Author: David Penn

Finding Fintech’s Future in Emerging Europe

Finding Fintech’s Future in Emerging Europe
By David Penn Posted on
Categories: FinovateEurope 2019

Where is fintech innovation in Europe making the greatest strides? In recent years, more than a few observers have found themselves looking eastward when thinking about the future of European fintech.

Deloitte’s 2017 report, Fintech in CEE: Charting the course for innovation in financial services technology, highlights a number of key findings in its executive summary, including the opportunities for innovation in the banking sector, the growth of contactless and mobile payments, and the potential for disruption in the region’s “somewhat conservative” asset management industry.

The report noted:

Innovations for the banking sector provide the greatest share of FinTech solutions in all CEE countries. Such solutions are highly developed in virtually all countries (internet and mobile banking and contactless cards, for example). Although most solutions are developed in-house or provided by established vendors, there is room for emerging FinTech providers.

The theme of “opportunity” is a common one among CEE fintech analysts. In its CEE Fintech Survey for 2017, BCS Global Markets highlighted a number of firms doing business in the region – including Finovate alums mBank, Azimo, and Atsora. In addition to its praise for Poland (“No other country in CEE tops Poland in terms of fintech”), the report also gave high marks for the country it called “Cyber Republic”:

The Czech Republic has a relatively big and fast-growing market for fintech, Its banks are considered some of the safest and best-run in the region, but also the most conservative, which makes them fat targets for emerging fintech firms to either offer new-fangled services to or even take business away from.

Chris Skinner, a fintech author (The Finanser) and analyst who has been involved in the region’s banking scene for more than 20 years, has provided some astute insights into what makes fintech in the CEE different from fintech in the rest of Europe, or the United States, for that matter. Praising the capital markets and competitive banking marketplaces that have developed in nations like Poland, Skinner added:

Because they’ve done all that with new technology, they are hugely innovative. And that’s what I see across Eastern Europe. There’s innovation that you don’t get in mainstream Europe or mainstream America because in mainstream America you are still dealing with technologies that were implemented invented before Mark Zuckerberg was born. Whereas in these countries, all the technologies are from the 1990s onwards, many of them from the last decade. Therefore they are fit for the future, and fit for the present.

With FinovateEurope just one month away, we wanted to take a special look at fintech in the eastern part of the continent. Here we’ll focus on what our Finovate alums – from Europe and beyond – have been doing to take advantage of new markets, new talent, and new opportunities in Central and Eastern Europe.

First, a tip of the hat to our CEE-headquartered alums:

And here’s a review of what Finovate alums – based in the CEE and around the world – have been up to in the region over the past year.

Albania

  • Albania’s Raiffeisen Bank ShqipĂ«ri partners with NF Innova to deploy digital self-service kiosks.

Azerbaijan

  • International Bank of Azerbaijan (IBA) to deploy technology from FICO to fight money laundering.

Austria

  • First Data goes live with Clover Mini and Clover Flex smart terminals in Germany and Austria.

The Baltic States: Estonia, Latvia, Lithuania

  • Estonia’s Cryperium Releases Crypto-Fiat Solution.
  • Coinbase adds six new European markets: Andorra, Gibraltar, Guernsey, Iceland, Isle of Man, and Lithuania.

Belarus

  • FICO to provide KYC and onboarding solutions for Belarus-based lender, Belgazprombank.

Bulgaria

  • Azimo extends service to ten countries including Romania, Bulgaria, and Croatia.

Croatia

  • Azimo extends service to ten countries including Romania, Bulgaria, and Croatia.

Czech Republic

  • Trulioo announces its ID verification services are now available in the Czech Republic and Slovakia.
  • Silicon Republic features expense-tracking tool BudgetBakers, PFM solution Spendee, and financial services provider for the underserved, Twisto in its list of 10 Outstanding Start-ups from Prague to Watch.
  • EVO Payments to provide payment acceptance services for merchant customers of leading Czech bank, MONETA.

Hungary

  • Erste Bank Hungary readies for immediate payments and open banking era with ACI Worldwide.
  • OTP Bank in Hungary partners with ACI Worldwide to power its digital transformation.

