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PAYER AND AMERICAN EXPRESS PARTNER TO ACCEPT B2B PAYMENTS ACROSS THE NORDICS
Payer, the leading B2B technology company specializing in digital conversion, payments, and finance automation, with a mission to digitalize the B2B industry wherever payments play a central role, has announced that it will now facilitate American Express payments across the Nordics in Denmark, Finland, Norway, and Sweden. This means that companies using Payer as a B2B digital payments platform will now be able to accept American Express® Cards as a payment method for all purchases and services.
“Payer is excited to be partnering with American Express to provide our European B2B customers even greater payment choices when paying for goods and services on our B2B checkout, across a wide range of industries including manufacturing, automotive, consulting, and financial services. This aligns with our objective of being the preferred B2B Payments Service Provider across the Nordics and in Europe ”
Daniel Brännström Director of Partnerships at Payer.
“Partnering with payment providers like Payer makes it easier for American Express to be accepted at more locations; this is particularly important in the growing B2B payments space. It also means that Cardmembers can use their Cards in even more places and have an even greater choice of where they can use their Card”,
Keith McDonald, Vice President, Payment Facilitation & Small Merchant Partnerships.
The Swedish fintech company Payer was founded with the intention of challenging how companies conduct business. With plug-and-play solutions to increase digital sales and lower costs in the CFO’s office, its B2B digital platform offers value throughout the Order to Cash process. Payer supports customer onboarding by providing digital payment and checkout options in addition to fast risk and credit judgments. American Express Card Members can now pay their invoices with their American Express Card thanks to Payer’s Accounts Receivable Automation service and invoicing solution.
Ashman Bank partners with nCino to bolster its tech platform, after being awarded first UK banking licence of the year
nCino, Inc., a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced its partnership with Ashman Bank, a new entrant bank with plans to transform the banking experience for UK property SMEs, a £90bn market opportunity. Ashman Bank, which was awarded the UK’s first new banking license in 2022, has selected nCino’s Bank Operating System as its foundational technology for its life cycle property finance solution, from refurbishment right through to development and investment.
Over four-fifths (84%)[2] of SMEs in the commercial real estate sector are dissatisfied with the industry’s delayed decision-making and rigid credit options. Ashman Bank seeks to change this with its digital-first and cloud-based approach to commercial real estate financing. By putting nCino into practice, Ashman Bank will provide goods and services that give people the information and incentives to develop the sustainable structures and practices of the future. This will also make it simpler for SMEs to access the appropriate financing for their requirements, delivered quickly, automatically, and specifically.
“Partnering with nCino takes us one step closer to being able to transform the banking experience for property SMEs,”
“nCino gives us the best and most efficient platform for us to realize our ambitions as a digital-first bank, and we believe that together we can create a meaningful change in the UK real estate market.”
Caroline Luxmore, Chief Commercial Officer at Ashman Bank.
“Ashman Bank is an ambitious new entrant that will provide real estate lending for conscientious businesses in the UK. It is bringing an innovative approach to commercial real estate, and nCino can help the Ashman team execute, grow and adapt as the bank expands,”
“We’re proud to be playing a role in Ashman’s launch.”
Charlie McIver, Managing Director, EMEA at nCino.
PAPAYA GLOBAL TEAMS UP WITH J.P. MORGAN TO DELIVER GLOBAL PAYROLL PAYMENTS AT REMARKABLE SPEED
Papaya Global, the leading global people management platform for the remote working era and already known as a payroll technology innovator, has announced today that it is now poised to further extend international payments through cutting-edge technology with the integration of J.P. Morgan’s payment processing products and solutions that could transform Papaya’s global payroll enabling clients with fast, seamless, compliant and secure payments delivery to any region for companies that have global workforces.
Papaya’s additional coverage capabilities strengthen its market-leading position in providing global payroll. Papaya now offers wide international payroll payments coverage in more than 100 countries as a result of its recent acquisition of payment remittance technology startup Azimo. With the help of J.P. Morgan payment processing products and solutions, Papaya’s fully automated and transparent software solution can now securely and visibly implement payroll and payments, surpassing prior restrictions and giving employees a more consumer-like experience.
