THE Fintech Times’ bi-monthly news roundup Take a look at the latest fintech stories from around the world on Thursday July 18, 2024.
Appointment
Money flow, a cloud platform for global card processing, has named Dagmar van Ravenswaay Claasen as Chair of its Supervisory Board. The board was launched earlier this year to support Silverflow’s growth strategies, as well as provide insights into industry needs, solutions and the future of paytech. She has held leadership positions at The Dutch Bank, before joining Adyen as Director of Regulatory Affairs.
TBC Banking Group PLC appointed Constantin Kruglov as Head of Artificial Intelligence at To be confirmed Uzbekistanits fintech arm in the Central Asian country. His role includes creating an AI-powered virtual assistant to improve customer experience on TBC interfaces, as well as leveraging AI-powered technology to optimize customer support, sales and other operations.
Evidence-Based Investment Firm The capital of sparrows announces the appointment of Arnie Millington to oversee its tailor-made MPS proposition for wealth managers – Capital of Sparrows MPS. Millington has been joining the firm since Seven Investment Management (7IM)where he was responsible for maintaining and building relationships with advisers and financial planners across the Midlands and North West. He has over 10 years’ experience in the advisory and wealth management sector, having held previous roles at Reference capital And AJ Bell.
Fintech QuantumFy appointed Nexhat Salihu as a project manager. Salihu has been joining since BPC Banking Technologies, where he held the position of Senior Project Manager. In this role, he provided payment services consulting and managed the end-to-end implementation of numerous projects, serving fintechs, banking partners and acquirers across Europe.
More hiring
Book, a provider of global mobile payment solutions, has appointed Rob Whittick as the new CFO. He joins the company after 25 years at Natwest Groupwhere he held several leadership positions. Boku’s global payments network now includes over 300 local payment methods worldwide, reaching over 7.5 billion consumer payment accounts in over 90 countries
Well, an Australian expense management platform, has promoted Damon Hauenstein Hauenstein joined Weel in 2022 as its first CFO.
Partnerships and collaborations
NewDay, a provider of unsecured consumer credit in the UK, has launched DoNewDay’s open banking connectivity and transaction categorization products. This approach to providing deeper accessibility assessments promotes responsible access to credit and financial inclusion. NewDay customers can share their transaction data via open banking for a real-world accessibility assessment.
KYAX, a financial reporting tool on digital assets, the Association of National Numbering Agencies (ANNA) and the Digital Token Identification Foundation (DTIF) have joined forces to accelerate the implementation of the ISO 24165 Digital Token Identifier (DTI) and ISO 6166 International Securities Identification Number (ISIN) standards. This collaboration aims to improve the transparency and efficiency of regulatory reporting.
THE Ajman Transport Authority United Arab Emirates has partnered with BPC, a payment solutions company, to become the first authority in the UAE to implement modern payment technology in public transport buses, enhancing smart services in the transport sector, through the introduction of O-CITY, a smart city and mobility solution developed by BPC.
Capital at your fingertips announces renewed multi-year agreement with GDS link, Capital on Tap uses its decision-making platform to support and complement Capital on Tap’s proprietary risk models across its UK and US operations. As it grows, Capital on Tap will leverage its partnership with GDS Link to enhance its automated risk decision-making processes.
Chelsea FC unveiled a pre-season partnership with Skrillthe digital wallet powered by a global payment platform Paysafe. Skrill will be the presenting partner of its opening match against Football. The company enables consumers and businesses to transact using 260 payment types in more than 40 currencies around the world.
Financing and investments
British Business Investment (BBI) further committed to Claret Capital Partners Limited, with a new co-investment fund. The fund will invest in small, high-growth technology companies across the UK. BBI, a wholly-owned commercial subsidiary of British investment bankaims to improve access to alternative finance for UK small businesses, whilst supporting the transition to a net zero economy.
good god, a provider of digital business accounts for SMEs, has secured $5 million in Series A funding in growth funding, as well as an EU Electronic Money Institution (EMI) license FIN-FSA (the Finnish Financial Supervisory Authority), positioning the company for accelerated growth across Europe. The latest funding round brings wamo’s total funding to $11.8 million.
Company Updates
Tandem The bank approved £650m of new loans for green and ‘go green’ home improvement projects. The bank also saw its customer base grow to over 300,000, its deposits more than double for a second year running to over £3.6bn and it made a profit for the second year. In addition, its Green Hub has seen over 200,000 visits since its launch and over 1,700 personalised Green Home Plan journeys have been fully completed.
Copper.co, Copper, a leading digital asset custody, collateral management and services company, has been granted a Trust or Company Service Provider (TCSP) license in Hong Kong. This license, granted by the Hong Kong Companies Registry, represents a key milestone in Copper’s expansion into the global market and its compliance with the regulatory framework and international standards.
Meridiana U.S. holding company focused on the global payments, customer relationship management and banking services industry, has announced plans to go public on the New York Stock Exchange. In addition to other strategic acquisitions, Meridien will acquire a 27% stake in the fintech company DKK Partners, which has offices in Dubai, to strengthen the group’s capabilities. As part of the agreement Meridien Holdings and DKK Partners have forged a strategic alliance to complement their business plans by securing global payments, acquiring, banking and FX liquidity capabilities.
Salt borderopen banking solutions provider, recently launched its 6th version of the Open Banking Gateway API. The company is first releasing its latest version of the Account Information API, with the Payments API to follow shortly. This latest update follows the successful launch of API V5 in 2019.
Lent has expanded its Quik delivery service to include a wide range of electronics in the UAE, available for delivery in under 60 minutes in Dubai and select areas of Abu Dhabi. Customers can now purchase the latest iPhones, tablets, gaming accessories, wearables and more through Quik Electronics on Careem.