Poland

  • Backbase powers omni-channel digital services for Poland’s BGĹ» BNP Paribas bank.
  • Intelligent CIO looks at the merger of Polish fintechs, Braintri and iCompass.
  • Poland’s Braintri merges with iCompass.
  • Braintri awarded the Polish Innovation Award 2018 for its creation of Jiffee, a bluetooth-based mobile payment and loyalty technology, and Biffee, a core banking system offloading engine.
  • Efigence provides UI/UX design, development and implementation for new investment platform from Polish home equities broker, CDM Pekao.
  • Mastercard partners with Polish Payment Standard to provide contactless payments.
  • Efigence provides UI/UX design, development and implementation for new investment platform from Polish home equities broker, CDM Pekao.
  • Kontomatik appoints CEO Piotr Warsicki as its new CEO.
  • Revolut announces recruitment initiative in KrakĂłw, Poland to hire 100 new workers in a single day employment in its offices in Eastern Europe.
  • Efigence powers concept, UX, and design for BGĹ»Optima Bank’s new portal.

Romania

  • Finastra opens new offices in Romania.
  • Payfone partners with Orange to fight identity fraud in four new global markets, including Poland and Romania.
  • Entrepreneur.com features Fintech OS in a discussion on fintech innovation in Romania.
  • Revolut hires former Lead Marketing Manager of Uber Romania, Irina Scarlat, as its new Country Manager for Revolt Romania.
  • Personetics Brings Cognitive Banking to Romania’s Banca Transilvania.
  • Romanian bank Raiffeisen Bank International (RBI) launches accelerator program, Elevator Lab with five startups, Gauss Algorithmics, SONECT, 360kompany, Asteria, and Moxtra.
  • Azimo extends service to ten countries including Romania, Bulgaria, and Croatia.

Slovakia

  • Trulioo announces its ID verification services are now available in the Czech Republic and Slovakia.

Slovenia

  • Open banking platform innovator Token announces that its technology has been implemented by Sberbank in Slovenia.

Ukraine

  • Ukraine’s Akhmetov Bank leverages Corezoid’s cloud-based operating system.
  • Fortytwo Data opens its first international office in Kiev, Ukraine.

Russian Federation

  • Sberbank introduces support for Google Pay.
  • Sberbank offers clients new strategies for investment life insurance.
  • Ingenico Group teams up with Russia’s Sberbank to enable MOIR card payments for online purchases.
  • Tinkoff Mobile extends service to seven additional areas of Russia including Smolensk and the Republic of Mordovia.
  • Tinkoff Bank launches its Tinkoff Mortgage mobile application for its mortgage customers and partners.
  • Tinkoff Bank launches Tinkoff Junior mobile app for children and teenagers.
  • Sberbank unveils its new Payment Schedules solution, enabling users to configure the interface of Sberbank Business Online into an event feed format.
  • Sberbank customers can now add “cash postcards” – automated images with sound – to their money transfers.
  • Sberbank to offer loans of up to RUB 300,000 without proof of income as part of new pilot program.
  • Tinkoff Bank offers access to more than 10,000 global securities via its Tinkoff Investments Premium solution.
  • Sberbank partners with 500 Startups to launch Russian fintech accelerator.
  • Sberbank becomes Founding Partner of World Economic Forum Centre for Cybersecurity.
  • Sberbank and SAP team up to complete cloud-based digital transformation project.
  • Sberbank partners with systems integrator I-Teco to develop joint cloud platform, SberCloud.

Interested in learning more about fintech in Europe? Join us February 12 through 14 for FinovateEurope 2019 at London’s Tobacco Dock. Visit our registration page for more information.

Top Photo “Colorful Krakow Night. Cracow Old Town Main Market Square. Krakow, Poland”Designed by Welcomia

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Vymo Joins Bangkok Bank Accelerator Program

Vymo Joins Bangkok Bank Accelerator Program
By David Penn Posted on
Categories: Vymo

Vymo, a personal assistant for sales professionals, will join Bangkok Bank’s accelerator program, Bangkok Bank Innohub. The 12-week program will provide startups with mentorship and strategic guidance from financial professionals. The process is designed to guide companies toward securing a proof of concept with Bangkok Bank and making a pitch for investment by the program’s end.

“We are excited to be chosen for the Bangkok Bank Innohub program. This is a great opportunity for us to work closely with various stakeholders of one of the largest banks in the region and will enable us to innovate at scale,” Vymo CEO Yamini Bhat said.