“We believe this partnership coupled with our extensive licensing enables the Papaya Global platform to deliver payments at unmatched velocity compared with other market solutions,”
“The future of payroll hinges on employee expectations and the future of work is remote. Teaming up with J.P. Morgan, Papaya’s platform and innovative solutions are empowering companies to pay workers no matter where they are. Organizations can hire and then pay the best global talent without any restrictions, which results in higher levels of satisfaction for both employers and employees. Papaya is pioneering payroll and payments to match the expectations and business needs of a remote and global workforce.”
Eynat Guez, Papaya CEO and co-founder.
“We’re delighted to have worked with Papaya Global over many months to refine this solution, and we’re now very happy to extend our payments products as they look to create a fast and seamless payroll processing experience for their clients,”
Efrat Laor, Head of J.P. Morgan Israel Corporate Banking.
Bitpanda won the largest digital bank in continental Europe as Bitpanda White Label partner: N26
N26 Crypto, which has been developed in partnership with crypto custodian Bitpanda, will initially be rolled out in Austria before being expanded to other key markets over the next six months.
According to N26, the launch has been inspired by the strong local demand for crypto with 40% of its users either actively trading or expressing strong interest in crypto investment.
“While cryptocurrencies have seen a decline in value over the last year, they remain a requested and interesting asset class for investors and a growing part of the financial system.”
N26 co-founder and Co-CEO, Valentin Stalf.
Thanks to our innovative White Label Solution we introduced last year, Bitpanda has made it possible for fintechs, traditional banks and online platforms to offer their customers a fully digital investment offering of their own. Today, we’re excited to join forces with N26, the largest digital bank in Continental Europe, and give its customers access to crypto trading.
Through this agreement, two of the DACH region’s top fintech companies join forces to achieve their common objective of giving everyone easy, secure, and practical access to their funds. Users of N26 can now invest in nearly 200 cryptocurrencies using Bitpanda’s White Label Solution for as little as €1, depending on their financial situation and level of risk tolerance.
nCino and IBM Complete Successful Go-Live of Tokyo-based Kiraboshi Bank
nCino, Inc., a pioneer in cloud banking and digital transformation solutions for the global financial services industry, announced that Kiraboshi Bank, a regional bank based in Tokyo, Japan, is live on the nCino Bank Operating System. The JPY 6,361.4 billion-asset Bank implemented nCino’s Commercial Banking Solution to enhance its business financing, part of its journey to create a single, cloud-based platform to better serve its business clients. The implementation was successfully led by IBM Japan, due to their in-depth knowledge of the industry and track record of introducing specialized solutions to the region.
The Bank required a solution that would streamline internal operations, eliminate manual obstacles, and automate processes. Employees of Kiraboshi Bank organise numerous complicated agreements involving multiple institutions and needed a single, cloud-based platform to address the various issues of their clients. With the help of the nCino platform, Kiraboshi will be able to better serve their customers by giving their bankers a quicker response and more streamlined experience.
“IBM Japan has been supporting the digital transformation of financial institutions in the banking industry for many years. We are very pleased that we were able to contribute to the successful implementation of the nCino platform at Kiraboshi Bank and look forward to helping more Japanese financial institutions shift their lending operations to the cloud.”
IBM Japan’s Yuji Sonku, Senior Partner, Financial Services, IBM Consulting.
“Supported by nCino’s best-in-class software, Kiraboshi will contribute to the local community by providing comprehensive financial services to small and medium-sized enterprises (SMEs) and individual customers in Tokyo. By improving efficiency and strengthening its risk management system through a 360-degree customer and portfolio view, the Bank will be positioned for success for years to come.”
“We’re extremely proud of the work we’ve done alongside IBM Japan,”
Itsuki Nomura, GM of nCino’s Tokyo office.
InsurTech bolttech secures Series B funding
bolttech, one of the world’s fastest-growing international InsurTech companies, announced Tokio Marine, alongside other shareholders, will lead bolttech’s Series B funding round.
One year after closing the largest Series A funding round ever for an InsurTech, the investment values bolttech, Singapore’s own native InsurTech unicorn, at an up-round valuation of roughly $1.5 billion.
Bolttech’s strengths and market reach will be complemented by Tokio Marine’s role as a strategic investor, increasing distribution power, product innovation, and balance-sheet capacity. The Series B revenues will be primarily used to support the company’s ongoing international expansion.
“Securing a lead investor of Tokio Marine’s high caliber and esteem is a strong validation of international investors’ belief in the resilience of bolttech’s business model, our long-term value proposition, and our role in shaping the future of insurance distribution. Tokio Marine will be a pivotal strategic partner as we continue to accelerate our growth strategy and global expansion.”
