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Zopa Bank surpasses the £3 billion deposit mark
The £3 billion deposits milestone was reached by Zopa Bank this week, and our clients have established a total of 150,000 new accounts to increase their savings rates in the current difficult economic climate.
The goal of Zopa is to increase the productivity of the hundreds of billions of “zombie money” that are now inactive in UK current accounts.
The Smart Saver, Zopa’s BEST BUY “hybrid” savings account (easy access/notice), offers an AER of up to 3.26% for boosted accounts with a 95-day notice period and 2.86% for simple access options. The FTS is a fixed-term savings account offered by Zopa with a minimum deposit as low as £1,000 and a fixed rate of interest that is currently as high as 4.5% AER for 5 years. Deposits with Zopa are covered by the UK’s deposit guarantee program, the Financial Services Compensation Scheme (FSCS), up to a maximum of £85,000 in total.
“This is an important milestone that reinforces our belief that our proposition centered around fairly priced credit and attractive returns on savings has become a lot more relevant in today’s environment. Our fresh take on the saving needs of UK consumers drives every aspect of product innovation at Zopa. Savers should look for value and consider savings options that combine a high-interest rate, good service, flexibility, and tools to manage their money instantly with a few taps from their smartphones”.
Merve Ferrero, Chief Strategy Officer at Zopa.
The deposits of Zopa Bank have surpassed £3 billion. In just 30 months, the Zopa FTS savings account has attracted £1 billion.
In less than 11 months, the Zopa Smart Saver account has garnered £2 billion. To reach £1 billion, it took 6 months, and to double that amount to £2 billion, it took just over 4 months. Currently, more than half of all Smart Saver funds are “boosted” pots. Customers of Zopa have so far created 150,000 savings accounts. These have topped the best buy lists more than 20 times, demonstrating their enormous popularity.
Fintech Twig acquires teen banking firm Vybe Technologies
FinTech Circular Economy Twig has announced the acquisition of Vybe technology, the leading UK youth banking provider. This new development follows the recent acquisitions of UK companies Loopster and Mobi. the market as Twig strives to be the right platform for the Gen Z market.
“We are so excited to be taking this step forward and are confident that it will help us expand our reach to even more customers. With the technology the Vybe team built, we are able to offer our users a more comprehensive suite of services, including teen banking and financial literacy education. This will help us better serve the Gen Z audience and provide them with the tools they need to be successful in their financial lives.”
Twig CEO, Geri Cupi.
Twig said adding Vybe to the company’s portfolio further reinforces its commitment to be a “leader” in the Gen Z market. The latest acquisition also comes about 11 months after Twig raised it. $35 million in Series A round.
This investment has helped the company accelerate the delivery of its green Web 3.0 payments infrastructure and accelerate the rollout of its current suite of financial products. Series A is led by UK fintech specialist Fasanara Capital, backed by undisclosed strategic investors, a group that includes current and former LVMH executives, Valentino, Balmain, Tod’s, Swarovski, L’Oreal, Barclays, Goldman Sachs and Scalapay.
Twig claims to be one of the fastest-growing FinTechs in Europe, boasting 1 million users by October 2022, just 15 months after launch. By emphasizing the principles of the circular economy, the company aspires to have a lasting impact on the industry and provide users with the best products and services available.
St Luke’s launches first TotallyMoney campaign to help consumers climb towards their financial dreams
St Luke’s has launched its first credit app, TotallyMoney, with a TV and online campaign showing how, with the right advice and support, people can reach higher and achieve get your goal.
A recent study by TotallyMoney revealed that 20 million adults are financially inadequate, a number that has increased by 50% in just six years. And that’s who they’re building the app for. Believing that customer data will work in their favor, not against them, fintech provides nearly five million customers with free, direct credit reports, and personalized alerts to highlight what matters. get in their way and personalized advice to help them improve their scores.
The new 30-second ad titled “You’ll Be Totally Successful” highlights TotallyMoney’s free credit report and personalized plans, with a story showing people on their way to their financial goals – something that will resonate with many who don’t. know where to start. The three-month campaign will air on TV, VOD, and YouTube through the end of March 2023, with Electric Glue media planning and purchasing.
The brightly colored animation shows many people, with different ambitions, starting their journey through metaphorical rope ladders and climbing to their goal that lies in the clouds. The pastel cartoon style is designed to invite and embrace all kinds of aspirations, encouraging people with the tagline “You’ll totally make it”.
