Fintech-fiks 06/07/2022 | Fintech Finance

by James · July 6, 2022

Welcome to The Fintech Fix, where we cover the biggest stories of the financial week. Whether it’s the next groundbreaking trend in cryptocurrency or Blockchain technology, a new partnership in the process of changing the global, economic landscape or an upcoming startup that is generating a huge following.

Hot Topics – Brexit is one of the most divisive problems our country has ever faced, as we still have serious discussions about how we can best move forward. Following the Brexit transition, customers in the UK and EU are becoming more dependent on industry partners who have a solid foothold on both sides of the channel. iBanFirst acquires UK currency provider to solve Brexit payment challenges | Fintech Finance

With that in mind, iBanFirst, a global financial services provider, announced the acquisition of London-based FX provider Cornhill to expand its international footprint and expand its European PSP license to the UK. Pierre-Antoine Dusoulier, CEO of iBanFirst, commented on how the acquisition will “strengthen iBanFirst’s value propositions for SMEs, simplify the GBP exchange in a post-Brexit context and offer Cornhill customers access to its state-of-the-art cross-border technology.”

ESG continues to be a focus that many financial institutions emphasize, and NatWest demonstrated its recent innovation in space with the launch of Carbon Planner. This free-to-use digital platform is designed to help UK businesses manage their future fuel and operating costs, and reduce their carbon footprint to help them grow greener. The launch follows the bank’s broader commitment to lend £ 100 billion to climate and sustainable finance and finance companies by 2025.

Two-thirds of American workers drown in debt because bills fall due before they receive the pay slip. Payactiv, the leader in Earned Wage Access, an economic wellness program that essentially lets employees spend their money as soon as they earn it, has announced the elimination of EWA access fees, making several of their options completely free. “Timely access to earned wages is the surest way for millions of American workers to meet livelihood needs without fees and penalties from other liquidity options. With additional zero-cost EWA options, the bar has been raised again for the emerging EWA industry,” said the co-founder and CEO. Director Safwan Shah.

The FF News team hosted some excellent content recently. In our episode of The Fintech Show, we take a look at how payments change due to automation, global standards such as ISO20022 and other important trends in the scene. To find out more, we spoke with Roland Brandli from SmartStream Technologies, Michael Klopchic, Country Manager for Global Liquidity and Cash Management at HSBC Canada, and Raphael Barisaac, SVP Global Head of Cash Management at UniCredit.

And if that wasn’t enough, be sure to check out our virtual arena where we took a deep dive into how banks can return to the center of the consumer’s financial universe with Alex Gatiragas, Global Head of Digital Solution Experience at G + D, Kurt Schmid, Marketing & Innovation Director Secure Digital Payments at Netcetera, and Alex Bowen, Chief Operating Officer at HSBC’s e-wallet fintech startup, PayMe.

Great partnerships to look at – Giesecke + Devrient (G + D), a global security technology group, acquired the payment and identity solution business of Valid USA. G + D aims to accelerate growth in the US so that their customers will benefit from the expanded business size in the face of persistent industry-wide supply chain challenges.

Ralf Wintergerst, CEO and Chairman of the Board of G + D, said “part of G + D’s success strategy is that we continue to invest intensively in new technology fields as well as our core business. With the acquisition of Valid’s payment and identity business in the USA, we are not only confirming our long-term commitment to the US market. The expanded solution portfolio will also allow us to continue to grow strategically in both fields – payment and identities. “

Virgin Money is working with the UK personal tax app untied, to offer tax options for sole proprietors who have a Virgin Money business account. The new partnership means that Virgin Money’s self-employed customers will have access to the unbound, enabling them to better manage their businesses, get on top of the tax and submit to HMRC directly from the unbound quickly and easily.

The service will also enable the integration of Virgin Money corporate accounts with the unbound app. untied offers real-time tax calculations that help small business users set aside the right amount when paying their tax bill in the future. In addition to taking advantage of this, the new partnership will also enable Virgin Money corporate clients to meet HMRC’s digital income tax (MTD) requirements for income tax.

Financing – Zilch, the double unicorn, raised a total of $ 160 million with its Series C financing, bringing the total financing to well over $ 460 million in debt and equity as it tries to maintain its valuation. The additional capital will be used to finance business growth, focusing on the US market where Zilch recently opened its Miami office and launched with more than 150,000 pre-registered customers.

Transfer News – Global Processing Services (GPS), a leading global payment technology platform, has announced new leadership changes in the organization. Joanne Dewar has been promoted to the role of Deputy CEO, while Kevin Schultz has been appointed CEO of the company, with immediate effect. Gene Lockhart, Chairman of the Board at GPS, shared how “our management team now has a unique and powerful mix of industry, marketing and management experience that will help us accelerate the company’s growth.”