Rob Schimek, bolttech’s Group Chief Executive Officer.
“Tokio Marine is excited to have the opportunity to lead bolttech’s Series B round, and join bolttech on its incredible growth trajectory as their strategic partner. The scale and breadth of bolttech’s platform, coupled with its industry-leading tech and digital capabilities, and extensive insurance experience, uniquely positions the company as a clear leader within the InsurTech space. We look forward to working with bolttech to take advantage of the commercial opportunities our new strategic partnership will offer.”
Masashi Namatame, Managing Executive Officer, Group Chief Digital Officer.
One of the top embedded insurance providers in the world, bolttech is a B2B2C insurtech company that uses its innovative insurance exchange to link insurers with distributors and their clients. Bolttech’s platform offers companies inside and outside the insurance industry everything they need to offer insurance products to meet their customers’ evolving insurance and protection needs in the digital age. Bolttech’s platform has licenses to operate in more than 30 markets throughout Asia and Europe and all 50 U.S. states. Through this connectedness, bolttech’s partners may speed digital transformation, strengthen customer interactions, and rethink existing business models to create new revenue sources.
OKX partners with Pyth Network
OKX, the world’s second-largest cryptocurrency exchange, today announced that it is partnering with Pyth network, a next-generation Oracle solution built on the Solana blockchain and designed to provide trusted and verifiable market data to decentralized applications.
“Given the recent liquidation events in DeFi, we understand that a high-performance, robust and low latency market data oracle service is crucial in developing financial products in DeFi. The Pyth network, with sub-second latency and its rapidly growing network of highly respected data partners, is an example of this exciting potential.”
Lennix Lai, OKX Director of Financial Markets.
Pyth runs one of the biggest and most dependable oracle networks, obtaining price information from more than 70 top organizations in both traditional and cryptocurrency finance. Pyth uses the Wormhole messaging protocol to gather and publish data at sub-second rates, making it accessible across blockchains. The DeFi ecosystem now relies on Pyth Network as the most dependable source of financial data.
“OKX has firmly established itself as a leading global crypto exchange known for innovation and security. Their commitment to DeFi and Web3 resonates with Pyth’s mission of promoting more efficient on-chain markets and we look forward to partnering with them on this journey.”
Michael Cahill, Director of the Pyth Data Association.
REMITLY MAKES VISA DIRECT REAL-TIME PAYMENTS PLATFORM AVAILABLE TO CUSTOMERS IN CANADA
Remitly Global, Inc., a leading digital financial services provider for immigrants and their families, today announced the expansion of its relationship with Visa by making Visa Direct, Visa’s real-time push payments platform, available to Remitly customers in Canada.[1] According to the World Bank, more than $6.5 billion in personal remittances are sent annually from Canada. Now, Remitly customers in Canada will be able to send funds to eligible recipients in more than 100 countries around the world with a broader array of payout options that will now include Visa cards, in addition to the pre-existing bank account, digital wallet, and cash payout options.
“At Remitly, we know that remittances are global, but customers are local,”
“Our commitment to our customers compels us to understand and deliver locally relevant payment options to our customers around the world. We are proud to add Visa Direct as an additional option for our customers in Canada as we move toward our vision of becoming the most trusted financial services provider for immigrants and their families.”
Milkana Brace, VP of Global Disbursement Network, Remitly.
“Remittances are a lifeline for the 250 million migrant workers around the world who rely on this service to quickly and securely move money to their families,”
“With this collaboration with Remitly, we’re unlocking new opportunities to help give Canadians more choice and flexibility to digitally send funds around the world.”
Jim Filice, VP and Head of New Payments, Visa Canada.
Remitly users can now send money via Visa Direct from 18 countries to bank accounts in more than 100 countries as a result of the expansion of their partnership with Visa, which began in March 2020. By simply entering the recipient’s name and 16-digit Visa debit card number, customers of Remitly can send money overseas directly to bank accounts.
Eni In European Partnership With Nexi For The Development Of The Company’s Electronic And Digital Payment Services
Eni and Nexi announce that they have signed an agreement to develop innovative electronic and digital payment services for Eni and Eni’s companies in Italy and Europe.