Vymo’s technology helps boost the productivity of sales teams, increasing conversion percentages, turnaround time, and sales activity per opportunity. The platform detects the sales representative’s actions automatically, capturing contextual data from phone calls, meetings, emails, and messages.

Vymo then generates actionable insights from the data, letting sales reps know who on their client lists to engage and how, keeping sales managers informed of sales rep activity and progress, and informing sales directors on how best to allocate resources to achieve the best possible sales outcomes.

Above: Vymo Head of APAC Anurag Srivastava demonstrating the company’s platform at FinovateAsia 2018.

The mobile-first, AI-based app is adaptive, learning from the performance of the best sales reps in the organization. Deployed with more than 75,000 sales professionals and achieving a daily average usage of 85%, Vymo has provided companies with a positive revenue impact of 3% to 10%.

One of the largest commercial banks in Thailand, Bangkok Bank has more than 1,165 branches in its network, including 32 international branches in 15 markets in Malaysia and China. The bank’s accelerator program, Bangkok Bank Innohub, operates in collaboration with international venture firm Nest and Bualuang Ventures.

Founded in 2013 and headquartered in Bangalore, India, Vymo demonstrated its personal assistant for sales professionals at FinovateAsia 2018. Last spring, the company announced an expansion into the APAC region with the hiring of Anurag Srivastava, who was previously Head of Finance for Kofax. More recently, Vymo was shortlisted at the Zurich Innovation Championship and won the Best Fintech Startup award at Plug and Play, Singapore.

With more than 35 deployments at global corporations such as Allianz, Generali, and HDFC Bank, Vymo has raised $5 million in funding. The company’s investors include Sequoia Capital India and Microsoft Accelerator Bangalore.

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Finovate Alumni News

By David Penn Posted on
Categories: Entersekt, Finastra, iGTB, Optimove, Temenos, Vymo

On Finovate.com

  • Finding Fintech’s Future in Emerging Europe.
  • Vymo Joins Bangkok Bank Accelerator Program.

Around the web

  • Temenos forges strategic collaboration with Bloomberg.
  • Optimove unveils Streams, a new solution to help measure the impact of marketing campaigns.
  • Entersekt adds digital identity and business development expert, Jennifer Singh.
  • Former head of trade and supply chain finance at Finastra David Hennah joins iGTB.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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New Investment for LendUp Spurs Credit Card Spin Off 

New Investment for LendUp Spurs Credit Card Spin Off 
By David Penn Posted on
Categories: Funding, LendUp

San Francisco, California-based LendUp has picked up funding from LL Funds LLC, Invus Opportunities, and QED Investors.

As part of the investment, the company will spin off its credit card business, Mission Lane, as a separate, stand-alone entity. The transition will enable LendUp to focus on personal loans, gamified financial education, and savings. The company’s credit card business – as well as its IP, technology platform, and staff – will comprise Mission Lane. Vijesh Iyer, LendUp COO, will serve as interim CEO of the new company.

“While most of the financial services industry is aimed at the prime and near-prime end of the credit spectrum, these moves set not just one, but two companies up for long-term success,” explained Frank Rotmann, QED Investors co-founder. “Now LendUp and Mission Lane are better positioned to serve the more than half of Americans who lack access to high quality financial services.”

The amount of the funding was undisclosed. Prior to this latest capital infusion, the company had raised more than $361 million.

In addition to its investment news, LendUp announced a new CEO, Anu Shultes. A 25-year veteran of subprime credit and financial services industry and formerly LendUp’s GM, Shultes helped drive the company’s loan originations to more than 5.5 million short-term loans adding up to $1.7 billion.

“We’re on track to profitably expand into new consumer segments and geographies, launch new loan products, double new customer originations, and carry on our mission to help anyone get on a path to better financial health,” Shultes said in a statement. Former CEO and LendUp co-founder Sasha Orloff will remain with the company as a board member and advisor to Mission Lane.

Founded in 2011, LendUp demonstrated its platform at FinovateSpring 2014. A graduate of the Y Combinator accelerator program, LendUp was featured in the Wall Street Journal last August in a look at how fintechs were entering the subprime lending space. In June, the company was profiled by Center for Financial Services Innovation (CFSI) as one of its Financial Health Leaders for 2018 along with fellow Finovate alums like Finicity and Moven.

