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Tyndall Federal Credit Union Shares $13 Million in Profits With Its Member-Owners
Tyndall Federal Credit Union returned $13.7 million of profits back to its members. The payout was given to more than 70,000 qualifying members and deposited directly into their savings accounts. Individual amounts were calculated based on participation with the credit union and ranged from $70 to $420.
Over the past five years, Tyndall has given more than $40 million in profit-sharing and disaster assistance to its members. Tyndall profit shares were distributed to 41% more people in 2022 than in 2021.
“We’re able to deliver value year after year because we don’t waste our members’ money,”
“Instead of charging excess fees, and exorbitant rates, our team is able to do this by keeping operating costs down, investing in digital channels and focusing on our members’ needs.”
Jim Warren, President and CEO.
On January 1, Tyndall began waiving more than 15 types of fees, including monthly service fees, minimum balance fees, money market fees, underfunding, and ATM fees. The credit union’s community support also includes providing nearly $150,000 in community grants and providing its employees with 4,000 hours of community volunteer service.
Tyndall Federal Credit Union has served residents of the Florida Panhandle and Southeast Alabama since 1956 with secure, affordable, convenient, and fast financial solutions. As a member-owned nonprofit financial cooperative, Tyndall offers a full range of financial products and services to improve lives and strengthen our communities. We continually return value to our members through competitive deposit and loan rates and reduced fees.
AD Ports Group Signs Collaboration Agreement with Africa Finance Corporation
AD Ports Group, the world’s leading industrial, logistics and trade support company, has entered into a partnership agreement with Africa Finance Corporation (“AFC”), a leading infrastructure solutions provider. in Africa, to bridge the infrastructure gap on the continent.
This agreement allows the two organizations to join forces to identify, finance, develop and invest in much-needed port, warehouse, maritime and logistics infrastructure projects across Africa. Both parties will bring their technical expertise as well as strong financial capabilities and networks into a range of development initiatives, with a focus on green and brown opportunities.
AFC is an all-Africa multilateral development finance institution that aims to fill infrastructure investment gaps by providing complete project cycle financing solutions as well as engineering and advice. Over the past 15 years, AFC has invested more than $10 billion in infrastructure projects in 37 countries in Africa. The AFC developed and financed Africa’s first carbon-neutral industrial park, the Nkok Special Economic Zone, making Gabon the world’s largest veneer exporter, generating $1 billion in export revenue. a year and create more than 30,000 jobs.
This approach is replicated by the Arise platform in Benin and Togo. Most recently, AFC, in a joint venture with Masdar of the United Arab Emirates and EBRD, jointly acquired Lekela Power, the continent’s largest independent renewable electricity producer, with plans to double it double generation capacity within four years. AD Ports Group has significant expertise in the construction and operation of ports, free zones, logistics and maritime hubs, and is currently active in a wide range of development projects in diverse territories such as Jordan, Egypt and Iraq.
The partnership agreement could provide vital support to ports and maritime facilities in Africa, which are often overwhelmed by growing demand for imported goods and established industrial production facilities. Export orientation requires significant investment to modernize, increase capacity and improve productivity. According to an African Union (AU) report, cargo throughput through African ports will reach 2 billion tonnes by 2040, a major challenge due to the current average length of stay – the length of time that cargo is in transit. port – is about 20 days across the continent, compared to the global average of four days.
“Some of the world’s fastest-growing economies are in Africa, necessitating the creation of a new generation of ports and maritime facilities, supported by smart technology and enhanced freight infrastructure. We see a key opportunity to support African nations in their efforts to develop advanced trade hubs that can manage the rising volume of maritime commerce and deliver excellent connectivity. Working with AFC, we will look to prioritize projects that can make a lasting impact on the economies and communities of their respective nations, in line with the direction of our wise leadership to support progressive development.”
Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group.
“We are pleased to sign this collaboration agreement with AD Ports Group today, demonstrating the UAE’s ongoing enthusiasm to invest and deploy expertise in Africa. Combining AFC’s specialist expertise and outstanding investment track record with AD Ports Group’s technical proficiency, I am confident that our collaboration will yield the development of some of the most advanced integrated ports and logistics platforms in Africa and the world at large. We look forward to a continued partnership as we work together to unleash Africa’s economic potential and transform lives on the continent.”
Samaila Zubairu, President & Chief Executive Officer of AFC.