The partnership implies that Nexi will be Eni’s key partner in the development of existing payment services, as well as in the identification and implementation of new solutions to support the energy company’s operations. quality, especially sustainable and fulfilling mobility. To this end, companies will pool their cutting-edge expertise in their respective markets.
This partnership will allow Eni to improve the customer experience of its customers and take advantage of future opportunities arising from the development of payment systems and relevant regulations at the European level.
In turn, Nexi will benefit from the opportunity to work with Eni to develop new business synergies and solutions, while continuing to provide and improve its digital payment services for the energy companies.
GSS partners with Silent Eight to deliver sanctions screening for financial services
Global Screening Services (GSS) and Silent Eight have announced that following a competitive selection process, Silent Eight’s flagship AI technology will make punitive decisions on the GSS platform.
By implementing Silent Eight’s (Iris) machine learning platform, GSS will evaluate false positives and detect real potential risks faster.
The result will be a significant improvement in sanction screening; both to prevent sanctioned individuals from transferring funds and to expedite the millions of legitimate international payments that are delayed each year.
The GSS model offers a significantly simplified process using technology that leverages a centralized filtering platform, including Silent Eight’s artificial intelligence engine, to provide significant benefits in terms of governance. handle the complexity of filtering millions of transactions and duplicating efforts between financial institutions. The GSS platform significantly reduces obstacles for bank customers, speeds up transactions and improves and sets new standards.
“Sanctions screening is both an international security imperative and a material source of friction in the global financial system. Our collaborative solution creates a new standard for transaction processing that improves standards and tackles friction. We’re delighted to be partnering with Silent Eight to bring its adjudication platform into our ecosystem to help address this global challenge.”
Tom Scampion, CEO of GSS.
“We are proud to be joining forces with GSS to help drive a permanent paradigm shift in the global fight to stop illicit payments and financial transfers. Working together, we are striving to detect and stop ‘bad money’ more quickly and efficiently, while speeding the flow of legitimate transactions through the global financial system. This is the promise of GSS and we are delighted to support them in their mission.”
Martin Markiewicz, CEO of Silent Eight.
Global Screening Service (GSS), a RegTech innovator focused on financial transaction screening, has for the past two years partnered with financial institutions around the world to create a collaborative approach new to compliance, initially focusing on sanctions screening. In October, a partnership with SWIFT was announced, which will provide data privacy and security expertise, as well as support specific sanctions.
Digital bank Zopa raises £75m to accelerate growth
Digital bank Zopa has raised £75 million in funding to drive its next phase of growth. Led by existing investors, the deal strengthens Bank Zopa’s unicorn position. This funding will be used to meet Zopa Bank’s growing balance sheet capital requirements and to support mergers and acquisitions that could begin as early as this quarter.
Despite economic uncertainty, London-based Zopa has continued to grow revenue by more than 100% year-over-year, thanks to the continued expansion of its range of tech-focused financial products number.
“Today’s equity round reaffirms the support of our investors despite the challenging economic environment. It is a clear validation of Zopa’s responsible, sustainable, and profitable approach to lending, our strong unit economics, and our vision to build Britain’s best bank.
“We are happy to have investors who share our excitement at the opportunity to serve more customers across more product categories. This has already led to several profitable months in 2022 and will very likely convert into full-year profitability in 2023 for the first time,”
Jaidev Janardana, CEO at Zopa.
Zopa Bank draws on the best of traditional and digital banking, combining its digital capabilities with 17 years of lending experience and £8 billion in approved personal loans. Browser.
Having obtained a UK banking license, Zopa adheres to the same standards as high street banks for customer protection. For example, its deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000.
Since launching in 2020, Zopa Bank has attracted £3 billion in deposits, more than £2 billion in loans on its balance sheet and issued more than 400,000 credit cards. It currently has a rating of 4.6/5 on Glassdoor, one of the highest employee satisfaction scores in the UK FinTech industry.
Stubben Edge Group Secures Further £5.6m Growth Capital At £175m Pre-money Valuation
UK-based FinTech Group Stubben Edge (the Company) today announced that it has received an additional investment of £5.6 million. This round was again oversubscribed and well received by existing and new shareholders, giving the company a pre-fund valuation of £175 million and a 75% increase over the funding round. before. This further demonstrates investor confidence in the Group, which has recorded revenue growth of more than 400% in 2022 and expects similar growth this year.