“At TotallyMoney we’re on a mission to help everyone move their finances forward. Our focus is on the 20 million UK adults who are otherwise overlooked and under-served by the financial services industry. We understand the needs of real people and the challenges facing them — and as part of our new brand focus, we’ll be telling human stories with a more emotive approach.
“The tone of this new campaign reflects TotallyMoney’s understanding of our customers and how they’re feeling in the current economic environment. It encapsulates the work we do by providing people with support and personalized plans to help them reach their financial goals, whatever they may be.”
Rebecca Shears, Chief Marketing Officer at TotallyMoney.
“Most campaigns in this sector suggest improving your credit score is a bit of fun. This is out of step with the real experience of trying to borrow affordably. TotallyMoney understands exactly what its customers are going through, and we set out to create a campaign that dramatized that. Lobo, our production partners, have created beautiful, painterly illustrations and animations that reflect the struggle of improving your credit score with both sensitivity and a sense of undimmed optimism.”
Al Young, Chief Creative Officer at St Luke’s.
The new campaign is St Luke’s first after winning the TotallyMoney venture in July 2022, following a competition with 3 agents.
Credefi partners with Experian
On the route to fixing important inefficiencies withinside the subject of conventional economic lending and borrowing, Credefi has done a primary milestone in its partnership with the TradFi behemoth Experian.
Credefi has control to steady the rights to apply Experian’s formally recognized and official logo substances to place itself as ‘Credefi – Powered through Experian.’ In doing so, the group has to turn out to be the primary withinside the blockchain enterprise to steady a partnership of this proportion.
Experian is one of the biggest credit score bureaus withinside the world. The employer collects and researches individuals’ credit score records and charges their capacity to pay off debt. It’s a publicly traded employer with lots of personnel and places of work worldwide, harboring a complete marketplace capitalization of upwards of $27 billion. This tips on the huge significance of this partnership and the consideration and transparency it invokes in Credefi.
The collaboration ambitions to similarly make bigger Credefi’s attain and get admission to institutional-grade customers and formalize each corporation’s bilateral cooperation. It additionally highlights the best of requirements that the group units out to keep on the subject of the exceptional of its carrier, however additionally the protection and protection of its users.
Both corporations are running to higher the open banking gadget and combine complete FinTech APIs. The partnership makes it smooth and frictionless to test and regulate Credefi’s scoring, however, it is also vital for Experian.
As a part of the Green Deal of the European Union, Credefi will become the authentic Experian associate and mediator for imparting the carrier of Green Company scoring to each of the corporations that practice for a mortgage via their platform.
For context, the Green Deal ambitions to enhance the general fitness and wellness of EU residents and their destiny generations. To do so, the framework units forth the basis for brisker air, purifier water, more healthy soil and biodiversity, extra energy-green buildings, more healthy and extra low-cost food, and so on.
Understanding the significance of compliance and being absolutely present, Credefi’s partnership with Experian ambitions to uphold the excessive requirements laid out withinside the framework.
MoneyGram Launches MoneyGram Online Website in Brazil
MoneyGram International, Inc., a global leader in the development of P2P digital payments, has announced the launch of MoneyGram Online in Brazil. Consumers can now use the company’s main website to send money from Brazil in near real-time to family and friends around the world. Recipients can receive cash through the company’s suite of options designed to meet their unique needs, such as depositing into accounts or mobile wallets and receiving cash at the point of sale. MoneyGram launches this service with no transaction fees to consumers.
“As we continue to execute our strategy to grow and expand MoneyGram Online geographically, I am thrilled to announce that our website is now officially live in Brazil,”
“We are extremely proud of the immersive online platform we’ve built for customers around the world, and our sustained digital growth globally demonstrates that consumers truly value our leading user experience. We’re confident that this launch will enable us to capture growth from new customer segments, deepen relationships with established customers and create tremendous value for years to come.”
“This is a significant growth opportunity for MoneyGram to capture market share in a country with one of the largest populations in the world. As we approach the start of the new year, we’re set up for success.”
Alex Holmes, MoneyGram Chairman and CEO.
MoneyGram has had a prominent presence in Brazil with more than 1,000 points of sale across the country allowing consumers to send money abroad over the past 25 years. The company is committed to continuing to meet the ever-changing needs of consumers, and as demand increasingly moves online, MoneyGram now allows Brazilian consumers to send money on the go or from home or the lobby instantly. convenient way.
