Fintech – Page 91

Former Investment Banker and Head of Investment Strategy at Man Group joins Fintech PremiaLab

January 20, 2021 Published by TheFintechBuzz.com

PremiaLab, has today announced the appointment of Mr. Fest as CFO as part of its expansion global expansion. Mr. Fest served as Head of Investment Strategy at Man Group, and held senior positions at Barclays Investment Bank and Mckinsey.

Previously, Mr. Fest was CFO of Fintech Ebury from May 2019 (majority aquired by Banco Santander) and Molo Tech, the UK’s first digital mortgage lender.

Mr. Fest has over 15 years’ investment banking experience in asset management, capital markets and Fintech. He will be responsible for further supporting the firm’s growth in multiple locations across Asia, Europe and the US.

Adrien Geliot, Co-Founder & Chief Executive Officer of PremiaLab said: “We are delighted to welcome Martin to the team. His extensive industry expertise will allow us to further structure our business in multiple locations globally and deploy our ambitious growth strategy.”

The hire follows multiple senior appointements within PremiaLab including John Macpherson former Managing Director at Goldman Sachs, Nomura and Citibank.

Recognized as the reference for data and risk analytics on quantitative strategies, PremiaLab’s capital markets infrastructure is used by leading asset managers, insurance companies and pensions funds to accelerate their digitalization to enhance performance and risk controls while reducing costs.

Mr. Fest holds an MBA from INSEAD and a diploma in engineering, finance and controlling from Technische Universität Braunschweig.

2021 a Tipping Point for Institutional Investors and Digital Assets

January 20, 2021 Published by TheFintechBuzz.com

HashKey Group, a leader in digital asset management and blockchain solutions, predicts that more than 50% of institutional and professional investors will have exposure to digital assets in their portfolios by year end. This would mark 2021 as a tipping point where investors go from evaluating the opportunity to acting. Large-scale government spending worldwide in the pandemic to support economic recovery and the evolving global regulatory framework are the primary reasons cited by investors diversifying into this growing asset class.

HashKey Group recently published its report entitled “Institutional Investor and Digital Assets. First Mover Advantage: What Early Adopters Have Learned” which shares insights from in-depth interviews conducted with institutional investment leaders from around the world.

According to the report, institutional investors expressed fear that they may miss out on potentially exponential growth if they do not adopt digital assets now. They cited the long-term investment opportunities that exist in many forms of asset tokenization, ranging from virtual currencies to infrastructure such as platforms and applications — and growth – as among the reasons to consider the asset class. The total market capitalization of digital assets is just US$260 billion, relatively small compared to other traditional assets[i].

However, globally the digital asset market has tremendous growth potential, and is expected to grow from US$3.4 billion in 2020 to US$6.0 billion by 2025, at a CAGR of 12.0%[ii]. In the HashKey Group report, some first mover investors highlighted the value of investing early to gain knowledge and experience to prepare for the wave.

Michel Lee, Executive President of HashKey Group said, “As an indication of the interest institutional investors have in this asset class, the inflow of institutional funds has contributed to the fluctuation of the prices of some virtual currencies in recent months.”

Lee said, “However, the digital asset class spans much more than just virtual currencies. There are tokenized equities and tokenized bonds and digital economy tokens. Institutional investors are also interested in these subcategories. Our report identifies corporate risk aversion, evolving regulatory frameworks, and perceived lack of supporting infrastructure as factors they consider carefully before adding exposure to digital assets to their portfolios.”

The Securities and Futures Commission (SFC) in Hong Kong announced in November 2020 that it will regulate all digital asset exchanges and trading to prevent market manipulation and money-laundering activities.

Angelina Kwan, Chief Operating Officer of HashKey Group said, “Many institutional investors are themselves regulated and have a fiduciary duty to fulfill. The new SFC regulations will enable more transparency, since only licensed operators can offer regulated virtual assets services and only professional investors can participate. As infrastructure is developed and regulation increases, institutional investors will become more confident about digital asset investment.”

Kwan adds, “In addition to digital currency, custody, trading platforms and security solutions are other digital asset investment opportunities that are more familiar to institutional investors. The development of the digital asset infrastructure in many ways mirrors the way traditional financial services infrastructure grew and matured. That trend makes institutional investors more comfortable as they consider digital asset investment opportunities.”

The Greater Bay Area (GBA) integration is another strategic initiative that could help to accelerate the adoption of digital assets by institutional investors. Hong Kong, as an international financial hub, plays a critical role in facilitating global trading, and is stimulated by innovative Chinese technology and payment solutions. For example, China selected Hong Kong to launch the test for its digital yuan (digital version of China’s fiat currency), because it is the “most open and international city” in the GBA[iii]. An enhanced regulatory framework now being put in place here in Hong Kong will help nurture the digital assets ecosystem in the region.

