This Week in Fintech: TFT Bi-Weekly News Roundup 24/09

The Fintech Times Bi-Weekly News Roundup takes a look at the latest fintech stories from around the world on Tuesday 24 September 2024.

Appointments

Axyon AI, a fintech provider of AI to the asset management industry in Europe, has appointed Nicholas ‘Nick’ Greenland as senior vice president, business development. He rings over two decades of experience to his role at Axyon AI, across both the buy and sell side, holding several senior global positions at BNY Investments, Credit Suisse and RBS. 

Countingup, the UK business account and financial app, has appointed Dan Elias as head of product, Jamie Crosson as head of marketing and Tom McGilloway as head of compliance. Elias was most recently head of product at UK fintech ClearScore, while Crosson previously worked at Tomorrow Bank and Starling Bank. Meanwhile, McGilloway joins from cross-border payments platform Terrapay.

Marqeta, the global modern card issuing platform, welcomes Fouzi Husaini as its chief artificial intelligence officer. Previously at Capital One and Amazon, Husaini will play a pivotal role in scaling Marqeta’s AI organisation to help increase purchasing power by reducing risk and improving consumer and commercial rewards, while also helping accelerate innovation.

Finance SaaS provider Pirum has appointed Mark Hale as CEO and Ben Challice as president and chief strategy officer. Hale joins from Visible Alpha, while Challice returns from JP Morgan. Outgoing CEO Phil Morgan transitions to an advisory role. Hale and Challice will lead Pirum’s global growth and focus on enhancing automation and connectivity for clients.

Specialist analytics and risk management consultancy 4most has expanded its senior team by appointing Philippa Milner-Jones as a client partner in the London office. She joins over 300 experts across its six offices in the UK, Europe, India and the Middle East. Philippa joins 4most from Lloyds Banking Group, where she held various leadership roles within the risk division, most recently as the director of decision science.

More appointments

Ebury, the global financial technology firm, has appointed Maxim Syn as its new UK head of sales and named Samuel Edwards as the UK head of dealing. Syn began his career at Ebury as a senior sales executive in 2016 and advanced to head of desk. Meanwhile, Edwards comes to Ebury from Corpay.

BCN, a cloud IT managed service provider, has appointed Victoria Jackson as chief people officer. With extensive experience in HR across TV, technology, retail as well as hospitality sectors, Jackson will focus on strengthening BCN’s culture and leadership strategies. Her role is key as BCN continues to expand, now with over 400 employees following significant growth and acquisitions.

Firenze, the Manchester-based fintech, has appointed Paul Pester as chair, with Samantha Bamert and Mike Toole also joining as non-executive directors. Pester, former CEO of Virgin Money and TSB Bank, brings extensive fintech and banking experience. Bamert and Toole add expertise in finance and wealth management. These appointments strengthen Firenze as it expands access to Lombard lending for mass affluent UK consumers.

Sucden Financial has appointed Bruno Almeida as director of regulatory and financial risks. Almeida, with nearly 20 years of experience, will oversee exchange relationships, capital and liquidity risks. He joins from FNZ Group, where he was CFO UKMEA, and previously held roles at the FCA and Itaú BBA. CEO Marc Bailey highlighted Almeida’s expertise as crucial for the firm’s growth and risk management.

Raidiam has strengthened its global presence with the appointments of Jim Wadsworth as head of advisory and Lauren Jones as strategic advisory partner. Wadsworth, with 25 years in banking and payments, played a key role in open banking at Mastercard. Jones, with 15 years of experience, has also contributed to key open banking standards.

Even more appointments

WTW appoints Parveen Kaur as global leader of operations, strategy execution and data to Neuron, the company’s commercial digital trading solution. In the newly created role, Kaur will focus on creating a strong and agile organisation that continually adapts to meet the needs of the commercial lines insurance market. Kaur most recently served as chief customer officer for Leeds Building Society.

Cashfree Payments, a payments and API banking solutions company in India, has named Nitin Pulyani as head of product and senior vice president. In this new role, Pulyani will spearhead product innovation as well as develop strategic growth initiatives. He will also oversee product development, drive innovation and ensure delivery of top-notch products and solutions.