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Finovate Global: Fintech News from Around the World

By David Penn Posted on
Categories: Avaloq, Finovate Global

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from Around the World is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

Central and Eastern Europe

  • Gazprombank plans to offer crypto asset custody services later this year in collaboration with Metaco and Avaloq.
  • PYMNTS.com looks at how B2B payments companies in Russia are leveraging the successes of the country’s B2C payments industry.
  • Czech banks anticipate the availability of Apple Pay in the Czech Republic by February or March of 2019.

Middle East and Northern Africa

  • UAE-based financial product comparison portal, Yallacompare, raises $8 million in funding.
  • Central Bank of Kuwait (CBK) goes live with Tata Consultancy Services’ TCS Bancs.
  • Al Bawaba examines the reasons behind Egypt’s relatively slow adoption of fintech.

Central and South Asia

  • Telenor Microfinance Bank unveils Pakistan’s first blockchain-based cross-border remittance service with technology developed by Alipay.
  • PYMNTS.com looks back at a “huge year” for funding for Indian tech startups in 2018, including $300 million raised by mobile wallet app Paytm.
  • Commercial Bank of Ceylon teams up with Tenpay Payment Technology to launch WeChat Pay in Sri Lanka.

Latin America and the Caribbean

  • Bloomberg discusses the relationship between Chinese investment in mobile commerce and the growth of Latin America’s tech sector.
  • Brazilian energy holding company Cosan introduces digital wallet, Payly, for QR code payments and mobile transfers.
  • Chilean government considers levying a tax of up to 19% on global e-commerce companies with local operations.

Asia-Pacific

  • Seven Bank of Japan to adds face recognition functionality to its ATMs to enable “on the spot” account opening.
  • New $200 million investment to support KinerjaPay’s expansion into P2P lending and mobile payments.
  • Reuters reports that China is examining ways to provide lower cost financing, including via bonds and bank lending, to the nation’s small businesses.

Sub-Saharan Africa

  • South African government establishes crypto task force to develop a comprehensive government response to cryptocurrencies, including the taxing of crypto asset transactions.
  • Fintech Circle partners with the African Fintech Network to launch its fintech education courses for African countries.
  • Coin Idol considers the prospect of a crypto bubble developing in Africa.

Top image designed by Freepik

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Finovate Alumni News

By David Penn Posted on
Categories: Klarna, LendUp, NICE Systems, PayPal

On Finovate.com

  • New Investment for LendUp Spurs Credit Card Spin Off.

Around the web

  • Klarna announces collaboration with classic watchmaker Daniel Wellington.
  • Legal & General to deploy NICE’s robotic process automation (RPA).
  • HP forges partnership with PayPal to provide payment processing for its new POS system, Engage One Prime.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Meniga Acquires Swedish Rewards Platform Wrapp

Meniga Acquires Swedish Rewards Platform Wrapp
By David Penn Posted on
Categories: Meniga

Multiple-time Finovate Best of Show winner Meniga is starting off 2019 with an acquisition: purchasing Swedish rewards platform Wrapp for an undisclosed sum. Meniga CEO and co-founder Georg Ludviksson told Reuters that the acquisition would contributed directly to the company’s top line, “adding just over €3 million in annual recurring revenues from rewards,” as well as providing growth opportunities for Meniga in the Nordic region.

Both companies are active in the transaction-driven rewards space – Meniga in Iceland, Wrapp in Sweden and Finland. Together, they will offer a singular solution under the Meniga brand, and operate out of Stockholm, Sweden. Wrapp CEO Aage Reerslev will become Meniga’s VP of Rewards.

“We believe the merger brings us to a tipping point given the strong commitment we have from existing platform partners,” Reerslev said. “This is the right time to invest in transaction-driven marketing technology and create a more intelligent user-centric service which basically helps people buy better and smarter, not more.” Reerslev called it “a new standard for rewarding people and digitally bringing consumer brands closer to their customers – powered and distributed by the banks.”

Founded in 2011, Wrapp raised more than $36 million in funding from investors including Greylock Partners, Qualcomm Ventures, and Atomico. The transaction-driven marketing specialist has been live with six bank partners and has provided rewards and cashbacks for more than 350 brands.