Michel Lee said, “2021 is a strategic time for institutional investors to consider adding exposure to digital assets in their portfolios. Concern about the long-term future is redoubling investor interest in uncorrelated, more diversified asset classes. Once regulations are established and clarified, institutional investors can leverage Hong Kong as a strategic hub to capture the opportunities. To maximize their potential, they should work with professional partners with proven expertise and track records.”

Broadridge Schedules Webcast And Investor Conference Call To Review Second Quarter Fiscal Year 2021 Results On February 2, 2021

January 19, 2021 Published by TheFintechBuzz.com

Broadridge Financial Solutions, Inc. (NYSE:BR) is scheduled to release its financial results for the fiscal second quarter and the six months ended December 31, 2020 of fiscal year 2021 on Tuesday, February 2, 2021.

Broadridge will host a webcast and conference call at 8:30 a.m. ET on February 2, 2021, to discuss the results for the second quarter of fiscal year 2021. Tim Gokey, Chief Executive Officer, and Edmund Reese, Chief Financial Officer, will participate on the call.

To listen to the live event and access the slide presentation, visit Broadridge’s Investor Relations website at www.broadridge-ir.com prior to the start of the webcast. To listen to the call, investors may also dial 1-877-328-2502 within the United States and international callers may dial 1-412-317-5419.

A replay of the webcast will be available and can be accessed in the same manner as the live webcast at the Broadridge Investor Relations website. Through February 16, 2020, the recording will also be available by dialing 1-877-344-7529 passcode: 10150640 within the United States or 1-412-317-0088 passcode: 10150640 for international callers.

Micro Lending Market to Reach $343.84 Bn, Globally, by 2027 at 12.6% CAGR: Allied Market Research

January 19, 2021 Published by TheFintechBuzz.com

Allied Market Research published a report titled, “Micro lending Market by Service Provider (Banks, Micro Finance Institute (MFI), NBFC (Non-Banking Financial Institutions) and Others), and End User (Solo Entrepreneurs & Individual, Micro Enterprises and Small Enterprises): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global micro lending industry was estimated at $134.35 billion in 2019, and is expected to hit $343.84 billion by 2027, registering a CAGR of 12.6% from 2020 to 2027.

Drivers, restraints, and opportunities-

Rise in adoption of micro lending in developing nations for improving lifestyle, shift from traditional lending to micro lending, and lesser operating cost and low market risks fuel the growth of the global micro lending market. On the other hand, high interest on small amount and shorter repayment time provided by micro lenders impede the growth to some extent. However, adoption of advance technology in micro financing is expected to create lucrative opportunities for the key players in the industry.

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/6368

Covid-19 scenario-

The outbreak of the pandemic led to shutdown of a number of micro and small businesses, thereby impacting the global micro lending market negatively.
At the same time, the worldwide pandemic situation also affected the cash flow of several business operations, which in turn paved the way for growth opportunities for the key players in the industry.

The banks segment to dominate during the forecast period-

Based on providers, the banks segment accounted for nearly half of the global micro lending market share in 2019, and is expected to lead the trail by the end of 2027. Growing adoption of micro lending services among various banks and fintech industries drives the segment growth. The Micro Finance Institute (MFI) segment, on the other hand, would grow at the fastest CAGR of 14.0% throughout the forecast period. Surge in need of micro loans among individuals drives the growth of the segment.

Enquire For More: https://www.alliedmarketresearch.com/purchase-enquiry/6368

The small enterprises segment to maintain the lion’s share by 2027-

Based on end user, the small enterprises segment contributed to nearly two-fifths of the global micro lending market revenue in 2019, and is expected to rule the roost by 2027. Rise in number of small businesses across the developing nations of LAEMA and Asia-Pacific propels the growth of the segment. Simultaneously, the solo entrepreneurs or self-employed segment would manifest the fastest CAGR of 13.9% from 2020 to 2027, due to rapid adoption of micro lending among individuals for financial stability.

Asia-Pacific garnered the major share in 2019, North America to grow at a moderate CAGR-

Based on geography, Asia-Pacific garnered the major share in 2019, holding around half of the global micro lending market. The same region would also showcase the fastest CAGR of 13.0% by 2027. This is attributed to surge in favorable government policies for micro funding and presence of major players in the province. However, North America would exhibit a CAGR of 11.8% during the forecast period.