According to the World Bank, remittances from Latin America have steadily increased in recent years. In Brazil, immigration flows have increased by 24% over the past 10 years, reaching 1 million immigrants in the country by 2022. As demand for digital solutions in the country grows, so does the digital remittance segment. Brazil’s number is expected to grow by nearly 10% over the next five years. This new service is made possible thanks to MoneyGram’s partnership with Frente Corretora, a leading fintech company in Brazil.
Clarity AI and LSEG announce partnership to provide new SFDR reporting tool for investors
Clarity AI, the leading global sustainability technology platform, announced a partnership with Refinitiv, a London Stock Exchange Group (LSEG), to develop the SFDR Reporting Specialist.
The SFDR is an important part of the EU’s Sustainable Finance Action Plan, which aims to encourage capital inflows into companies and activities that support the EU’s social and environmental goals. It requires financial institutions to disclose the “primary adverse impact” of their investments on social and environmental issues and also applies to those marketing sustainable investment products. for additional disclosure at the product level. The Refinitiv Lipper1 data below shows the number of Articles 8 and 9 funds and related assets under management, indicating the number of companies subject to SFDR reporting requirements:
- Article 8: Euro 5,219,972m (10,300 primaries)
- Article 9: Euro 478,424m (1,221 primaries)
“We are excited to partner with the team at LSEG to bring our market-leading SFDR data coverage and reporting capabilities to an even broader base of clients,”
“LSEG serves thousands of asset managers who will have to report on SFDR, and accuracy will be key – especially in the environment of high regulatory scrutiny surrounding ESG and sustainability.”
Rebeca Minguela, Founder and CEO of Clarity AI.
SFDR Reporting Professional will provide hybrid capabilities leveraging market-leading data coverage from over 50,000 companies. It is complemented by all the data published by the LSEG on ESG, fundamentals, funds and sovereignty.
Data will be accessible through fully integrated APIs and tools, including the ability to aggregate at the portfolio level or view at the individual security level. In total, more than 20 indicators will be mapped, of which 16 are required. In addition, PDF report templates will be available and can be viewed to facilitate reporting to regulatory agencies.
“SFDR is placing additional reporting requirements on those marketing sustainable investment products and many are requiring comprehensive reporting tools to help them comply. As a provider of some of the most comprehensive sustainability data and indexes available, we are committed to developing leading edge capabilities working with leading specialist sustainability players,”
“Partnering with Clarity AI ensures our clients will have the best possible information and capabilities available to them for SFDR reporting, and we’re already exploring future opportunities for collaboration with Clarity AI.”
Cornelia Andersson, Group Leader, Sustainable Finance and Investment at LSEG.
Ripple Brings the Benefits of On-Demand Liquidity to France and Sweden
Cryptocurrency solutions are gaining traction across Europe. Ripple’s New Value 2022 Report shows that 70% of respondents at financial institutions in Europe expect blockchain, the ancillary technology that powers Ripple’s crypto solutions, to have a major impact or substantially to their business over the next five years.
However, companies in France and Sweden will not sit idly by for the next 5 years but instead embrace crypto solutions now thanks to two new Ripple partnerships.
Since 2020, Paris-based pan-European payments organization Lemonway has partnered with Ripple to reduce payment times for its customers by streamlining cross-border payments. surname. Lemonway is currently using Ripple’s On-Demand Liquidity (ODL) solution to improve its internal cash management, further positioning the company as a leader in payments.
As the first French payment service provider for online marketplaces using ODL, Lemonway can now improve operational efficiency by eliminating the need to pre-fund accounts destinations in the country outside, giving them the ability to use previously trapped capital to expand into new markets and scale their businesses.
Additionally, Ripple also announced a partnership with remittance service provider Xbaht in Sweden to enable instant and affordable money transfers. Since ODL enables the movement of capital around the world in seconds at a fraction of the cost of the traditional payment methods businesses currently rely on, Xbaht can leverage this technology to enable its customers to send money across borders faster and cheaper than ever before.
Ripple’s focus on using blockchain and crypto to create real-world use cases has made us the partner of choice for businesses to harness the liquidity of money e-global, eliminating legacy conflicts related to cross-border payments such as slow payment times, lack of transparency, and excessive costs.
These partnerships enable consumers and businesses in France and Sweden to make cross-border real-time payments, powered by Ripple.