FINASTRA GLOBAL SURVEY SHOWS EVOLUTION OF OPEN BANKING AND GROWING APPETITE FOR OPEN FINANCE
Finastra research reveals that Open Banking is now seen as an important part of the banking landscape, with 99% of respondents seeing it as a “must have” or “important”, compared with 94% in 2015. last. The share of global financial institutions that consider it a “must-have” has increased to 61%, a notable increase compared to 2021 (51%).
“Financial Services”:
The State of the Nation 2022′ Survey indicates that views on open finance are also maturing with around 94% of financial institutions considering it a “must have” or “important” in the data-sharing landscape. (compared to 91% in 2021). Almost half (48%) of respondents now consider open finance a “must have”, a notable increase from last year (38%). The increase was significant in all territories but was especially pronounced in the United Arab Emirates (from 50% in 2021 to 71% this year), the United Kingdom (from 33% to 47%) and the United States (from 45% to 56). %). ). This shows that the industry globally is actively exploring products and services that will benefit from the ecosystem model.
About 85% of experts agree that open finance has made the industry more collaborative and has had a positive impact on the industry.
The study was conducted with 758 experts from banking and financial institutions from August to September 2022 in France, Germany, Hong Kong, Singapore, United Arab Emirates, the United Kingdom and the United States. Ky. It explores the Open Banking and Finance landscape, the technologies and initiatives expected to impact financial services over the next year, and the growing importance of ESG.
Other information includes:
Integrated banking (BaaS) and finance have become the industry standard – 83% of organizations agree that BaaS and integrated finance have been expected/required by customers. More than a third (35%) of the organizations surveyed have upgraded or implemented BaaS in the past year. A little less (33%) have implemented integrated finance.
Drivers of technology adoption remain consistent with previous years Growing our business (48%), meeting current and future customer expectations (45%), staying ahead of the competition (42%) and reducing costs (42%) are all key factors. Interestingly, half of the organizations (50%) now have all or most of their software repositories on cloud-based solutions, with another third (32%) split equally between cloud solutions. clouds and in place.
· Global financial institutions are cautious in technology investment; 82% of them note limitations compared to 2021. Despite the current uncertain economic situation and rising cost pressures, the majority (74%) predict that they will continue to fully invest by the end of this year, i.e. the end of the first half of 2023. Support for ESG is widespread – Nearly 9 in 10 organizations (86%) agree that it is important for the banking and financial services industry to support environmental, social and environmental initiatives. association and administration. In this regard, 82% of respondents agree that green loans offer growth and revenue generation opportunities, with the United Arab Emirates (94%) and Singapore (88%) ) showing the strongest interest.
“Finastra has always championed open finance as the key to unlocking the potential of people, businesses and communities everywhere,”
“Over the years that we have conducted this survey, we have seen open finance grow from an emerging idea to a clear priority for institutions across the world, enabling, as it does, business model shifts such as embedded banking, as well as financial inclusion and equality.”
Simon Paris, Chief Executive Officer at Finastra.
ALLICA BANK RAISES £100M SERIES C IN FUNDING ROUND LED BY TCV
Allica Bank, the leading fintech SME challenger bank, has announced a £100 million Series C funding round led by global growth technology investor, TCV, with participation from existing investors Warwick Capital Partners and Atalaya Capital Management.
Allica now joins TCV’s strong portfolio of businesses, which also includes household names like Airbnb, Netflix, and Spotify as well as fintechs that have revolutionized their respective industries including Brex, Mambu, Mollie, Nubank, Qonto, Razorpay, Revolut, Toast, Trade Republic, and Zepz.
With this fresh financing, Allica is now able to develop quickly and heighten its disruptive influence on the UK SME sector, building on the bank’s exceptional growth and its achievement of profitability in June of this year.
The only digitally native challenger bank in the UK, Allica is dedicated to offering established SMEs and business owners a full range of banking services, including loans, savings, and payments.
These established SME businesses typically have between 10 and 250 employees and makeup around a third of the UK economy – but are instead noticed by both big banks and other fintech companies. focus on consumers and micro businesses.
Allica has generated exceptional momentum in the three years since obtaining its banking license, ensuring continued growth and demonstrating its potential to transform the UK’s traditional SME banking market over the next decade:
- Spring 2022 – Allica was named Best Business Finance Provider at the British Bank Awards
- Summer 2022 – Allica reached £1bn of lending and monthly profitability, and successfully completed the migration of c. 2,000 SME customers acquired from AIB GB
- Autumn 2022 – Allica successfully launched its best-in-class Business Rewards Current Account, a current account designed especially for established businesses, with no monthly fees and great cashback offerings, fulfilling its commitment to be a full-service challenger bank
Allica delivers outstanding financial performance, demonstrating that their proprietary digital banking model is sustainable and highly scalable; Allica has been profitable in less than three years, and third-quarter 2022 revenue is up 743% year-over-year compared to 2021.