Customized Report: https://www.alliedmarketresearch.com/request-for-customization/6368

Frontrunners in the industry-

Accion International
BlueVine, Inc.
Fundera, Inc.
Funding Circle
Kabbage, Inc.
Kiva
Lendio
LENDR
OnDeck
StreetShares, Inc.

Access AVENUE – A Subscription-Based Library (Premium On-Demand, Subscription-Based Pricing Model) @ https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world’s largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request For 14 Days Free Trial of Before Buying:

https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Reports:

Digital Lending Platform Market By Component (Software and Service), Deployment Model (On-Premise and Cloud), Type (Decision Automation, Collections & Recovery, Loan Processing, Risk & Compliance Management, and Others), and Industry Vertical (Banks, Insurance Companies, Credit Unions, Savings & Loan Associations, Peer-to-Peer Lending, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

Peer to Peer Lending Market By Business Model (Alternate Marketplace Lending and Traditional Lending), Type (Consumer Lending and Business Lending), and End User (Consumer Credit Loans, Small Business Loans, Student Loans, and Real Estate Loans): Global Opportunity Analysis and Industry Forecast, 2020-2027

Contactless Payment Market by Device Type (Smartphones & Wearables, Smart Cards and Point-of-sale (POS) Terminals), Application (Food & Groceries, Pharmacy & Drug Stores, Restaurants & Bars, Consumer Electronics, Media & Entertainment and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

Extended Warranty Market by Coverage (Standard Protection Plan and Accidental Protection Plan), Application (Automobiles, Consumer Electronics, Home Appliances, Mobile Devices & PCs, and Others), Distribution Channel (Manufacturers, Retailers, and Others), and End User (Business and Individuals): Global Opportunity Analysis and Industry Forecast, 2020–2027

ATM Managed Services Market by Service Type (ATM Replenishment & Currency Management, Network Management, Security Management, Incident Management, and Others), and ATM Location (Onsite ATMs, Offsite ATMs, Worksite ATMs, and Mobile ATMs): Global Opportunity Analysis and Industry Forecast, 2020–2027

Neo and Challenger Bank Market by Service Type (Loans, Mobile Banking, Checking & Savings Account, Payment & Money Transfer, and Others) and End User (Business and Personal): Global Opportunity Analysis and Industry Forecast, 2020–2027

Pre-Book Now with 10% Discount:

P2P Payment Market by Transaction Mode (NFC/Smartcard, SMS, and Mobile Apps), Location (Remote payments and Proximity payments), Type of Purchase (Airtime transfer & Top-Ups, Money transfers & Payments, Merchandise & Coupons, and Travel & Ticketing), and Applications (Retail Payments, Travels & Hospitality Payments, Transportation & Logistics Payments, Energy & Utilities Payments, and Others) – Global Opportunity Analysis and Industry Forecast, 2020-2027

B2B Payments Market by Component (Software and Service), Enterprise Size (Large Enterprises and Small & Medium Enterprises), Application (Payment Processing, Transactions, and Bill Payments), and Industry Vertical (Retail & E-Commerce, BFSI, Government, Healthcare, Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast-2020-2027

NFC Payments Market by Component (Solution and Service), Technology (Radio Frequency Identification, Near Field Communication and Host Card Emulation), Payment Mode (Smartphones, Smartcards and Others), and Industry Vertical (Retail, Healthcare, Hospitality, Energy & Utilities, Transportation & Logistics, BFSI, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027

E-Commerce Payments Market by Type (Credit Card, Debit Card, Digital Payment/E-Wallet, Net Banking, and Others) and Application (Fashion Accessories, Electronics & Media, Food & Personal Care, Furniture & Appliances, and Others): Global Opportunity Analysis and Industry Forecast 2020-2027

LendingClub Announces Transformation of its Board of Directors

January 19, 2021 Published by TheFintechBuzz.com

LendingClub Corporation (NYSE: LC), America’s leading online lending marketplace connecting borrowers and investors, today announced that Al Landon, Erin Selleck and LendingClub’s chief financial officer, Tom Casey, will join as the newest members of its Board of Directors at the completion of the acquisition of digital bank Radius Bancorp (“Radius”), which the company expects to occur on or around February 1, 2021, subject to completion or waiver of the remaining customary closing conditions.

Simultaneously, Dan Ciporin, former general partner at Canaan Partners, and Ken Denman, former president & chief executive officer of Emotient, have decided to resign from LendingClub’s Board of Directors, each effective at the completion of the acquisition of Radius.

In addition, Simon Williams has decided that he will step down at the conclusion of LendingClub’s 2021 annual stockholders meeting. With this decision Simon, who is a veteran financial services and fintech exec, is completing a long and dedicated service and leadership term with LendingClub that began in 2009.