Copper Launches Teen Investing Product To Power A Younger Generation of Investors
Copper, the go-to banking app that truly teaches teens and kids about money and sets them up for future financial success, announced its expansion to Copper Investing, a teen-centric Registered Investment Advisor (RIA). Copper Investing offers accessible, automated investing portfolios for teens to learn about (and actually start) building wealth in a safe environment. Its goal is to financially empower teens for the long term by building and reinforcing real-world learning experiences that help teens grow as investors—not just make money.
After hosting free financial literacy seminars at more than 5,000 high schools across the country, Copper is expanding beyond banking with Investing in Copper: a one-of-a-kind education-driven youth investment platform. This product provides accessible, automated investment portfolios for teens to develop financial literacy at an early age and apply that knowledge to accumulate wealth in a meaningful way safe.
“With inflation on the rise, teens need to go beyond saving—they need to learn about the growing wealth,”
“One of the biggest opportunities for teen wealth-building is time in the market and willingness to take risks. Our research shows teens are eager to get started and with Copper Investing, we will empower them to become savvy investors from a place of financial education so parents can feel secure, too, knowing their teen’s financial future comes first.”
Eddie Behringer, Co-Founder and CEO of Copper.
Copper Investment uses a proprietary questionnaire that follows industry best practices to specifically assess a user’s risk tolerance. It then matches them with a carefully designed portfolio that fits within their investment comfort zone while ensuring that the parent’s investment preferences are met. Copper’s three global equity portfolios include no bond or crypto risk and are designed to offer an attractive trade-off between long-term risk and return across a range of cost ETFs. short. Additionally, Copper has committed approximately $1 million to over 200,000 people on Copper Investment’s waitlist. When the investment product launches, this generation of teen investors will have a total of over $1 million in contributions funded by Copper for their first-time wealth and investment accounts.
“I believe that during the pandemic we lost a lot of things that are important by not attending school. I feel that being knowledgeable about finance and investments is really important for our future,”
Copper member Aidan F. from Cottonwood, CA.
The growth of copper in financial services is an example of fintech’s real-world empowerment potential. The company was recently invited to the White House, Consumer Financial Protection Bureau (CFPB) and Federal Reserve to discuss the bright future of fintech as an educational and outreach tool.
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.
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.
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.
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.
Carat from Fiserv Introduces Fraud Mitigation Solution to Simplify How Large Businesses Manage Risk
Fiserv, Inc., a leading global provider of payment and financial services technology solutions, today introduced a new fraud mitigation solution designed to simplify the way large enterprises manage multichannel risk management. Accessible through the global trading platform Carat, the modular solution provides traders with controls that can be customized to their risk appetite, as well as easily accessible. access to transaction points, chargeback management and other features.
Fiserv will be rolling out Fraud Reduction this week at the Commercial Risk Council (MRC) in Las Vegas, March 6-9.
As online fraud continues to increase, as evidenced by an estimated $41 billion in damage from e-commerce by 2022, it may come as a surprise that only 27% of sellers reported minimizing losses due to online fraud. cheating is the guiding light of their fraud reduction philosophy. Instead, sellers say they focus on maximizing sales, minimizing user engagement, reducing false negatives, or balancing sales with losses due to fraud.
“As omnichannel fraud becomes more sophisticated, businesses are trying to strike a balance between reducing risk and driving revenue – whether that is by maximizing authorizations, limiting false declines, or preserving consumer trust,”
“By providing businesses with a highly configurable and scalable solution, merchants can align fraud controls to their business strategy and easily augment their tech stack without integrating to additional vendors.”
Jason Paguandas, Vice President and GM of Merchant Fraud at Fiserv.
The modular solution simplifies how businesses manage risk via:
- A flexible, rules-based fraud prevention engine, which provides control over risk thresholds.
- Monitoring and scoring capabilities, which help stop suspicious transactions by leveraging machine learning, behavioral analytics, and industry-leading link analysis.
- Trusted chargeback protections, which safeguard against consumer chargeback abuse.
Benefits of data in fraud prevention
The rule-based engine supporting Fraud Reduction is complemented by collecting card, network and issuer data from Fiserv – providing a horizontal view of payment activity. These highly differentiated datasets are ingested by machine learning engines to improve decisions and deliver optimal results, such as improved authorization rates and reduced false rejections, for commercial transactions. e-commerce.
