services provided by EDB support a wide range of managed funds, underpinned by leading technology and workflow systems.
The addition of BACSIL strengthens the Apex Group’s offering of independent custodial services in Ireland, with the Group also providing custody solutions in Luxembourg, the United Kingdom, Malta, Sweden, Denmark and The Netherlands through its subsidiary, the European Depositary Bank (“EDB”) and its local specialist unit.
BACSIL’s highly qualified and experienced team will join the Apex Group in Dublin, ensuring exceptionally consistent service levels for current and future customers. As part of the Apex Group, BACSIL customers will benefit from the simplicity and efficiency of a unique relationship with a global service partner throughout their business value chain; including custody solutions, digital banking, fund management, super ManCo and ESG Rating & Consulting.
This is the latest in a series of strategic global acquisitions by Apex Group that aims to expand the geographical reach of custodial services in the European market with the addition of Darwin Custody in the Netherlands.
“The addition of BACSIL continues our strategic priority of strengthening the local delivery of our independent depositary services in Europe. BACSIL’s clients will continue to receive all the existing solutions they require and continuity of service, while also benefitting from access to our full range of global solutions. We look forward to welcoming BACSIL’s clients to the Group, with our single-source model removing the necessity for multiple service provider relationships, delivering efficiency and flexible solutions to all operational requirements of regulated funds.”
Peter Hughes, Founder and CEO of Apex Group.
Closing the transaction is subject to normal conditions, including regulatory approvals expected to be granted in 2023. Terms of the transaction were not disclosed.
Kirkland & Ellis LLP and Arthur Cox LLP act as legal advisors for Apex Group, and Macquarie Capital acts as financial advisors.
Momnt Partners with Paradigm to Launch Paradigm Finance
Momnt, a financial technology company that provides real-time lending and payment solutions to businesses as needed, announced a strategic partnership with Paradigm to launch Paradigm Finance, a platform Leading finance for home improvement contractors.
Through this partnership, Paradigm Finance users now have the ability to provision and manage all aspects of point-of-sale financing directly within the company’s Paradigm Vendo platform, a point-of-sale solution. digital merchandise for door-to-door sales professionals.
“The way consumers pay for their home improvement projects is evolving, and there is a growing demand for flexible, easy, and affordable payment options. Paradigm Finance, powered by Momnt, is specifically designed to provide contractors and homeowners with the most cost-effective and simple financing experience possible.”
Chris Bracken, CRO at Momnt.
“Paradigm Finance is a new kind of financial services platform that improves the lives of business owners. We understand the importance and value of innovation, and Paradigm Finance provides a next-level consumer lending experience to make the sales process seamless.”
Mike Storck, Product Director at Paradigm.
“As Momnt continues to expand our offerings and provide superior solutions, we’re thrilled to partner with Paradigm. Together, we have created an exceptional digital experience that allows businesses to scale tremendously while giving customers the payment methods they prefer.”
Mike O’Connell, VP of Partnerships at Momnt.
Anyfin Raises $30 Million In Series C
Anyfin, a Swedish startup that offers refinancing of consumer loans and credit card debt using a combination of artificial intelligence and snapshots of current statements and payment terms. debt pocketed $30 million in a Series C funding round led by existing investor Northzone.
Launched in November 2017, Anyfin founders Filip Polhem, Mikael Hussain and Sven Perkmann have extensive experience in consumer credit, credit risk assessment and technology, having previously held roles. senior positions in some of Sweden’s biggest tech companies including iZettle, Klarna and Spotify.
The company uses publicly available consumer data to gauge the creditworthiness of its customers and promises to refinance existing loans within seconds of receiving a photo of a statement of credit. current loan, including repayment history.
Consumers can send photos to Anyfin through a channel of their choice, such as text message, email or Facebook Messenger, and the company responds with an option to refinance the loan at a good rate. than. With one click, the consumer accepts the new Anyfin option and the company takes care of the existing loan settlement for him. The company says the number of active customers on the platform has grown by 50% in 2022, and half of its 1 million app downloads took place in the past 12 months.