In November, Allica was named Commercial Bank of the Year at the annual NACFB awards – one of five categories the bank has won at one of the UK’s leading SME finance awards.
“From the moment we sat down with TCV it was clear we shared the same vision to transform SME banking in the UK, by taking on the mainstream ‘high street’ banking market”
“It’s a massive vote of confidence in the team we’ve built at Allica to attract backing from such a world-class technology investor under the toughest of market conditions, and this £100 million funding round will enable us to support far more of Britain’s established and growth companies, who have been underserved for too long.”
Richard Davies, Chief Executive of Allica Bank and former executive at HSBC and Revolut.
“Richard and team have built a truly impressive platform that is looking to solve a great need for UK-established SMEs, a highly complex segment to serve. TCV is laser-focused on partnering with market-leading companies seeking to leverage technology to transform industries. Allica is a prime example of this and we’re incredibly excited to collaborate with this strong team as they work to be the country’s leading digitally-native SME bank.”
Michael Kalfayan, Partner at TCV.
“We worked closely with Richard during his time at Revolut and are delighted to partner with him again to support Allica on this journey.”
John Doran, General Partner at TCV.
TEMENOS EXPANDS AGREEMENT WITH MBANQ TO ACCELERATE BANKING-AS-A-SERVICE IN THE US
Temenos announced that Mbanq, one of the US’s leading Banking-as-a-Service (BaaS) providers, has expanded its relationship with Temenos to accelerate BaaS adoption in the US.’
This agreement deepens cooperation between the companies following the launch of a joint credit union providing services last year (affiliate).
Temenos also made a small investment in Mbanq to enter the BaaS market that has seen explosive growth through integrated finance worth $7 trillion in market capitalization by 2030. BaaS enables any brand or FinTech to integrate relevant financial services in their customer journey with one modern platform. front-end and back-end technology packages.
Mbanq is the leading BaaS provider in the United States, one of the fastest-growing BaaS markets in the world. Mbanq targets brands in a number of industries such as Ivy League universities, top sports teams and celebrities by offering them comprehensive ‘as-a-service packages such as a trademark registration program, tags debits, credit cards, loans and payments. In addition, Mbanq has strong relationships with many partner banks that provide compliance banking and enable them to enter the lucrative BaaS market.
Temenos hybrid banking platform combined with Mbanq’s complementary technologies such as patented multi-currency and multi-asset digital wallets, on the one hand, bringing to the market a distinct BaaS offering for FinTech and brands and modern and compliant banking and payments. On the other hand, partner banks are regulated.
Temenos and Mbanq provide comprehensive BaaS infrastructure including regulatory support to get FinTech up and running in just a few months and with a cost-effective pay-as-you-go model. Consumer brands can integrate banking and payment services quickly and affordably.
This partnership opens up the possibility of targeting mid-sized banks in the United States, allowing them to not only launch BaaS services such as deposit, credit cards or Buy Now Pay Later, but also proof future-proof their technology stack by launching an incremental kernel. banking innovation. Temenos and Mbanq enable these banks to overcome the limitations of legacy technology by serving brands and FinTech at scale using modern API-driven, cloud-based technology. As a result, banks can avoid being left out by agile new entrants and can also open up new revenue streams.
“We are excited to expand our strategic partnership with Mbanq and deliver an end-to-end BaaS technology proposition. This move will extend Temenos’ target addressable market by opening up a new channel to offer BaaS services directly to consumer brands, an incremental market to our business.
“Temenos is offering a unique end-to-end BaaS proposition, which can power the technology needs of all BaaS ecosystem participants. Together with Mbanq we bring to market a unique combination of capabilities in embedded finance underpinned by broad and massively scalable functionality, combined with value-add services such as regulatory and compliance.
“Mbanq and Temenos have the opportunity to deliver this, and the increased and accelerated investments from both parties will leverage this market momentum. I expect this partnership to become one of the key sources of growth for Temenos in the very important US market.”
Max Chuard, Chief Executive Officer, Temenos.
“We are delighted to expand our partnership with Temenos. Powered by Temenos open platform, Mbanq expands its BaaS value proposition across the entire spectrum of embedded finance, from concept to delivery to operations. Mbanq enhances its technology stack to offer embedded finance at scale to any e-Commerce brand.
