The Fintech Times Bi-Weekly News Roundup takes a look at the latest fintech stories from around the world on Tuesday 17 September 2024.
Partnerships
Aramco Digital, the digital and technology subsidiary of Aramco, and Accenture have formed a strategic partnership to fuel generative AI innovation and supercharge the digital skilling agenda in Saudi Arabia. Aramco Digital will leverage Accenture LearnVantage’s AI-native platform, which offers curated learning content and brings in a network of Arabic and English trainers and mentors from Accenture.
Global fintech Unlimit forges a strategic partnership with global AI-commerce technology company Shoplazza. The partnership is focused on enhancing cross-border payment services for e-commerce merchants in APAC. Shoplazza merchants will be able to leverage Unlimit’s portfolio of payment methods and payment infrastructure to expand their customer bases worldwide and improve customer retention.
HTX, a cryptocurrency trading platform, appoints Ruder Finn Asia as its official communications agency partner. This strategic partnership will strengthen HTX’s communications efforts across global markets, focusing on thought leadership, media engagement as well as brand trust.
Kuady, the payments service processor, has launched the Kuady Card, a virtual prepaid Mastercard, for users in Peru. Online merchants can pay out directly to Kuady accounts, enabling them to build stronger relationships with their customers by providing a faster, more efficient payment method. Users also have the option to request a physical card for in-store purchases.
M1, a mobile network operator in Singapore, and Stripe, a global financial infrastructure platform for businesses, have teamed up. M1’s subscribers can now make payments directly within WhatsApp, powered by Stripe. Leveraging Stripe’s infrastructure, M1 CORI customers can make a deposit and reserve a handset using WhatsApp too.
More partnerships
Nayax, a global commerce enablement, payments and loyalty platform, has partnered with Adyen, a global financial technology platform. Together they will drive the global delivery of cashless payment technology to businesses in the electric vehicle charging and automated self-service industries. Adyen joins Nayax’s network of acquiring banks and Nayax’s end-to-end payment and loyalty platform will integrate into Adyen’s single global platform.
Rain, an employer-sponsored platform providing earned wage access (EWA) and other financial wellness services, has signed a partnership agreement with Workday, a provider of solutions to help organisations manage their people and money. As a Workday partner, Rain will leverage a direct API integration with Workday Human Capital Management (HCM).
Ecofi, the asset manager of the French banking group Groupe Credit Cooperatif, has partnered with NeoXam. Under this agreement, Ecofi will leverage the NeoXam Impress platform’s entire automated reporting process, from data collection, data quality checks, performance analytics computation, and reporting templating and generation for the full range of its funds.
Company milestones
Zopa Bank has surpassed £5billion in customer deposits. The news comes just four years after getting its banking licence and four months after surpassing its previous £4billion deposits milestone. This milestone also comes after Zopa revealed its first full year of profitability earlier this year. The bank now has 1.3 million users and continues to grow its customer base at 30 per cent year-on-year.
Bybit, the cryptocurrency exchange, has been granted a provisional (non-operational) approval for virtual asset service provider (VASP) license for virtual asset exchanges services in Dubai for retail, qualified investors, and institutional users, cementing the relationship between Bybit and Dubai, the location of its global headquarters.
Industry hires
The John Lewis Partnership appoints James Mack as director of John Lewis Money, the financial services business of JLP, offering insurance, the Partnership Credit Card, travel money, as well as point-of-sale payment options. Mack most recently held CFO roles at Barclays Bank, Aldermore Bank and the Co-op Bank. He has been interim director of financial services since April 2024.
Payments provider Mangopay appoints Sergi Herrero as its new CEO. He was previously global director for payments and commerce partnerships at Meta. He has also held senior executive roles at Square and BNP Paribas and served as co-CEO of global telecommunications company VEON. Herrero succeeds Romain Mazeries who remains a member of Mangopay’s board.
Fignum, a software development company specialising in loan origination and servicing for mortgages and motor finance, appoints Andrew Lloyd as CEO. In his new role, Lloyd will work with the wider Fignum leadership team to develop and deliver a business strategy that further cements the platform in the UK mortgage and lending markets. Prior to joining Fignum, Lloyd worked at global fintech business PEXA.
Aqilla appoints Charis Thomas as chief product officer. Thomas is responsible for developing Aqilla’s product roadmap strategy and overseeing its implementation – translating the company’s vision for zero-touch accounting into a practical reality. Before joining Aqilla, she was payments product manager for domestic payments at Lloyds Bank, and product manager at Zoopla, prior to that.
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