This Week in Fintech: TFT Bi-Weekly News Roundup 01/10

The Fintech Times Bi-Weekly News Roundup takes a look at the latest fintech stories from around the world on Tuesday 1 October 2024.

Partnerships

Complytek, an AML compliance solutions company, and Advapay, which provides core banking systems, have partnered to offer fintech companies a complete end-to-end solution – helping businesses grow their business while remaining fully compliant with local and global regulations.

PayerMax, a global provider of payment solutions has announced a strategic partnership with Saudi Awwal Bank, a bank in the Kingdom of Saudi Arabia Kingdom. This partnership aims to redefine the digital payments landscape and streamline the onboarding experience for local merchants, facilitating seamless global transactions.

CRIF and Ozone API have forged a strategic partnership. This collaboration combines CRIF’s credit information and decision support systems with Ozone API’s open banking experience and secure standards compliant technology. The global partnership is designed to help financial institutions securely expose their data and on creating a comprehensive suite of financial solutions that address their evolving needs.

Paynetics, a licenced provider of end-to-end payment services, partners with MyMonty, a financial technology company, to launch a digital wallet. MyMonty’s app, with Paynetics’ digital infrastructure, enables customers across the EU and the UK, to access payments accounts and cards.

Omnichannel payment gateway Paybyrd has chosen Mangopay, a modular and flexible payment infrastructure provider for platforms, to provide a bespoke solution that will optimise the management of funds for the merchants it supports, including TAP Air Portugal, Decathlon and Vila Galé Hotels.

Trading and investing platform eToro and investment management firm ARK Invest have partnered to launch a technology and innovation focused portfolio on the eToro platform. The portfolio, named ARK-FutureFirst, focuses on investing in innovative companies across technology, healthcare and sustainability, aiming to achieve high growth while addressing critical global challenges.

More partnerships

Carry1st, a consumer payments provider, forges a new partnership with Audiomack, a music streaming and discovery platforms with more than 30 million monthly users. This collaboration is designed to make it easier than ever for Audiomack’s customers in Africa to purchase subscriptions to stream their favourite artists using local payment methods.

Ecommpay, the inclusive global payments platform, has extented its partnership with Token.io, an account-to-account (A2A) payment infrastructure provider. Ecommpay has added Token.io’s virtual accounts in four new markets — the Netherlands, Spain, France and Ireland — to Ecommpay Open Banking Advanced, delivering important cash-flow and customer experience benefits for e-commerce businesses.

Funding and investments

Carmoola, the UK-based fintech for car financing, has bagged a new debt deal with NatWest, worth £100million. This partnership will help accelerate Carmoola’s goal in transforming the car finance industry by providing a fast, fair and affordable way for consumers to get car finance directly, rather than through an intermediary.

Appointments

Napier AI, an AI-powered financial crime compliance solutions provider, has appointed Warren Zafrin as its chief technology officer (CTO). Zafrin previously served as CTO at Symphony AI Sensa AI. At Napier AI, Zafrin will bolster the company’s position in the fight against financial crime through integrating next-generation AI technologies and strengthening the speed and precision of financial crime detection.

Axyon AI, which delivers alpha opportunities via AI-powered asset rankings and AI strategies, appoints Professor Petter Kolm as scientific advisor. Kolm is a professor and director at the Courant Institute of Mathematical Sciences, New York University. He is also a member of the boards of the International Association of Quantitative Finance (IAQF) and the Society of Quantitative Analysts (SQA).

Bank of Ireland Group has  named Akshaya Bhargava as chair and governor, following an international search process. Akshaya will take up the position on 1 January 2025. Bhargava has been a member of the board of Bank of Ireland since January 2024. He has also previously served as a director on the boards of Wealthify Group, Mindtree, Barclays Asset Management, Vahanna and Avendus Wealth Management. 

More appointments

OpenPayd, an embedded finance and banking-as-a-service platform, unveils two strategic senior appointments following growth. It has welcomed Lux Thiagarajah, former head of (FX) commercial at Falcon X as director of growth and Richard Usher, as director of trading, formerly Head of FX trading at Falcon X, in a move to drive client adoption and enhance its trading offering.

Mike Goodenough is appointed director of banking services at LHV Bank following a six month period as a business consultant.  In his new role, Goodenough will drive the development of strategic initiatives to accelerate growth for the bank’s banking services business in the UK and Europe as well as enhance the product offerings and further strengthen relationships with clients and partners.

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