In October, Anyfin raised $52 million in new funds to accelerate the growth of its business across Europe. The company says the capital will be used to set up a new office in Berlin – it’s first outside of Sweden – and strengthen the local team. In addition, Anyfin plans to launch a new app-based savings service for consumers in Germany, Sweden and Finland.
The increased investment in Germany will include the implementation of existing services in Sweden, such as interest-free cash advances, a budgeting tool and a way to block credit purchases. Other existing Series C backers include Accel, EQT Ventures, FinTech Collective, Quadrille Capital, Augmentum Fintech and new investor Citi Ventures.
B2B payments platform Sprinque raises €6m for Europe expansion
European B2B payments platform Sprinque has raised a €6 million funding round led by Connect Ventures, with participation from Kraken Ventures, Inference Partners and SeedX. Existing investors Antler, Volta Ventures and Force Over Mass also participated in the round.
Sprinque’s B2B payment platform allows merchants and marketplaces to offer invoice payments with clear payment terms to online shoppers without incurring additional risk or increasing operational costs. Sprinque is a white-label solution that can be fully integrated through their API, Magento plugin, Prestashop and WooCommerce, or works offline through their Seller Control Center.
“Sprinque has been built to enable merchants and marketplaces to offer Pay by Invoice with payment terms in the most seamless way possible for the most ambitious merchants,”
Juan Espinosa, Co-Founder, and CEO.
“Sprinque’s founding team has a deep understanding of B2B commerce and how to help their customers improve conversion, retention, and cash flow. They recognize that a B2C-style BNPL payment method does not translate into a B2B context, so instead they are building a differentiated product designed specifically for the breadth and complexity of B2B commerce,”
Rory Stirling, General Partner at Connect Ventures.
Sprinque’s buyer range covers much of Europe to enable frictionless cross-border e-commerce. It initially targeted merchants in the Netherlands, Spain, and Germany, but is looking to quickly expand to other countries.
The latest investment will be used to expand further into European markets and develop functionality beyond the Billing product, as well as develop risk-sharing and all-management solutions. both merchant and venue payment flows in the B2B marketplace.
“In our quest to find the next big winner in B2B payments, Sprinque’s management continued to impress us with their complementarity skills and executional strength. We could not be more excited to double down on our investment and help the company unlock this multi-trillion opportunity.”
Thibault D’hondt, Principal, Force Over Mass.
HES Fintech Selects Acquired.com as Their Strategic Payments and Banking Partner While Expanding Their Presence in the UK
HES Fintech, a leading smart lending platform provider, today announced a partnership with Acquired.com, a payments specialist and payment initiation service provider based in the UK. The UK, through which lenders using HES will be able to take advantage of a sophisticated payment solution designed to enable fast loan disbursements and transparent borrower-centric methods of collection.
“Acquired.com’s solution is best-in-class when it comes to payment processing”
“they have proved they can operate in a truly consultative manner by building a deep understanding of our client’s needs and what we want to achieve as we launch in the UK. As we bring our out-of-the-box solution HES LoanBox to the market we are excited to work with a payments partner in which we can put our trust in to help realize our goals.”
said Ivan Kovalenko, CEO at HES Fintech.
As HES begins to expand its market share in the UK, the partnership with Acquired.com promises to accelerate the delivery of market-leading solutions for B2B and B2C lending across a number of verticals. main.
When looking for a payment service provider to help achieve this ambitious goal, it was important for HES to find a partner that could meet the diverse needs of a diverse portfolio of customers. its form. Founded in 2015, FCA-regulated Acquired.com is a flexible payments specialist offering bespoke and bespoke payment processing solutions. They are uniquely positioned to benefit lenders using HES LoanBox by improving the end-to-end lending process with their tailored solutions, from seamless loan disbursement to Continuous and on-time debt collection is optimized.
As they looked to build long-term relationships with UK lenders, HES needed a partner with significant lending experience who could offer a variety of payment methods to borrowers, including Apple Pay, Google Pay and Open Banking. Additionally, Acquired.com’s Account Updater tool will allow HES lenders to avoid contacting borrowers with expired, lost or stolen card details. Enables recurring payments to be accepted seamlessly by automatically updating customer payment details without impacting service, benefiting both lenders and borrowers.