“This game-changing partnership will drive our company’s growth and help regulated and unregulated entities transform their offerings, technology and customer experiences in the digital post-pandemic world.”
Vlad, Lounegov, Chief Executive Officer, Mbanq.
OneConnect Announces ADS Ratio Change
OneConnect Financial Technology Limited, a leading provider of technology services to financial institutions in China, announced today that it will change the proportion of American Depositary Shares (“ADS”) that represent equities. ordinary shares from one ADS representing three ordinary shares to one ADS representing thirty shares of common stock. The rate change will take effect upon the opening of trading on the New York Stock Exchange on December 12, 2022.
For OneConnect ADS owners, changing the ADS ratio will have the same effect as a reverse ADS split from one to ten. There will be no adjustment to the Company’s ordinary shares. Unpaid ADSs on the Effective Date will be exchanged for new ADSs, with all ten existing ADS canceled in exchange for the issuance of one new ADS by the Supervisory Bank as of the Change date. effective rate. . OneConnect’s ADS will continue to trade on the NYSE under the symbol “OCFT”.
No new segmented ADSs were released as part of the change in ADS rates. Instead, a portion of the New ADS Rights will be sold by the Depository Bank and the net proceeds from the partial ADS Rights sale will be distributed by the Depository Bank to the relevant ADS holders, in each case. fit. The custodian bank then takes effect. the procedures and practices in effect and after any deductions set forth in the deposit agreement between the Company and the depository bank of ADS.
After the Rate Change, the price of the ADS will increase accordingly, although the Company cannot guarantee that the price of the ADS after the Rate Change will be equal to or greater than ten times the price of the ADS before the change.
STRATEGIC RISK ASSOCIATES (SRA) RAISES $12M IN SERIES B FUNDING LED BY EJF CAPITAL, JAM FINTOP AND FINTOP CAPITAL
The closure of a $12 million Series B capital raising was announced today by Strategic Risk Associates (SRA), a top supplier of comprehensive risk and performance management SaaS technology (WatchtowerTM) for the financial services and insurance industries. Along with longtime SRA client, Atlantic Union Bankshares Corporation and other existing investors, this round of funding were co-led by EJF Capital (“EJF”), through its affiliate the EJF Silvergate Ventures fund, JAM FINTOP, and FINTOP Capital.
“Financial Institutions need a panoramic view of risks that provide the board and executive management better oversight of their business and addresses the increasing regulatory burden and economic realities of today’s banking environment,”
“SRA’s vision is to help our clients improve hindsight, insight, and foresight into their organization’s risks and opportunities through advanced data analytics and continuous monitoring.”
Michael Glotz, CEO and Co-Founder of Strategic Risk Associates.
With decades of risk and compliance experience, the SRA team has built a reputation as trusted experts in helping financial institutions and insurers adapt to changing regulatory pressures. . This investment enables SRA to continue this work at scale with the powerful Watchtower™ SaaS platform and expands its suite of integrated risk services to support digital asset and Financial Technology risk management.
“EJF believes that the banking industry is undergoing a rapid evolution to a substantially more real-time data-driven future. Success will be predicated on managing enterprise risk through advanced tools such as Watchtower. These tools will help both banks and their regulators properly assess direct and indirect risks across the spectrum of their balance sheet,”
Jonathan Bresler, Managing Partner of the EJF Silvergate Ventures Fund.
“JAM FINTOP and FINTOP Capital believe SRA is uniquely positioned to become the leader in enabling banks to compliantly offer next-generation banking services,”
Joe Maxwell, Managing Partner of FINTOP Capital.
SRA works with hundreds of financial institutions across the US that are concerned about the current regulatory environment and the risks associated with the addition of modern products, such as digital assets. (crypto currency) and track their third-party vendors. The expansion of Watchtower’s Fintech Risk Management Suite will help banks and credit unions measure FinTech risk maturity, issue quarterly risk assessments, including issue management and monitoring Continuous monitoring through interactive dashboards and data visualizations to ensure they are mitigating risk, complying and complying with regulatory guidance.
Revio raises $1.1 million to “radically reduce failed payments and churn”
Cape Town-based Revio, a payments API company, has raised $1.1 million in an oversubscribed seed funding round to solve payment failures in emerging markets.