“Card not present transactions have historically been challenging from a fraud mitigation perspective, as very limited data passes through the authorization stream from the merchant to the issuer,”
“Augmenting decisions with a wide variety of data sources can significantly strengthen the customer risk profile, especially when a business is able to connect merchant and issuer data.”
Julie Conroy, Head of Risk Insights and Advisory at Aite Novarica.
Fraud Mitigation is part of Carat, Fiserv’s global commerce platform that coordinates payments and experiences for the world’s largest companies. With Carat, leading brands can consolidate their commerce, optimize deals, imagine and realize new ways to interact with customers.
Northern Trust And Eds Announce New Collaboration With Uk-based Asset Manager Redwheel
Northern Trust announced today that UK asset manager Redwheel is now using its data aggregator, developed by strategic partner, Equity Data Science, Inc., to improve the ability to integrate ESG in its investment activities. Founded in 2000 and formerly known as RWC Partners, Redwheel currently manages approximately US$19 billion for its clients.
The data aggregator leverages data science to help increase data accessibility while improving efficiency and improving collaboration between Redwheel’s investment teams and core commerce functions. With this tool, investment teams are better equipped to track and analyze third-party and proprietary ESG data throughout the investment lifecycle, with the platform providing a single view for integration. and ESG reporting.
“The insights we can derive from Northern Trust and EDS’ data aggregation tool enable us to use ESG data more effectively. By enhancing data accessibility, it becomes easier to integrate ESG considerations within both investment decision-making and client reporting,”
“Working in collaboration with the Northern Trust and EDS teams we have been able to harness the power of the tool’s flexible architecture, helping us make rapid progress towards our end goal which is to fully embed the tool within all investment and oversight processes to meet the evolving expectations of our clients.”
Chris Anker, Head of Sustainability at Redwheel.
“ESG is more important than ever for many investors but implementing it can be challenging in a dynamic market environment. Partnering with EDS to launch the ESG workflow solution was a significant step forward for us and our clients,”
“We have enabled our clients to more easily access their data while providing a new level of efficacy, which is a key tenet of our Whole Office™ strategy. Most importantly, we can provide a single source for data which is often difficult to obtain.”
Paul Fahey, Head of Investment Data Science at Northern Trust Asset Servicing.
“It is no secret that ESG data is increasingly being utilized within investment decision making but accessing that data can be time-consuming and inefficient,”
“The ESG workflow solution helps Redwheel integrate their ESG data and improve accessibility for their investment teams. Discussions continue between EDS and Redwheel regarding the development of additional capabilities which, if implemented, we hope will help to further improve their research management and portfolio construction decisions, enabling them to achieve their business and performance goals.”
Greg McCall, President of Equity Data Science.
Starling Bank Reveals Location Of New Northern Base As Headcount Swells
Starling Bank has chosen Barings’ Landmark in Manchester to locate its new office in the North. The digital bank intends to create up to 1,000 new jobs for the region to fill roles across the enterprise, including operations, engineering, data science and cybersecurity.
The digital lender, which now has 2,500 employees in London, Cardiff, Southampton and Dublin, has chosen Manchester as its headquarters for its northward expansion because of its huge pool of financial technology talent, with the city boasting the world’s largest regional FinTech ecosystem. Kingdom. Manchester has also been chosen by the new Center for Finance, Innovation and Technology (CFIT) as a hub for financial innovation, which will boost the government’s ambitions to transform the UK into a superpower in terms of finance. technology and science.
“Manchester is one of the most important tech hubs in the UK. London’s success as a global fintech hub enables it to spread wealth and jobs throughout the UK and the wider economy. That’s exactly what we’re doing with this office in Manchester.”
Anne Boden, Founder and CEO at Starling Bank.
Starling has signed a 10-year lease for the 14,061 square foot fifth floor of Barings’ Landmark. Landmark was chosen for its central location in St. Peter and for its sustainable design. The office runs on green energy, is built with sustainable materials, encourages employees to make more eco-friendly transportation decisions, and has two hives, each containing approximately 80,000 worker bees throughout the season summer.
“We’ve had some outstanding applications for our roles in Manchester already, affirming the city’s place as the tech capital of the North. We want to offer our talent the best of the best; the facilities at Landmark made it the obvious choice for us.”
Susanna Yallop, Chief People Officer at Starling Bank.