“Our partnership with HES Fintech establishes Acquired.com as the payments and banking solution of choice for UK Loan Management Software providers. It’s been a pleasure working with HES Fintech and their clients, tailoring our solution to meet specific needs and overcoming challenges faced. We are also delighted to see our proprietary Pay By Bank solution being put to good use in the lending sector.”
Jack Mangnall, Senior Partner Manager at Acquired.com.
Blackstone Completes Acquisition of Cvent
Cvent Holding Corp., an industry-leading meetings, events and hospitality technology provider, announced the completion of its acquisition by an affiliate of private equity funds managed by Blackstone for $8.50 per share in cash, representing a total enterprise value of approximately $4.6 billion.
The transaction, previously announced on 14 March 2023, includes a substantial minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and participation of current shareholders Vista Equity Partners. Due to trading, Cvent’s common stock has ceased trading and will be delisted from the Nasdaq stock exchange.
“Events are more important and more complex than ever before. We believe this partnership with Blackstone positions Cvent to continue leading the market for best-in-class technology to maximize event ROI and impact. We will continue to aggressively invest in the innovative solutions organizations need to more deeply engage with their customers, prospects, and employees that are so critical to their success.”
Reggie Aggarwal, founder and CEO of Cvent.
“Cvent has long been a go-to event management partner for organizations of all kinds, enabling them to embrace technology solutions in an increasingly digital world. We’re thrilled to support its continued growth and product advancements, bringing Blackstone’s global resources to bear and leveraging the firm’s deep expertise and thematic focus on hospitality, events and real estate.”
David Schwartz, a Senior Managing Director at Blackstone.
“Vista is proud of the partnership we’ve built with Reggie; the transformative change that Cvent has driven in the meetings and events ecosystem is a testament to how we help founders realize their company vision,”
“Both he and his leadership team are torchbearers of innovation, ingenuity and culture, and we look forward to seeing what they accomplish next.”
Monti Saroya, Co-Head of Vista’s Flagship Fund and Senior Managing Director.
Wealthtech OneVest raises CAD$17m
Canadian Wealth-as-a-Service firm OneVest has raised C$17 million in a Series A funding round led by Omers Ventures
Luge Capital, Panache Ventures, AAF Management, FJ Labs, Fin Capital, Pivot Investment Partners and Deloitte Ventures participated in the round.
Founded in 2021, OneVest provides a modular and adaptable infrastructure platform that allows financial firms to integrate and configure different components of wealth management services. for their customers. According to the company, it also allows companies to automate and streamline administrative and middle-office functions, which currently rely heavily on manual processes.
Users benefit from an intuitive interface for investors and advisors, powerful data aggregation, a trusted registry and powerful portfolio management tools, allowing them to create a property management service that offers a tailored service, which could launch in a few weeks.
This funding will be used to accelerate the company’s growth, recruitment, and expansion into the US market.
“We’ve built OneVest as a durable, highly scalable platform that can shape the future of wealth management.
“Financial institutions need exceptional experiences to meet both customer and advisor expectations when it comes to technology. The ability to implement a modern service with all the required compliance requirements built in, is compelling.”
Amar Ahluwalia, Co-founder and CEO of OneVest.
FIA Tech snags $25.4 million for Trade Data Network
FIA Tech, a leading futures industry technology provider, announced that it raised an additional $25.4 million in a funding round led by six existing shareholders, Bank of America, Barclays, Citi, Goldman Sachs, J.P. Morgan and Wells Fargo, in addition to BNP Paribas. As a result, BNP Paribas joins FIA Tech’s ownership consortium and will serve on its board of directors. This capital raise brings the total funding for FIA Tech to almost $70 million.
Funds raised will be used to accelerate the development of the Trade Data Network (TDN), an initiative that provides a shared ledger of trading information to address the fragmentation and lack of transparency in exchange traded derivatives (ETD) post-trade processing. The successful rollout of TDN is also expected to help reduce clearing delays for brokers and overall costs. The TDN initiative currently includes 16 banks/brokers and 40 investment managers and hedge funds with combined assets under management of over $37 trillion.