Meniga most recently demonstrated its technology on the Finovate stage at FinovateFall 2018, winning Best of Show honors. During a busy fall season, the company announced a partnership with Singapore’s United Overseas Bank to provide data enrichment and categorization tools for the company’s recently-launched digital bank. Meniga also raised $3.4 million in funding last fall, courtesy of an investment from ĂŤslandbanki, the company’s initial and longest-standing financial backer. The November financing was the second capital infusion for the company in 2018, having picked up $3.6 million in new funding from UniCredit in June.

Meniga has enriched more than 30 billion transactions for 65 million consumers in 30 countries on four continents. The firm processes 34 million transactions a day. The company was founded in 2009.

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Euro Exim Bank Joins RippleNet

Euro Exim Bank Joins RippleNet
By David Penn Posted on
Categories: Ripple

Euro Exim Bank has signed up for Ripple’s payment network RippleNet – putting its digital currency XRP on a potential path to replace correspondent banking, reports Antony Peyton of Fintech Futures (Finovate’s sister publication).

The bank was one of the 13 new financial institutions that have signed up for RippleNet. The others comprise SendFriend, JNFX, FTCS, Ahli Bank of Kuwait, Transpaygo, BFC Bahrain, ConnectPay, GMT, WorldCom Finance, Olympia Trust Company, Pontual/USEND and Rendimento. With these additions, there are now more than 200 customers signed up for RippleNet.

JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank will use the XRP to source liquidity on-demand when sending payments on behalf of their customers.

For Euro Exim Bank, which operates in the worlds of trade finance, corporate banking and wire transfers, it offers some interesting prospects.

Kaushik Punjani, director, Euro Exim Bank, said: “Our customers – whether big corporates or individual remitters – have historically been restricted from obtaining suitable funds or settling transactions in a cost efficient and timely manner. Working collaboratively with Ripple and selected counterparts, we have designed, tested and are implementing both xCurrent [payments processing solution] and xRapid [on-demand liquidity solution] in record time.”

Let’s not the forget the views of the others as David Lighton, founder of paytech SendFriend, described the existing correspondent banking system as “slow, inefficient and costly”.

According to Ripple, using XRP for liquidity when sending a cross-border payment helps financial institutions avoid the hassle of pre-funding accounts in destination currencies.

Ripple is doing pretty well. In 2018, CEO Brad Garlinghouse said nearly 100 financial institutions joined RippleNet, and it also saw a 350% increase last year in customers sending live payments.

Meanwhile, its rival Swift has been thinking about correspondent banking as well.

Working alongside 34 banks, including Deutsche Bank, Swift completed a proof of concept (PoC) for nostro reconciliation using distributed ledger technology (DLT).

In an interview, Andreas Hauser (from Deutsche Bank) said the mandate for Swift to explore DLT usage in the correspondent banking space originated from the global payments innovation (gpi) community with the aim of fostering collaborative innovation.

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Finovate Alumni News

By David Penn Posted on
Categories: Capsilon, Entrust Datacard, Featurespace, HackerOne, Meniga, TransferWise, Tyro

On Finovate.com

  • Meniga Acquires Swedish Rewards Platform Wrapp.

Around the web

  • Featurespace partners with everis to help the business consultancy’s bank clients fight payment and account fraud.
  • TransferWise opens office in Belgium and applies for money transfer license as insurance against a no-deal Brexit outcome.
  • Hyatt launches bug bounty program with ethical hacker platform HackerOne.
  • Australian business bank Tyro unveils latest Alipay integration with  Sydney Airport retailer Heinemann Australia.
  • Entrust Datacard announces a pair of new board members, Val Rahmani and Cheri McGuire.
  • Capsilon reports that its core technology, Capsilon IQ, helped its clients’ customers save more than five million people hours collectively in 2018.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Enveil, Unbound Tech Bring Data Security Triad to the Enterprise

Enveil, Unbound Tech Bring Data Security Triad to the Enterprise
By David Penn Posted on
Categories: Enveil

Cybersecurity specialist Enveil has partnered with Unbound Tech to bring nation-state level data security to business customers. Together, by securing data-at-rest, data-in-transit, as well as data-in-use, the two companies will offer enterprise clients what it calls “the Data Security Triad” for cybersecurity protection.