Led by SpeedInvest, with participation from Ralicap, The Fund, Two Culture Capital and strategic angel investors from Sequoia Capital, Quona Capital and Circle Payments, Revio says the investment will enable the firm to launch new products, expand the team and enter new markets. . This is Revio’s first round of institutional funding since its hidden release in March 2021.
Founded in 2020, Revio helps businesses reduce revenue loss due to failed payments and customer churn. With three core products, Payment Coordination, Invoice Automation, and Smart Collections, Revio enables businesses to offer multiple payment options, automate invoices, and manage customer churn. client. Revio also provides customers with full visibility with real-time customer segmentation and analytics dashboards to enable them to monitor live acquisition efforts and increase customer lifetime value.
According to Revio, the fragmented payments landscape in Africa, higher dispute rates, invalid or expired card details, false positive fraud checks and insufficient funds lead to the failure of up to 30 % of digital payments in Africa. The global average is 0.7%. According to a company statement, “An estimated $14 billion in recurring revenue goes uncollected each year, and the continent has a 320% higher churn rate than mature markets.”
“Having been part of multiple payment orchestration and billing automation platforms across the world, we can see the incredible potential of using this toolset to increase revenue recovery for businesses in a region where three out of ten payments fail. With a team as experienced as Revio’s at the helm of tackling this massive opportunity we’re convinced that they can fundamentally change the payments landscape for businesses in their target markets and are excited to be backing them on that journey.”
Alvaro Perezcano, FinTech Investor at SpeedInvest, Revio’s lead investor.
Since Revio started operations a year ago, the company says it has had a list of more than 50 customers. Revio’s corporate clients include insurance companies, telecommunications operators, retailers, subscription software and media companies, finance or rental companies, and alternative lenders. position. The company says its products have been popular with businesses with recurring revenue with high transaction volumes.
Revio’s API allows businesses to accept and reconcile over 30 payment methods. Including:
leading mobile money products, card systems, direct banking and wallets in 25 countries in the African market. The company plans to expand its services to Latin America.
“Customers are treated like gold when they are being acquired and like criminals when they fail to pay. We’re building a better collections system, where businesses can recover earned revenue while treating customers fairly and with empathy.”
Nicole Dunn, Revio’s COO.
“Revio is building a category-leading product to enable businesses to better manage their cash flow and accelerate growth”, adding that Revio “will play a critical role in contributing to the growth of subscription commerce and companies with pan-African scale.”
Revio investor, Hayden Simmons, partner at RaliCap Ventures.
“We have ambitions to build a global business that helps businesses reduce failed payments and recover the revenue they’ve earned. We know that growing a business is hard, but getting paid shouldn’t be. I’m excited to partner with our investor community to accelerate our growth and the value that we deliver to our customers,”
Ruaan Botha, Revio CEO.
Citizen partners with OpenPayd to boost real-time payments
European FinTech citizens have chosen an integrated financial infrastructure provider, OpenPayd, as their real-time payment service provider. The partnership will provide Citizen customer end users with a simplified payment experience through OpenPayd’s BaaS platform, which provides plug-and-play banking and payment infrastructure through a single platform. Unique API.
Founded by James Neville, former Worldpay CTO, James Neville, Citizen operates Open Banking to provide instant and simple cardless payments to merchants. The company is known for its acquisition and disposal of merchants, bypassing the traditional methods of no cards, codes and apps. To provide a better experience for its customers, Citizen needed an integrated financial infrastructure provider that could facilitate instant payments and provide a greater global reach than other merchants. other offers on the market.
The partnership with OpenPayd allows FinTech to assign a virtual international bank account number (vIBAN) to each customer and enables easier payments. OpenPayd’s infrastructure allows Citizen to issue clients with corporate accounts, and vIBAN provides real-time data alerts as soon as funds arrive in their accounts. The partnership is already in effect and available to Citizen’s multi-industry clientele.
“Through the collaboration of technical expertise, Citizen’s partnership with OpenPayd has opened up new product opportunities for us in even more locations across Europe,”
“By offering a more expansive range of solutions to our customers, such as bank account creation and eWallet functionality, Citizen is more than a simple payment method – we are truly a payments ecosystem.”
James Neville, CEO and co-founder of Citizen.
“Working with Citizen is another example of how versatile our BaaS infrastructure is,”
“Our broad and evolving technology suite can cater to any industry, any payment rail, anywhere. We’re looking forward to a long and successful relationship with Citizen, as they scale their offering and deliver a better payments experience to their clients.”
Iana Dimitrova, CEO of OpenPayd.