The initial rollout of TDN is focused on allocations processing and trade confirmations, with trade lifecycle transparency across the multiple brokers and the clearinghouse on each trade. Additional features include benchmarking, metrics tracking and reporting to drive best practices across the ecosystem. The initiative is also designed to drive value for the independent software vendor (ISV) community by reducing complexity in delivering services to clients.
“We are thrilled to join the board of FIA Tech, a firm we have worked closely with over the years. Technology is a central pillar of BNP Paribas’ GTS 25 (Growth Technology Sustainability) Strategic Plan, and the TDN initiative promises to deliver a pivotal platform for the ETD industry.”
Raphael Masgnaux, Head of Global Technology Platforms for Global Markets at BNP Paribas.
“We are delighted that BNP Paribas will be supporting us on our next stage of development and equally pleased at the support from our existing investors to launch the Trade Data Network. TDN has already proven its operational resiliency for participants in recent times of high market volumes and volatility.”
Nick Solinger, President and CEO of FIA Tech.
In 2021 FIA Tech announced its Series A investment round of $44 million to fund the spin-off of the firm and advance FIA Tech’s efforts to bring innovative solutions to the derivatives industry. Original investors were ABN AMRO Clearing, Bank of America, Barclays, Citi, Credit Suisse, Goldman Sachs, J.P. Morgan, Morgan Stanley, UBS, and Wells Fargo.
Stripe joins Mach Alliance
Mach Alliance, a group of independent technology companies dedicated to championing innovative, open technology ecosystems, today announced that Stripe has joined the Alliance.
Stripe, the company that builds the economic infrastructure for the Internet, is used by many major companies globally, from Amazon to BigCommerce, Ford, Zara, Maersk and many more.
“Stripe serves as an excellent example of a company that’s built upon a modern technical infrastructure,”
“They’ll be strong champions for the Alliance across their vast network of users and partners, which will influence broader embrace of MACH across the fintech category.”
Casper Rasmussen, MACH Alliance president.
“MACH Alliance is enhancing the online commerce space and is a leading standard for the industry,”
“Becoming a member was an obvious choice—many existing Alliance members are already Stripe users and partners, which demonstrates the importance of this ecosystem to accelerate digital experiences.”
Dorothy Copeland, global head of partnerships at Stripe.
The internet economy is still nascent. Traditional businesses are increasingly moving online or expanding their digital presence, including through payments and financial transactions. Only with a modern technology architecture can they transition to the digital age.
Organizations of all backgrounds, from startups to digital companies to brick-and-mortar businesses, need a MACH director to thrive. As the MACH Alliance’s annual survey of global IT decision makers shows, failure to innovate stifles competitiveness.
The MACH architecture, which stands for Microservices, API-first, Cloud-native SaaS, and Headless, gives businesses a greater degree of flexibility, allowing them to quickly deliver new features to customers. MACH Alliance members must meet strict certification standards and must be fully compliant to be eligible for membership.
DJUST raises $12 million to simplify B2B commerce
DJUST, a B2B e-commerce SaaS platform created by former Mirakl founder Arnaud Rihiant, today announced that it has raised €12 million in a Series A growth funding round to accelerate the market expansion.
Funding round by New Enterprise Associates, Inc. (NEA) leads, with additional participation from Elaia Partners.
Founded in 2020, the Paris-based B2B Commerce platform enables professional buyers and sellers to have an easy shopping experience, achieve greater productivity and drive growth. Unlike major B2C-focused platforms like Adobe Commerce, Salesforce Commerce and Shopify, the DJUST solution is purpose-built for B2B needs, empowering industries like distributors, franchisees, merchants wholesalers and manufacturers. The platform supports all B2B scenarios: online catalog, B2B E-Commerce connection, E-Shopping and Marketplace.
“The B2B eCommerce journey has been upended over the past decade, and behaviors and expectations on both the buyer and seller end have significantly changed the way B2B companies need to acquire, convert, retain, and expand customers. Yet many B2B companies are left to deal with these shifts on their own, supported only by outdated solutions that don’t fit their current needs,”
“We want to free all businesses of the hassle of building, launching and running B2B commerce. That will happen when companies stop making small adjustments to outdated systems and instead embrace an integrated, modular and powerful platform. In turn, that future-proofs new growth opportunities and excellent customer service.”