“Manchester is the largest regional tech hub outside of London, home to more than 10,000 tech businesses benefiting from our digital expertise and ambitious, collaborative nature.
“We’re excited to welcome Starling to this community not only for their best-in-class banking but their ethics. Manchester city-region is proud of our heritage in disrupting the norm and our history of empowering women dating back as far as Emmeline Pankhurst; here we align with Starling and look forward to working with them to take the financial services sector to new heights.”
Deborah Walker, Head of inward investment for Financial, Professional, and Business Services at MIDAS.
Starling already has strong ties to the North through its association with the Lancashire women’s football community. As the only bank in the UK founded by a woman, Starling has funded thousands of pounds in grassroots women’s clubs in the region and has partnered with former Manchester City player Jill Scott MBE, to launch a £200,000 women’s outfit. Junior teams at Astley & Tyldesley Girls’ FC. The bank also sponsored UEFA Women’s EURO 2022, where it partnered with Manchester City striker Lauren Hemp to kick off the UK’s first-ever Women’s EURO fantasy football tournament.
Xapo Bank Partners With Lightspark, Becoming The First Fully Licensed Private Bank To Offer Near-instant Bitcoin Payments Through Lightning Network Integration
Xapo Bank, the leading Bitcoin custodian and licensed private bank, has partnered with Lightspark and integrated with Lightning Network to enable lightning-fast Bitcoin payments for its customers. Xapo Bank members can now instantly pay for small purchases up to $100 at any provider that accepts Lightning payments without incurring high transaction fees and waiting times. long blockchain validation. As the world’s most trusted crypto advocate, Xapo Bank also offers an annual interest rate of 4.1% on the US Dollar and will soon offer up to 1% on Bitcoin, spread across the year and is paid daily.
Lightning Network allows payments to scale to millions of transactions per second on the network. This integration will alleviate the time-consuming and expensive experiences that often make it difficult for users to pay for small bitcoin transactions. Xapo Bank will be the first fully licensed private bank to offer near-instant Bitcoin payments, and its goal is to become the largest Lightning Node, expanding network usage to many users new.
“The average transaction confirmation time of one hour combined with potentially large fees during periods of high usage make the Bitcoin network unsuitable for small daily payments such as groceries. By integrating with the hyper-efficient Lightning Network, we are the first bank in the world to streamline this process and allow our members to pay for small purchases with Bitcoin without having to convert to USD first. Against a backdrop of hyperinflation, economic uncertainty and political turmoil, we are entering a world where digital money is ubiquitous, and we need integrations like this that open up access to Bitcoin payments. We are bringing together the benefits of fast, cost-efficient, and global Bitcoin payments with the security, privacy, and flexibility unmatched in the traditional banking industry.”
Seamus Rocca, CEO of Xapo Bank.
Founded in 2013, Xapo is the first Bitcoin holder and one of the most trusted custodians in the industry, providing users with a secure platform to store and transact in their Bitcoins. Surname. It was the world’s first cryptocurrency company to obtain a banking license, evolved into Xapo Bank and has since expanded its services to include accounts with interest rates in both USD and BTC, while continuing to expand asset management services, in addition to other banking services. Unlike other financial services companies, at Xapo Bank members fully own and control their Bitcoins, meaning they can receive, hold and send Bitcoins directly.
“We’re thrilled to enable the first bank on the Lightning Network to offer instant, cheap Bitcoin payments to its customers. Xapo has been one of our early closed beta partners, and we’re delighted they chose Lightspark’s enterprise-grade solution to reliably send and receive payments on the Lightning Network without all the complexity and operational overhead that typically comes with running a node on it. We look forward to talking more about our solution in the months to come.”
David Marcus, CEO and Co-Founder of Lightspark.
To pay via Lightning Network, Xapo Bank members will need to hold Bitcoins in the Xapo Bank app. They can then simply scan and pay the invoice at any merchant that accepts Lightning Network payments. The network charges a very small fee per transaction, usually a few Satoshi. Xapo Bank has set a flat settlement fee for SAT 15 (less than 0.01 USD as of Feb 24) to protect members from performing high-fee transactions.
“We believe that Bitcoin is the future of money, and we are committed to helping our members navigate this new financial landscape. By expanding our services to include instant Bitcoin transfers, we can offer our members better usability and ultimately grow the cryptocurrency that many of our members rely on.”
Wences Casares, Chairman at Xapo Bank.