Allianz Trade to acquire remaining stake in Cosec from Banco BPI
Allianz Trade is about to acquire from Banco BPI a 50% stake in Cosec, a Portuguese trade credit insurer. Allianz Trade already owns 50% of Cosec and after the transaction will own 100% of the company.
Founded in 1969, Cosec (Companhia de Seguro de Créditos, S.A) specializes in commercial credit insurance. The company became a 50/50 joint venture between Allianz Trade and Banco BPI in 2007. Following regulatory approval, including an antitrust review, the transaction is expected to close in the first half of 2023.
“Cosec was already part of the Allianz Trade family, and we are delighted to welcome them as a full member of our Group. This is a major business opportunity and a new step in our growth strategy which will allow us to strengthen our presence in Southern Europe”,
Loeiz Limon-Duparcmeur, Group CFO and Member of the Board of Management of Allianz Trade in charge of Finance and Investment Management.
In addition to this acquisition, Cosec and Banco BPI will renew their partnership by signing a new distribution agreement upon completion of the transaction. This new agreement will continue the long and successful partnership between Allianz Trade and Banco BPI.
“This agreement will further strengthen the cooperation between Banco BPI and Allianz Trade for the distribution of credit insurance for companies. Our aim is to continue helping companies to trade with confidence, both in Portugal and in the global markets”,
Pedro Barreto, a Member of the Board and Executive Committee of Banco BPI.
Western Union And Beforepay Offer ‘send Now, Pay Later’ Service To Consumers For International Money Transfers
Western Union and Beforepay today announced an unprecedented partnership that will enable consumers to enhance cross-border remittances with access to affordable, ethical, and reliable short-term loans.
Consumers can “send now, pay later” by borrowing up to A$2,000 through Beforepay’s payday advance product on Western Union’s digital channels.
Exclusive information from Western Union research shows that up to 44% of Australian consumers want the “send now, pay later” option when transferring money globally. Today’s announcement means consumers will be able to do just that. By accessing Beforepay’s payday advance product through Western Union’s website and mobile app, customers will be able to increase the amount they transfer. Signing up to access additional funds can be completed in minutes and, once granted, can be refunded in installments. International money transfers via Western Union can be sent to more than 200 countries and territories.
“We are committed to supporting our customers and their communities by offering financial services that are accessible, ethical, and reliable,”
“Western Union’s mission is to make financial services accessible to people everywhere. Our collaboration with Beforepay is another step towards achieving this mission – giving customers the opportunity to access additional funds as they send money to families and communities. We are excited about the positive impact it can have for consumers, as they proactively look for convenient options to meet their financial needs.”
Gregory Laurent, Regional Vice President of Australia, New Zealand and the Pacific Islands at Western Union.
Financial services for everyone
Today’s announcement reinforces Western Union’s “Grow 2025” strategy to combine accessible, high-value retail and digital financial services. Avantpay’s payday advance product is designed to give customers the ability to meet temporary cash flow challenges. The average advance offered to customers by Beforepay is around AU$ 400. The total amount is refunded within an average of three to four weeks.
“We’re excited to collaborate with Western Union to support their customers with access to safe, affordable short-term lending,”
“Beforepay and Western Union share a vision of providing inclusive financial services to aspiring consumers around the world.”
Beforepay CEO Jamie Twiss.
IDT Introduces Zendit, A Global Prepaid-as-a-service Platform
IDT Corporation, a global provider of financial technology, cloud media and traditional media services, today announced the launch of its prepaid cloud platform as a service, Zendit. Zendit will be showcased at Mobile World Congress 2023 (MWC) in Barcelona, Spain, from February 27 to March 2.
With the Zendit platform, businesses of all sizes, entrepreneurs and developers will be able to easily add a powerful global monetization channel to their apps and websites – curated upfront offers from the global digital catalog of more than 10,000 goods and services, including mobile airtime. -ups, mobile data plans, digital gift cards and utilities.
“The rapid adoption of digital prepaid services in combination with the extensive reach of mobile – now over seven billion consumers worldwide – is fueling extraordinary growth in the global prepayments space,”
“Now, Zendit’s cloud-based, prepaid-as-a-service platform enables companies to participate in this high-growth opportunity by efficiently integrating cross-border prepaid offerings into their apps and websites in a matter of minutes.”
“Our mission is to enable businesses of all shapes and sizes to unlock new revenue opportunities by building innovative prepaid solutions that attract, engage, retain, and reward their customers worldwide,”
Emilio del Rio, President of IDT Digital Payments.