Arnaud Rihiant, Founder and CEO, DJUST.
“The B2B eCommerce market is estimated to be up to five times the size of the B2C market. And while there are many well-known software tools facilitating B2C eCommerce, today’s B2B technology stack remains outdated. DJUST’s simple yet powerful technology is an ideal match for the needs of today’s B2B businesses, whether they’re building their own eCommerce platform, working with suppliers, simplifying their procurement processes, or increasing the effectiveness of their sales operation,”
“The company’s rapid growth and ability to quickly demonstrate value for customers across different industries like retail, construction, fashion and pharmaceuticals give us confidence that they can scale sustainably over the long-term.”
Philip Chopin, Managing Director, NEA UK.
“Just as the consumer can now order anything at any time in only a few clicks, we believe that anyone should be able to place orders for their companies and replenish their stores just as seamlessly. DJUST’s SaaS solutions are the best answers on the market for B2B companies to bring their e-commerce operations to the same level as the e-retailers. We are very happy to welcome NEA, whose international network will help the company accelerate on the international scene, and to continue to support DJUST’s management team, which we believe has both the track record and the ambition to achieve this revolution in the B2B world,”
Xavier Lazarus, Managing Partner at Elaia.
The combination of a SaaS platform with B2B Commerce offers endless possibilities for businesses and buyers. For businesses, time-to-market is dramatically reduced, complete visibility into orders, processes, and deliveries, and powerful data insights are delivered through user-friendly control panel. . Together, this allows businesses to adapt to new shoppers who have very high expectations for their online experience. The DJUST platform offers powerful customization in the user interface, with drag-and-drop functionality and synchronization of data from old and new channels, allowing change and adaptation for new markets and buyers .
Together with co-founders Alexis Delplanque (Co-Founder and Head of Sales) and Eric Gaudin (Co-Founder and Head of Technology), Arnaud Rihiant launched DJUST with a seed funding of €4 million from home. invest in European Elaia in 2020. With the 12 million euros raised today, the company plans to expand into the European, UK and US markets, and invest more heavily in developing solutions for its main product. Over the past year, DJUST has doubled its number of employees from 20 to more than 40 and more than doubled its annual recurring revenue through more than 15 new agreements with major distributors and manufacturers around the world. Europe, allowing them to quickly move from offline to online and connect all systems to one central truth platform.
“We are going from decentralized to centralized with DJUST B2B Commerce. Our business processes are automated on the platform, and we can connect our ERP to the solution. This was a huge differentiator when we chose to partner with DJUST,”
Remi Beranger, Vice President of Global Procurement & Supply Chain at deSter.
“With a modern B2B Commerce solution, we can increase productivity, customer satisfaction and gain more visibility by centralizing all procurement and reassortment operations. We can offer our franchisees a B2C-like experience.”
Arthur Caron, Head of Supply Chain at Franprix, one of France’s leading retailers.
With a young and original mindset, DJUST not only provides an ordering and delivery platform, but also a true partnership with customers and a transparent product roadmap.
“We needed a B2B expert who could offer a flexible solution that can grow and build with us – someone who thinks out of the box. This would not have been possible with a more traditional solution vendor,”
Henri Danzin, Director of Marketing and Commerce at Socoda.
One of the reasons DJUST has been so successful over the past year is the platform’s ability to integrate with any existing technology stack and channel. This frees teams from time-consuming data consolidation and repetitive manual data transfers, and allows businesses to retain legacy systems as they transition to a digital business. completely.
“The DJUST B2B Commerce solution and project approach allow us to progressively transform digitally. By giving us the tools to sell and trade effectively, we can concentrate on making a better buying experience rather than on managing a technology,”
Nicolas Rigot, Procurement Director at Eiffage, a leading European Construction company.
American Express and Plaid Announce Customer-Permissioned Data Sharing Agreement to Boost Digital Finance Options for Customers
American Express announced an agreement with Plaid, a data network powering the digital financial ecosystem, for API-based integrations that will provide new digital banking options for customers while also improving the security of their accounts. Millions of American Express customers will now have the ability to more securely sign in to Plaid’s 8,000+ connected apps and services in the digital banking ecosystem without the need to share their American Express passwords. theirs with third parties. This is especially important since US consumers use an average of three fintech apps to manage their finances[1].
