This week in Fintech: TFT Bi-Weekly News Roundup 01/11
Fintech Times The Bi-Weekly News Roundup serves up news of a Froda and Yabie partnership, plus a new chairman for CLOWD9.
Appointments
Ido Hertz has joined the Tel Aviv office of insurtech Pattern as VP of Products as it continues its rapid growth in the global embedded insurance market. Hertz will oversee the company’s product vision, strategy and execution. He was most recently based in Asia as head of international travel recycling products for Agoda.
Quintessencea digital transformation business headquartered in Brazil, has appointed India Gary-Martin as a senior advisor. In his role, Gary-Martin will provide Qintess with insight and guidance to support the expansion of its global footprint and customer base. Qintess has also strengthened its management team with six new senior hires, including a new COO, as it accelerates its international expansion into Europe and the US.
Cyber Security Company Drawbridge have named William (Bill) Haney as managing director and member of the board. Haney’s appointment follows several years of growth for Drawbridge. Drawbridge founder and board member Jason Elmer also becomes president.
Meanwhile, PXP Financial Group has unveiled three appointments to its senior management team. Katharina Richter-Weiss joins the company as operations manager, while Salvatore Cicero has been promoted to CTO. Dwayne Thomas is also promoted to deputy managing director.
CLOUD9, the cloud native decentralized payment processing platform, has appointed Peter Selman as chairman of the board. Prior to his role at CLOWD9, he was global equity manager at The German bank. CLOWD9’s investor base includes former partners at Morgan Stanley, JP Morgan, Deutsche Bank and Vantage Capital Markets.
Partnership
Swedish fintechs Froda and Yabie sign partnerships to democratize small business financing and entrepreneurship. Together they will launch Yabie Loans, a new service for entrepreneurs who want to invest in their ideas and grow their business. The service is based on Froda’s technology platform Financing as a Service.
Technology company for digital transformation Finboot and digital engineering firm Nitor Infotech Pvt. Ltd has entered into a partnership agreement. Nitor Infotech can now take advantage of Finboot’s blockchain MARCO platform to help its customers improve their supply chains and processes, as well as support their sustainability initiatives.
Secure and Provenance partner to strengthen fraud protection for the financial industry via mobile intelligence. The combined solution is ideal for supporting BNPL, SME lending, retail and POS, new customer onboarding, car financing, as well as banking and loan origination.
HungryPanda, an Asian food delivery platform, has teamed up with Alipay+ from Ant group to improve digital operations and provide an integrated payment solution for overseas Asian communities. With support from Alipay+, HungryPanda is expanding its digital wallet coverage to better serve its consumers in the UK, France and Italy as well.
The Dubai Financial Services Authority (DFSA) have signed an agreement with Bangladesh Securities and Exchange Commission (BSEC). The two authorities will exchange information to fulfill their respective regulatory mandates. The agreement provides a framework to facilitate cross-border cooperation between the two bodies on supervision and enforcement actions.
Meanwhile, Mashreq Bank has signed a strategic agreement with FinIQ, the Singapore-based capital markets technology provider. Together, they will streamline Mashreq’s wealth management offering with an easy-to-use, unified solution.
More partnerships
Admiral Money, a subsidiary of Admiral Group PLC, have chosen OCR Labs Global as a provider of digital identity verification. With OCR Labs Global’s technology, Admiral Money can verify the identity of people applying for loans with accurate results in seconds, compared to a previous waiting time of up to three days.
Open banking platform TrueLayer has entered into a partnership with an Irish betting provider StrikePay. StrikePay’s instant payment terminal uses NFC and QR code technologies to enable people to tap to pay using any phone. Customers looking to get paid quickly can connect and verify their bank account instantly using the TrueLayers Data API.
JCB working together with Now way to enable acceptance of JCB payments across global markets. Nuvei now offers JCB acceptance to its global merchant ecosystem, enabling JCB’s more than 140 million strong card member community to pay at Nuvei’s network of 50,000 merchants across global markets. These trade sectors include social media, luxury retail, travel and entertainment. This will also allow JCB to offer a compelling proposition to its global users.
Freedom financing has integrated its platform with Experian‘s Marketplace Lender Panel. The partnership gives customers immediate access to seven new brands, complementing existing direct connections with lenders and paving the way for further expansion for loans and credit cards.
Acquisition
eToro, the social investment network, has acquired Nonsense, a provider of portfolio management tools developed exclusively for eToro users. eToro will integrate Bullsheet’s offering into the eToro platform. Co-founders Philip Sommer and João Ramalho Carlos will also join the eToro product development team.