The Zendit platform can easily scale to meet the needs of businesses and organizations of all sizes while ensuring uptime and availability. It provides an intuitive and user-friendly workflow without sacrificing powerful features and flexibility. The platform will include a wide range of tools from APIs and SDKs to no/low-code add-ons and plugins allowing any developer to easily integrate upfront offers into systems and technologies. existing technology.
To improve speed and market reach, Zendit provides a seamless self-referral experience that streamlines the referral process, allowing developers to access and manage Zendit’s global prepaid portfolio in a few minutes. Developers can go to zendit.io, open an account, get login information, top up their wallet and get it up and running, all within minutes.
MWC attendees are invited to drop by the IDT booth at Congress Square Booth CS24 for a first-hand look and personalized demo of the innovative Zendit platform.
NEXI And JAKALA Announce CVM Martech Lab, The European Centre For Customer Engagement In Financial Services
Nexi, Europe’s Payment Technology, in partnership with Jakala, Italy’s leading Martech company, established CVM Martech Lab, the new customer value management center for the financial services sector, to provide giving banks and fintech better knowledge of data science and marketing. -how and technology to advance CVM, through solutions that leverage the key role of digital payments in customer acquisition.
Headquartered in Milan but with a European reach, CVM Martech Lab was born from the desire of two companies to share best practices for participating in the evolution of digital payments. for the benefit of banks and financial services institutions. Banks, fintech and industry players will be able to harness the significant economies of scale and scope guaranteed by the CVM Martech Lab while benefiting from the complementary tools and methods that the CVM Martech Labs use. Nexi and Jakala intend to integrate into the mix.
“Customer Value Management today has a strategic value in financial services for both traditional players and newcomers – for the former it is an essential acquisition lever, almost always as an investment in and subsequent development of customer value, while for the latter it is a key retention and loyalty driver. In this scenario, digital payments play a key role because they are, together with bank current accounts, the most widespread service, they are used on a daily basis and they carry useful data,”
“CVM Martech Lab aims to be a powerful accelerator to develop customer engagement at a systemic level. We at Nexi, after more than six years of work to develop multiple solutions for a large number of banks, have built up a wealth of experience and processes that, together with those of Jakala, represent a real value for Italy and we intend to export this value to Europe.”
Flaminio Francisci, Customer Value Management Director at Nexi.
In fact, more than 150 Italian banks now have access to the advanced CVM solutions and methods offered by Nexi and Jakala, resulting in the acquisition of valuable customers, services and products. High growth allows healthy customer value development through customers. lifecycle from acquisition to maintenance, including interactive programs.
Likewise, Jakala, with its combined marketing and technology know-how, has embarked on a specific path that the company has assembled in recent years with unique centers of expertise in the market. Italy and Europe.
“At Jakala we drive technological transformation and promote innovation through a mix of talent, technology, data and analytics. The success of any engagement program is closely linked to an understanding of its target market. We are proud of the partnership with Nexi, because it allows us to apply our know-how in the field of engagement, intervening in a key moment of the customer engagement process like digital payments. Indeed, in this process it is essential to implement a data-driven profiling approach and real-time interaction aimed at being relevant when it counts.”
Gabriele Pozzi, Managing Director of Jakala.
Thus, digital payments represent the best possible opportunity to attract customers, both because of the vast amount of data and information they carry, as well as because of their intergenerational nature and ease of use. their use. Nexi’s CVM Martech Lab enables organizations offering payment experience-based products and services to maximize customer value by engaging them through digital payments and developing innovative solutions. new business proposals aimed at the customers themselves.
Fiserv Named to Forbes America’s Best Employers 2023 List
Fiserv, Inc., a leading global provider of payment technology solutions and financial services, has been recognized by Forbes as one of America’s Top Employers of 2023, a prestigious ranking. The year was compiled in partnership with a market research company that reports highlighting the major employers of American workers. would recommend the most to others.
Forbes and Statista selected America’s Best Large Employer through a survey of approximately 45,000 Americans who work for companies with more than 5,000 employees. The ratings are based on direct and indirect referrals from employees who were asked to rate their willingness to refer their employer to friends and family. Employees were also asked about other employers in their industry that stood out in a positive or negative way. The final list ranks the top 500 employers that received the most referrals.
“As a global technology leader and an innovative, human-centered company, Fiserv is committed to creating a workplace experience that inspires our associates to be at their best every day,”
“We are especially honored to receive the recognition that reflects the voice of our associates, who have provided positive feedback about Fiserv as a great place to work.”
