The Fintech Times Bi-Weekly News Roundup takes a look at the latest fintech stories from around the world on Tuesday 10 September 2024.
Appointments
Quant, the digital finance company, appoints Lenna Russ in the newly created role of chief commercial officer. Russ joins from Tradeteq, the private debt and trade finance marketplace, where she spent three years as chief revenue officer. At Quant, Russ will apply her knowledge of the financial technology landscape to spearhead the company’s commercial operations and support its continued growth.
S64, the alternatives fintech and solutions partner to the wealth management industry, has named Shawn Ko as head of South Korea. This strategic move follows a year of significant growth across the region and will further bolster S64’s footprint in the Asia-Pacific region. Ko will be located in Seoul and will spearhead S64’s operations across South Korea.
CLOWD9, a provider of cloud-native payment processing solutions, appoints Paul Hansford as its new chief technology officer. Hansford brings a wealth of experience from his tenure at Thredd, serving as its head of software engineering and CTO.
WTW, a global advisory, broking and solutions company, has appointed Colin Dutkiewicz as senior director to its insurance consulting and technology business. Headquartered in London, Dutkiewicz will leverage his reinsurance, transaction and capital management expertise to further expand WTW’s capital advisory business.
Partnerships
TrueLayer, a European open banking platform, has expanded its partnership with Stripe. TrueLayer now underpins Stripe’s Pay by Bank offering across its payments products in the UK. In May, Stripe unveiled Pay by Bank — a new payment method enabling merchants to accept payments directly from customers’ bank accounts, streamlining the payment process and reducing transaction fees.
Oracle and Amazon Web Services announce a strategic partnership. Customers can now access Oracle Autonomous Database and Oracle Exadata Database Service in AWS, simplifying the migration and deployment of enterprise workloads to the cloud while improving agility, flexibility and security.
Proxymity, the digital investor communication platform, has forged a partnership with Tumelo, a global specialists in pass-through voting. This strategic alliance marks a significant milestone in Proxymity’s mission to enhance shareholder communications, enabling better corporate governance and increased engagement between corporates and investors.
Liberis, the global embedded finance platform, forges a partnership today with myPOS, a fintech platform and payment service provider to European SMEs. This partnership will enable myPOS to offer revenue-based financing in 10 European countries starting with the UK, providing small businesses with the money they need to fund new projects, address business challenges, and expand at their own pace.
Funding and investments
PastPay, a provider of B2B payment solutions, has bagged a €12million Series A funding round led by Platina Capital in collaboration with several financial institutions and private investors. PastPay’s mission is to provide innovative B2B payment solutions, enabling flexible payment terms for business transactions. PastPay will utilise the new injection of funds to expand its current offerings.
FINBOURNE Technology, architects of an interconnected network of functionality and data for the investment community, has completed a secondary funding round. The raise follows a Series B funding round of £55million in June 2024 and brings the total to over £100million, making it one of the largest series B raises in the UK. Two investors, CommerzVentures and HSBC, join the FINBOURNE board as observers.
Company updates
Griffin, a UK bank for fintechs, has opened its platform up to UK fintechs as it concludes its early access programme, Foundations. As a licensed UK bank and banking-as-a-service provider, Griffin enables companies to seamlessly embed banking products like payments, savings, safeguarding and client money accounts, and unlock more revenue opportunities across their value chain.
Luma Financial Technologies, the independent, multi-issuer, capital-markets based alternatives platform, is further expanding its global reach and presence in Europe by opening an office in Lisbon, Portugal. Luma, which is backed by three of the world’s largest banks, is establishing the office as its European engineering centre to support its fast-growing international business.
DNA Payments has introduced Apple Pay Express Checkout, giving e-commerce clients a new way to accept customer payments. Now, merchants can offer Apple Pay at checkout or via the Express option through the Safari browser, ensuring consumers a swift and seamless buying experience.
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