Welcome to The Fintech Times Bi-Weekly News Roundup on Thursday 4 July 2024 bringing you the latest updates from across the world..
Industry hires
Paymentology, the global issuer-processor, appoints Stephen Bowe as chief product officer. With 15 years-plus experience in banking and payments Bowe joins Paymentology’s leadership team to drive innovation in the company’s payment products. He previously served as director of digital experience and innovation at Nationwide Building Society, and has worked with NAB, The Bank of New Zealand and Worldfirst.
Azentio Software, an end-to-end software company specialising in the banking, financial services and insurance sector, appoints Aarthi Ramesh as chief customer officer as well as Emma Foley as chief marketing officer. Azentio has more than 800 customers in more than 60 countries.
Cloud accounting software provider iplicit welcomes Paula Cooper to head of its channel reseller programme that is central to its continued hypergrowth. Cooper spent 18 years with Sage, specialising in channel partnerships. Earlier this year iplicit announced it would ‘double down’ on its investment with channel partners to ensure continued exponential growth into 2025 and beyond.
S64, the alternatives fintech and solutions partner to the wealth management industry, has appointed Matt
Stovold as head of Australia and New Zealand. This strategic move follows a year of growth in the region and will further bolster S64’s Asia-Pacific footprint. Stovold will lead the next phase of S64’s growth in the region and the expansion of its Australia Unit Trust products and front to back technology platform.
Partnerships
Lenovo and Cisco have unveiled a global strategic partnership to deliver fully integrated infrastructure and networking solutions designed to accelerate digital transformation for businesses of all sizes. The two companies have signed an agreement to jointly establish design, engineering, and execution plans for accelerating digital transformation with turnkey solutions.
Korea’s Kyobo Life Insurance Group and Japan’s SBI Group have entered into a strategic business partnership agreement to strengthen the cooperation in digital finance and technology. Since 2022, Kyobo Life Insurance and SBI Group have been collaborating in the venture capital and fintech sectors, including a venture capital fund in Southeast Asia.
Fasset and Dinari forge a strategic partnership to introduce Dinari’s dShares (defined by Dinari as 1:1 backed Real World Asset tokens of US stocks and ETFs), onto Fasset’s digital assets exchange platform available globally. The move is set to broaden investor access to equity markets through blockchain technology and includes the listing of tokenised blue-chip stocks such as Apple, Nvidia, Tesla, Adobe and Uber.
Funding and investments
Gain Credit LLC, a provider of flexible credit solutions, has secured a new debt funding facility of up to £100million to support its continued growth in the UK non-prime market. The funding, provided by Waterfall Asset Management, will enable Gain Credit to continue to develop mid-priced, responsible credit solutions for people unable to get credit from prime lenders and mainstream banks.
Company updates
The Payments Association has drafted a letter to the incoming Chancellor, highlight the payments community’s priorities for the sector. Tony Craddock, director general of The Payments Association, says it is “essential that the new government and the payments industry work collaboratively to protect the UK’s global leadership position. A clear vision and strategy from the new Government will generate significant investment and promote the UK’s position as the global payments leader solidified.”
Lyvely, the UAE-based social monetisation platform, has been awarded a full operational licence from Ras Al Khaimah Digital Assets Oasis, the free zone with common law features established to support digital assets companies. The licence lets Lyvely undertake any non-regulated activities that fall under the SocialFi category.
KHK & Partners announces the spin off and launch of Ayala Capital, a newly formed entity dedicated exclusively to capital-raising activities in the MENA region. This strategic move aims to streamline and enhance KHK & Partners’ fundraising capabilities, allowing both KHK & Partners and Ayala Capital to better serve clients, investors and stakeholders.
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