Since the last funding round in September 2022, the company has continued to execute an ambitious growth strategy, expanding and diversifying its offerings while capturing a larger market share in the value chain. insurance reflected in the acquisition of specialists in the insurance market in London and abroad. Helodrium, Joint Underwriting Management Company (MGU) Cedar Underwriting Company (both subject to regulatory approval) and brokerage distribution platform provider Insurercore, the acquisition has been announced to investors and shareholders in November 2022.
To date, Stubben Edge has raised more than £20 million. Platform investors include some of Lloyd’s names, including Nigel Wray, Dowgate Wealth, family offices, institutional investors, and other HNW investors.
“Amid the broader economic environment and loss of confidence in the FinTech market, this fundraising is a testament to the strength of our business.
In 2023, our ambition remains to support entrepreneurs and owners of brokers and IFAs. Help them grow their businesses by providing technology, data, and products that enable them to serve their SMB customers more efficiently and profitably, where and when their customers want to interact.
We continue to challenge the Financial Services industry, a slow adopter of technology which is both arbitrary and unbalanced. We believe that against the current economic environment, it is particularly important to empower brokers and IFAs to provide better value-for-money, security and confidence for customers and their families while building long-term business success.”
Chris Kenning, CEO of Stubben Edge.
“We were delighted to participate in Stubben Edge’s fundraise once again. The company’s phenomenal growth in 2022, in the current difficult economic climate, showcases that Stubben Edge has enormous growth potential. We believe that Lloyd’s and the insurance industry generally are ripe for disruption and reform and that Chris Kenning and the team at Stubben Edge are well-positioned with their strategy and products to take full advantage of the opportunity in 2023. We’re excited to see them execute their ambitious plans and look forward to continuing to work with them on their journey.”
David Poutney, Chief Executive of Dowgate Capital.
Barclays presents flexible banking strategy
Barclays announced a strategy to expand its flexible banking formats, as it evolves its physical footprint to meet changing customer needs.
Barclays Local offers live banking support in community locations and new banking modules across the UK.
The plans include:
- Expanding Barclays Local by over 70 sites in 2023, in addition to 200 opened in 2022
- This includes entering new locations without an existing Barclays presence
- Launch of new banking pods: purpose-built, semi-permanent structures in sites such as shopping centers and retail parks
- Commitment to provide alternative in-person service in communities when a branch closes
- Scale Barclays’ ‘Cashback without Purchase’ service across the UK, plus investment in industry solutions via the Cash Action Group (CAG)
- Barclays continues to adapt its physical footprint in response to declining customer branch usage, alongside the increase in customers using digital channels to the bank. Across a range of different solutions,
- Barclays will provide in-person banking support through a flexible format, including branches, under a new sustainable model reflective of customer needs and usage.
Barclays already has the largest network of alternative agency formats – Barclays Local – with 200 locations by the end of 2022. Barclays will open 70 more in the first half of 2023.
Under this model, the bank works with local councils and communities to organize a presence in places like town halls and libraries, providing direct banking support. Local Barclays colleagues provide one-on-one support, helping clients with their day-to-day financial and money management needs. Each Barclays Local also offers free digital skills workshops and fraud and scam awareness events to the community.
Currently, this format provides a way to stay where there is no longer enough demand to support a traditional branch. The model will now be extended and rolled out to areas where Barclays does not have a presence, allowing the bank to directly reach more customers.
In another first, Barclays will roll out banking modules as part of its Barclays Local service. The semi-permanent structure provides dedicated private spaces in locations such as malls and retail parks and can be moved as needed. At least 10 modules will be rolled out across the UK by the summer of 2023 following the success of the bank’s first module in St Austell. Additionally, six electric bank vans (EVs) will be added to the existing 10-car fleet, allowing Barclays to reach customers in remote locations.
Barclays will continue to review its physical sites – including branches, groups and pop-ups – based on usage, with a flexible approach allowing the bank to tailor its presence to better suit the needs of the local community.
The decline in the number of people using traditional branches prompted Barclays to find a new alternative physical format that would appeal to and resonate with all customers. In addition, Barclays is committed to maintaining an alternative in-person presence in the communities* where it is closing branches, based on its existing program.