Integrating Plaid services with American Express’s Accounts API provides customers with transparency and control over where and how their financial information is authorized and shared. The integration also eliminates the need for customers to share their American Express credentials with any party other than American Express in the ecosystem. The integration allows customers to take advantage of American Express’ secure authentication procedures designed to enhance the security of their transactions before disclosing their account financial information to third parties reliable.
“This agreement reflects American Express’ commitment to providing our customers with the security, control and transparency they want when sharing their account data with financial apps of their choosing,”
“With Plaid, we’re taking another key step in our effort to create a safer digital experience for our customers in a world where people increasingly rely on a variety of digital tools to manage their finances.”
Danielle Cloud, Senior Vice President, Enterprise Data Governance & Platforms, American Express.
American Express’ Account Financials API allows customers to share their financial data, while also maintaining the privacy of their user credentials. The many benefits to American Express customers include:
- Enhanced Security – Supported by the OAuth2 protocol, the Amex Account Financials API provides customers with more control over where and how their financial information is being accessed and shared.
- Greater Reliability – Customer directed account information is shared in real-time.
- Increased Control and Transparency – Customers can now more clearly understand and better manage their connections to financial service provider apps and have better visibility into where their data is going and what data is being shared.
- Fewer Sign-on Disruptions – Thanks to the API integration, connections are more stable, and may last for longer periods of time, enabling easier sign-ons.
“At Plaid, our mission is to help all consumers benefit from safe and reliable access to their data,”
“We are thrilled to partner with American Express, a storied brand fundamental to the financial lives of so many, to facilitate secure connectivity for their account holders to thousands of apps in our network.”
Christy Sunquist, Head of U.S. Financial Institution Partnerships at Plaid.
The launch of the API-based integration with Plaid is set to begin in 2023.
Fiserv Completes Listing Transfer to the New York Stock Exchange
Fiserv, Inc., the world’s leading provider of payment technology solutions and financial services, today announced that it has completed the transfer of its public listing to the New York Stock Exchange. As of today, the company starts trading under the symbol “FI”. To celebrate the transfer, a representative from Fiserv will ring the NYSE opening bell at 9 a.m.: 30 p.m. ET.
“To lead in fintech today means not just enabling commerce and money movement, but disrupting on behalf of, not in place of, its long-standing participants. Our decision to transfer to the NYSE and introduce a new ticker – FI – is a signal and symbol of our leadership position in fintech,”
“Our focus on clients through innovation, talent, and investment has enabled us to drive sustained growth, as we reach more than 100 countries and serve nearly 100% of U.S. households.”
Frank Bisignano, Chairman, President and Chief Executive Officer of Fiserv.
“We’re thrilled to welcome Fiserv, an established leader and trailblazer in fintech and payments, as the newest member of our NYSE community,”
“Fiserv joins our community of innovators, icons and disruptors, who routinely set the pace in advancing tech-driven innovation across the globe.”
Lynn Martin, NYSE President.
To mark its first partnership with the NYSE, this summer Fiserv will release its first Fiserv Small Business IndexSM, a monthly summary of consumer spending in small businesses by card and cash. , online and in store. Combining Fiserv data with the NYSE’s indexing expertise will provide new insights for the future stake holders of small businesses, including financial institutions, policymakers, investors, market researchers and businesses of all sizes.
On June 5, 2023, Fiserv was honored in the FORTUNE® 500 for the eighth consecutive year. Ranked 230 for 2023 based on revenue of over $17 billion in 2022. Earlier this year, Fiserv was also recognized for its ability to inspire and bring innovation on behalf of its customers when it is launched. on Fortune®’s list of America’s Most Innovative Companies. Get a holistic view of the company’s focus on innovation. Companies were selected based on a survey of employees and experts in various fields, as well as an independent analysis of the number and value of the company’s patents.
In a world that is changing faster than ever, Fiserv helps customers deliver solutions that match the way people live and work today – financial services at the pace of life.