“Partnering with innovative leaders like Unbound Tech allows us to push beyond current technology limitations to provide integrated solutions that truly represent the market-rattling, leading edge in data security,” said Ellison Anne Williams, founder and CEO of Enveil. “We recognize the importance of working seamlessly alongside other leading technologies to ensure sensitive data and encryption keys are secure at all times.”

The new solution secures sensitive data at all points in its lifecycle. Enveil’s technology leverages homomorphic encryption to close the data-in-use “exposure gap” that is created when sensitive data is decrypted for use or processing. Williams referred to this gap as the “point of least resistance” for cyberattacks.

Unbound Tech manages cryptographic keys, credentials, and other data to ensure that they never exist anywhere in their complete form. The combination of homomorphic data security and MPC-based encryption key protection, explained Unbound Tech CEO Avner Mor, relieves companies of the burden of needing multiple strategies to deal with data in different states. The solution also helps businesses save money, Mor said, calling the lower administrative and resource overhead an “added bonus.”

Unbound Tech is a Tel Aviv, Israel-based firm founded in 2013. Funded by investors including Citi Ventures, Innovation Endeavors, and Goldman Sachs Principal Strategic Investments, the company won the Prime Minister’s Award for Israeli Innovation for its digital security technology in November.

Enveil demonstrated its data encryption platform at FinovateFall 2017. Founded in 2016 and headquartered in Washington, D.C., Enveil announced in December that its ZeroReveal Compute Fabric, introduced last summer, would be accessible in the Microsoft Azure Marketplace. ZeroReveal Compute Fabric is a two-party platform that supports access to the company’s ZeroReveal solutions to protect data-in-use.

In September, Enveil won a spot on SINET’s 16 Innovators roster for 2018, the same month the company earned international Common Criteria security certification for its ZeroReveal solution. Enveil announced a technology integration with digital security firm Gemalto in August,

Learn more about the company and its founder in our profile from October 2017.

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Fiserv Welcomes A Trio of New Bank Partners

Fiserv Welcomes A Trio of New Bank Partners
By David Penn Posted on
Categories: Fiserv

Fiserv is living the fintech dream as more than 80 of its bank clients have completed a migration to outsourced core processing in the past 24 months.

This heightened state of happiness is set to continue as the company says nearly 60 more are scheduled to make the move in 2019, reports Antony Peyton of Fintech Futures (Finovate’s sister publication).

Three banks in the US have been wheeled out to offer some praise.

“After we moved to outsourced core processing, we asked ourselves what other services we should outsource to ensure customer information was held in a secure data centre. This led us to choose hosted infrastructure as a service and managed services from Fiserv,” said Yvette Hamm, vice-president, information security officer, First State Bank of Uvalde in Texas.

Robert Palmer, president and CEO of Missouri-based Bloomsdale Bank, is addicted to outsourcing love as the decision to move was due in part to the difficulty of finding qualified staff to manage technology in-house.

While for JD Bank in Louisiana, it considered doing it for more than two years before making the decision.

Bavo Gall, JD Bank’s EVP and chief information officer, said: “By outsourcing with Fiserv, we have maintained the flexibility to do what needs to get done.”

The bank moved its core processing, item processing and online banking systems to an outsourced environment over a single weekend in late 2017.

In other news, last week, Mi Bank in Michigan announced it was set to debut early this year. The new financial institution says it will use technology from Fiserv, including the DNA core banking system, to power its launch.

Headquartered in Brookfield, Wisconsin and founded in 1984, Fiserv demonstrated its Commercial Center: Security platform – in partnership with Samsung SDS – at FinovateFall 2017.

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Finovate Alumni News

By David Penn Posted on
Categories: Accenture, BankBazaar, CardFlight, Compass Plus, Enveil

On Finovate.com

  • Enveil, Unbound Tech Bring Data Security Triad to the Enterprise.

Around the web

  • CardFlight teams up with JetPay to give U.S. SMEs broader payment acceptance options.
  • Bahrain-based third-party PSP, SINNAD, launches a new processing platform built on Compass Plus’ TranzWare and TranzAxis.
  • Accenture to acquire management consultancy and technology services provider, Orbium.
  • BankBazaar adds business cards to its online marketplace for financial products courtesy of a partnership with Yes Bank.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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