“Barclays Local provides a flexible way to reach customers in new locations and retain a presence where customer footfall has reduced, bringing face-to-face support to convenient locations. As visits to branches continue to fall, we need to reimagine where and how we show up to provide the best service for customers now and in the future. Our new banking pods and community pop-ups help us to tailor our in-person support for each location, including support with digital skills. In areas where we close a branch, we will maintain our presence in that community offering an alternative face-to-face solution.”
Jo Mayer, Head of Everyday Banking at Barclays UK.
As part of initiatives to protect long-term cash access, Barclays will expand its Cash Back on No Purchase service, launching in 2022. The service has spawned new locations. for consumers to withdraw cash for free, through thousands of small businesses across the country. Barclays is also one of the driving forces behind the Cash Action Group (CAG), which includes Industrial Banking Hubs – a common space for major banks to operate one day a week.
Worldline signs multi-year agreement with ING
Worldline, a global leader in payment services, announces the expansion of its partnership with ING Bank N.V., the international Dutch bank. Worldline will handle the issuance and processing of debit and credit cards for ING in select countries, based on signed agreements over a period of years.
As part of the expanded agreement, ING is outsourcing its release processing operations to Worldline. Leveraging its technology and know-how, Worldline will help ING focus on its core business, supporting the bank’s growth ambitions.
ING conducts its card issuance operations in a number of countries around the world and outsources issuance services to its operations. Outsourcing these services allows banks and other financial institutions to better focus their businesses on adding value to customers, reducing operating costs and maximizing resources. force. By partnering with Worldline, ING can count on high-quality card issuance services backed by state-of-the-art technology, lower operating costs and state-of-the-art capabilities. This enables ING to offer its customers a wide range of issuance solutions that are fully compliant with all regulations, locally and globally.
“ING and Worldline have been partners in various countries for over three decades. We are very proud that ING is not only prolonging this partnership but also extending the number of countries and services. By outsourcing card issuing processing services to us, ING can focus on creating value for their customers by re-inventing digital journeys. This agreement highlights Worldline’s unique position in being able to support banks in their outsourcing strategy. Not only the Netherlands but across Europe – and beyond.”
Alessandro Baroni, Deputy Head of Financial Services at Worldline.
Trustly completes acquisition of EcoSpend and becomes UK’s first open bank payments company
Trustly, the global payments platform for account-to-account (A2A) digital transactions, today announced the close of its acquisition of UK-based Open Banking payments platform EcoSpend UK, after being approved by the FCA. Trustly and EcoSpend together become the leading Open Bank payments company in the UK, providing connectivity to over 80 banks and reaching around 50 million consumers.
The UK is one of the fastest-growing A2A markets in Europe and a key growth market for Trustly. EcoSpend’s robust UK payments and data services, such as identity and affordability solutions, combined with the UK’s comprehensive banking connectivity, make it becomes a strategic addition to Trustly’s debt collection capabilities and cross-border reach. The combined entity is well positioned to offer an attractive product in the UK, accelerating its market expansion, as well as in the rest of Europe.
Features together, Trustly and EcoSpend will include:
- Connect the market-leading bank with more than 80 banks in the UK
- Broad consumer reach with over 50 million UK consumers
- Payment volume stronger than £7.5 billion in the UK for 2022
Many of Trustly’s UK customers have benefited from working with and using EcoSpend’s Open Banking technology solutions.
“We are very excited that we have now officially closed the acquisition. This is an important milestone and is fully in line with Trustly’s ambitious target to be the game-changing market leader in the UK. We can’t wait to continue our expansion journey as a collective team, bringing best-in-class Open Banking solutions to both consumers and merchants”
Johan Tjärnberg, Group CEO of Trustly.
Regtech Salv raises €4m
Salv, a regtech startup founded by a group of former Wise and Skype employees, has raised €4 million in an expansion round led by ffVC and with participation from G+D Ventures.
Salv Bridge is a real-time crime-fighting collaboration platform that uses the collective power of the network to reduce non-compliance and financial crime.
The GDPR-compliant platform enables collaborative investigations between financial institutions by opening a direct line of communication – allowing them to exchange and supplement data about potential threats.
According to Salv, this helps network members resolve fraud cases in minutes, not days. To date, FS companies in the network have prevented between 6 and 7 million euros from accessing accounts controlled by criminals.
“The funds allow us to add further functionality to our modular AML toolset and expand to new markets, helping more companies greatly improve their crime-fighting measures and thereby protect their end-customers.”
Taavi Tamkivi, CEO, Salv.