UKG Transforms Multi-country Payroll with Agreement to Acquire Immedis from CluneTech
UKG announced an agreement to acquire Immedis. With the acquisition, UKG will launch UKG One View to modernize and transform multi-country payroll for multinational businesses by delivering unprecedented flexibility, real-time visibility, uniform controls, and an exceptional employee experience – all regardless of in-country provider.
To transform multinational payroll with the smartest and most flexible HCM experience in the industry for multinationals, UKG Inc., the leading provider of human resources, payroll and workforce for all Everyone, has reached an agreement to acquire Immedis, a leading global payroll technology and services provider supporting more than 160 countries. Acquisitions, subject to termination conditions, are expected to close within 60 days.
Immedis, founded in Ireland in 2016, is a subsidiary of CluneTech, a collection of technology companies focused on simplifying global business. With 370 employees worldwide, Immedis has built an extensive multinational client base spanning key industries. Demand for payroll platform Immedis has surged, and this acquisition reflects an increased valuation compared to the previous round of investment. Once the acquisition is complete, UKG will launch UKG One View later this year. Developed in close collaboration between UKG and Immedis, One View uses the strengths of both organizations to transform the traditionally fragmented global pay model. With One View, customers will benefit from:
- Singular “schedule to fund in one” experience that combines an AI-powered perpetual validation engine and continuous workforce management integration to provide a real-time view across all employees, regardless of country or provider, to identify trends, variances, and other insights;
- Hybrid deployment model which can be deployed in weeks, allowing customers to bring other in-country payroll technology and services for immediate visibility, minimizing disruptions and accelerating time-to-value;
- Uniform workflow control in a single-pane view that creates one operational standard across countries, simplifying benchmarking and enhancing in-country provider accountability; and
- Consistent employee experience for all in an intuitive application, supporting 20+ languages across 160 countries, with better usability, support, and a globally compliant pay slip that inspires confidence they are being paid fairly and accurately.
“Traditional global payroll is a cumbersome and complex process that too often relies on a patchwork approach, lacks transparency and insight, and is prone to errors that hurt both people and organizations,”
“Even in 2023, most companies still lack a single, reliable, and accurate way to understand how much they’re paying employees worldwide. Those that do know have invested in costly and time-consuming manual efforts, which still result in outdated information they can’t use proactively. The formidable combination of UKG and Immedis will be transformative and help us reshape and modernize how North American-based global businesses manage their people — and compliance — worldwide.”
Hugo Sarrazin, chief product and technology officer at UKG.
“Tackling the persistent challenges of global payroll and compliance across multiple countries through completely new and innovative approaches that are technology-led has been the driving force behind our work at Immedis,”
“Now, coupled with the powerful UKG HCM suite and its industry-leading global workforce management, we’re excited to help further redefine the entire multi-country payroll market.”
Richard Limpkin, co-founder and chief strategy officer at Immedis.
Immedis provides organizations with a modern and global payroll technology platform based on a perpetual validation engine. This allows for consistent data modeling and reporting, regardless of the country the provider is in. It also offers payroll management services in 160 countries and 120 currencies.
With the acquisition, UKG will immediately begin offering a fully managed, multinational payroll service to US and Canada based businesses seeking external payroll processing support North America or those who simply want a global and unified view of their payroll around the world. , even if they already have a preferred payroll provider.
“Combining Immedis and UKG ensures that businesses and their employees will have the best possible multicountry payroll experience. As a longtime UKG partner, we have a great track record of success together,”
“Joining UKG expands the reach and impact of our ground-breaking technology. It also presents tremendous new opportunities for the exceptional people who make Immedis special. I am extremely proud of our incredible team, and I’m delighted that each of our 370 Immedis staff will gain from this acquisition.”
Irish entrepreneur Terry Clune, founder of Immedis and CluneTech.
“The acquisition of Immedis and the introduction of UKG One View is transformative for the HCM industry, delivering unprecedented levels of visibility, flexibility, and accuracy to the multi-country payroll process,”
“Having worked closely and strategically with Immedis for several years now, we’re thrilled to welcome the entire Immedis team into the UKG family.”
Chris Todd, CEO at UKG.