Company updates

Bitpanda has launched a new campaign across Europe with each market featuring localised content that speaks directly to its audience. The ‘When Crypto, Then Bitpanda’ campaign, as well as strategic partnerships, local ambassadors, and a strong focus on the European market, Bitpanda is aiming to make its brand promise more visible to the market.

Sygnum, a global digital asset banking group founded on Swiss and Singapore heritage, has taken a significant step toward its European expansion by registering its local subsidiary with the Liechtenstein financial regulator, FMA. The registration enables Sygnum to offer regulated digital assets services, including brokerage, custody and B2B banking, to the Liechtenstein market.

Alternative data analytics specialist QuantCube Technology has unveiled an Asset Mapping database, designed to fill the data gap facing banks, insurance companies, asset managers and corporates as they seek to monitor the risk exposure of the physical assets they own and invest in. The solution enables firms to understand the exposure of their investment portfolios to environmental, social and governance (ESG) risks at a granular level.

Collaborations

Fintech BharatPe and ONDC (Open Network for Digital Commerce) announce an integration that would enable the BharatPe customers to order and get their food delivered via its app. This eliminates the need of having multiple apps on a user’s smartphone, thereby ensuring a more seamless customer experience. This is the first integration that the BharatPe has announced post the launch of consumer payments last month.

Boshhh, the mobile network helping customers to boost their credit ratings, is introducing Boshhh.io, a new AI-powered tool designed to boost affordability and risk assessment reporting in the financial services and legal sectors. Following a partnership with Yapily, Boshhh.io can securely access and analyse years of transaction history, with the client’s permission. From here, Boshhh.io generates detailed, real-time reports.

BlackRock has joined FinTech Scotland as it expands in the region. The partnership aligns with Scotland’s fintech innovation strategy. Through this partnership BlackRock and FinTech Scotland will collaborate on innovation and solving difficult problems through data and technology, while helping more people experience
financial wellbeing.

Link Financial Technologies, an open banking payments platform in the US, has joined forces with Anchor Operating System, a company in the ticketing industry. This partnership introduces Link Money’s Pay by Bank solution to Anchor’s ticketing services. With this integration, Anchor will give its clients the option to allow customers to pay for tickets directly from their US bank accounts using Link Money’s Pay by Bank technology.

M&As

BNP Paribas has signed an agreement to acquire HSBC’s private banking activities in Germany, aiming to strengthen its wealth management presence with assets under management exceeding €40billion. The acquisition targets high-net-worth and ultra-high-net-worth individuals, with a focus on German SMEs and entrepreneurs. BNP Paribas plans to leverage its integrated services to support both personal and corporate client needs, further consolidating its position as a top wealth management player in the eurozone.

Firstsource Solutions has acquired Ascensos, enhancing its nearshore and multilingual capabilities. Ascensos, specialising in retail and e-commerce customer experience, will remain a separate unit, using Firstsource’s technology and global reach. The acquisition strengthens Firstsource’s position in the retail sector, combining Ascensos’ expertise with Firstsource’s advanced technology and global services.

Funding and investments

arqu, a tech-enabled wholesale insurance brokerage, has raised $10million in Series A funding led by Crosslink Capital, as well as Intact Ventures and existing investors. The funding will fuel expansion into new sectors and also accelerate product development. arqu’s data-driven approach empowers brokers to pre-underwrite risks, improving outcomes for retail brokers. Founded in 2020, arqu operates in the $100billion excess and surplus market.

Desia, a system of intelligence and AI productivity for investment professionals, has revealed a $3.3million pre-seed funding round led by Dig Ventures. The investment will fund the company’s development and growth. Desia was founded by Raffaele Terrone, co-founder of Italy’s first unicorn company Scalapay, alongside ex-Advent International‘s Alessandro Amaro and Mehmet Öner Yalçin. 

British Business Investments announces a £15million uplift to its existing facility with Southampton-based specialist asset finance company Liberty Leasing. The transaction, which increases the £15million facility made to Liberty Leasing in 2021 to a total £30million, will improve access to finance for smaller businesses in the construction, engineering, transport, agriculture and printing sectors.

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