Frank Bisignano, Chairman, President and Chief Executive Officer of Fiserv.
Fiserv is a global fintech invested in local, human potential, and is committed to creating a work culture that is supportive, inclusive, and innovative, and to furthering the professional development and career growth of associates. The company takes a deliberate approach to help associates build and strengthen capabilities and provides opportunities for learning at every level, including learning focused on job skills, leadership development, diversity and inclusion, business acumen and more. Fiserv also provides a broad range of benefits and programs that support and enhance the company’s employer value proposition, help attract and retain talent, support diversity and inclusion initiatives, create equity, and provide local wellness programs and easier access to care.
To determine Forbes America’s Best Employers, employees were consulted anonymously through several online panels, allowing them to openly state their opinions and avoid influence from their employers. In addition to direct and indirect recommendations, employees were asked to give their opinions on a series of statements surrounding work-related topics, including working conditions, salary, the potential for development and company image regarding their current employer.
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.
Vietnam’s Fintech GIMO lands $5.1 million Series A
GIMO, a FinTech startup from Vietnam, has closed its Series A funding round with an investment led by TNB Aura.
Other investors in the round include Resolution Ventures, ThinkZone Ventures, Integra Partners, Y Combinator and Blauwpark Partners.
Founded in 2019, GIMO claims to strive to improve the financial lives of Vietnamese people in financial difficulty, first with a pay-as-you-go method.
Currently, nearly 500,000 workers from around 100 companies are receiving on-demand access to wages earned with GIMO, the company claims.
GIMO’s latest funding follows a year of significant growth. With 24x stable annual revenue growth and an 11x increase in transaction volume year-over-year, the company says it has delivered one of the most popular financial applications among Vietnamese workers. favored by financial hardship.
In 2021, GIMO secured a $1.9 million expansion seed round and is currently in the process of raising debt.
“The fresh capital will bolster our product innovation that appeals to the underserved workers and drive revenue growth. Our team has been incubating a suite of digital financial solutions and expects to launch in the months to come.”
GIMO CEO and co-founder Quan Nguyen.
San Fransciso-based technology company SendOwl pocketed $9 million in a seed funding round led by TheGP.
SendOwl provides the infrastructure to transfer, manage, protect, and collect payments for digital products.
Saudi Fintech Hala Acquires UAE Paytech paymennt.com
Hala, the fast-growing regional FINTECH based in Saudi Arabia, today announced that it has acquired, through its parent company, the United Arab Emirates Paymennt.com in the second edition of the world’s largest technology event – LEAP 2023.
Paymennt.com, formerly known as PointCheckout founded in 2017 and co-founded by Bashar Saleh and Tarek Ghobar, is a payment service provider, regulated by Abu Dhabi’s Global Market RegLab, and registered rooms in the United Arab Emirates and Jordan. Paymennt.com serves more than 2,000 micro and small businesses by providing them with a platform to support their offline to online journey as well as an integrated online payment solution and has successfully processed over 250 % of annual payments.
This acquisition will allow Hala to further enhance its product offerings by integrating online payments, allowing its SMB customers to enhance their online presence and multi-channel payment processing both. offline and online.
HALA has made great strides in the FINTECH industry since its inception in 2018, with a clear focus on serving SMEs. The company experienced significant growth in 2022, doubling its customer base and annual revenue.
It should be noted that this is Hala’s second acquisition since its inception, the first being Saudi Arabia’s acquisition of the startup “Fresh” in 2021, now known as Hala. cashier and now allows Hala to integrate non-financial additions. valuable services to its SME clients, a key pillar of Hala’s strategy to build a one-stop shop for SMEs.
“We are excited to welcome Paymennt team to our family to join us in executing our shared vision. The trigger was simple, we met smart entrepreneurs who share a similar vision and who are building a complementary product that clearly fits within our strategy. With more to come, this is our first endeavour outside our homeland and is the first block towards executing our global vision. We believe integrating the offering of Paymennt.com with that of Hala will provide a major added-value for our customers in Saudi and in UAE”.
Maher Loubieh, Co-Founder, HALA.
“It’s a privilege to join a key player in the region’s FINTECH ecosystem, one that shares our commitment and passion to cater to the needs of SMEs. We are very proud of what our team has achieved to date, having gained the trust of our merchants in processing their payments. Now, being part of the Hala family, we can better serve our customers and grow across the Middle East and beyond.”
Bashar Saleh, Co-Founder and Chief Executive Officer, Paymennt.com.