The board transformation comes as LendingClub has received all the bank regulatory approvals necessary to complete its acquisition of Radius and become the first U.S. public neobank, poised to reimagine banking for everyday Americans.

“We were looking for new board members with the expertise and insights that will support us as we transform the company and embark on our next chapter of growth. We are excited to welcome Al and Erin to the board given their demonstrated success and wealth of experience in the financial services industry,” said Scott Sanborn, LendingClub’s CEO. “With Dan, Ken and Simon wrapping up their board tenure, I’d like to thank them personally for their support and belief in our mission to empower members on their path to financial success. I am extremely grateful for their commitment, guidance and partnership as we transformed LendingClub and wish them each well on their next endeavors.”

Long-serving board member Mr. Ciporin added, “For more than 13 years I have been part of the LendingClub journey from a small startup to today’s publicly traded industry leader, helping millions of customers seamlessly access lower cost credit. I can’t wait to see what this team does next.”

Mr. Landon is an investor, advisor and director of start-up businesses with over 30-years of experience in the financial services industry. Currently, Mr. Landon is the assistant dean and adjunct professor at the David Eccles School of Business at the University of Utah. He is also a member of the National Board of the Smithsonian Institution and the PBS Foundation in Washington, D.C., serves as vice chair of the Utah Museum of Fine Arts and is a member of the advisory board of PBS Utah. Previously, he served on the board of several financial institutions, including State Farm Insurance. He also held prominent roles as chairman and CEO of Bank of Hawaii and served as a partner with Ernst & Young. In January 2015, President Obama nominated Landon to serve on the Board of Governors of the Federal Reserve System. Mr. Landon will serve on LendingClub’s Audit, Credit Risk and Finance, and Compensation Committees.

“Now that the company is becoming a bank holding company, they can build on LendingClub’s credit and data expertise to develop new capabilities that seamlessly blend savings and credit – transforming the experience for our customers,” said Mr. Landon. “I’m looking forward to sharing my experience as LendingClub continues to innovate on behalf of our members.”

Ms. Selleck is an experienced financial executive, advisor, and corporate director who is a current member of the Board of Directors of Broadway Financial Corp and its subsidiary, Broadway Federal Bank, where she serves as chair of the Audit Committee, and member of the Risk/Compliance and Loan Committees. Prior to becoming a director and advisor, Ms. Selleck had a successful 30-year career in the financial services industry and served as the senior executive vice president and treasurer for Union Bank, a top-25 U. S. bank and a key subsidiary of Japan’s Mitsubishi UFJ Financial Group (MUFG), one of the world’s largest financial organizations. Ms. Selleck will serve on LendingClub’s Audit, Credit Risk and Finance, and Operational Risk Committees.

“What drew me to LendingClub is its unique business model and its intent to help people reach their financial goals, which will only be enhanced as it becomes a bank holding company,” said Ms. Selleck. “I’m excited to provide my expertise to help improve the financial health of all Americans.”

The appointment of Ms. Selleck, Mr. Landon and Mr. Casey signals a new era for the company as it embarks on its journey to offer a broad range of financial products and services through a technology and data-driven platform, designed to help Americans pay less when borrowing and earn more when saving.

Cushon launches the world’s first Net Zero pension

January 19, 2021 Published by TheFintechBuzz.com

Cushon, the fintech workplace savings disrupter, today announces the launch of the world’s first net zero pension.

The launch responds to growing demand from employees who are increasingly concerned about the impact of their pensions on climate change. Recent research from Cushon^[1] showed that 68.6% of employees are concerned that their company pension could be investing in businesses that are contributing to the climate crisis. 87.9% of employees want their employer to take action to address this, for instance moving to a pension provider that’s making a positive impact on climate change (39.8%).

Choosing to use a climate-friendly pension provider is an easy way for businesses to significantly reduce their employees’ contribution to global warming. Cushon’s Net Zero pension will enable employers to help their people contribute to the deceleration of climate change quickly, easily and meaningfully via the choices they make for their company pension. In so doing, they will help to protect our environment and align towards the Paris Climate Agreement and a 1.5 degree world.

Cushon’s pension is the first of its kind in that it is Net Zero now – not later – unlike competitors in the market adopting long-reaching targets to achieve the same status by 2030 or even 2050.

Each year, the average UK pension member unknowingly finances 23 tonnes of CO2 emissions^[2] through the businesses their pension invests in. That’s the equivalent of running either nine family cars each year, using 940 gas propane cylinders, or burning 1,100 coal fires annually, simply as a by-product of saving for retirement. Investors would need to recycle for 19 years, or plant 30 acres of new forest to counteract these effects.^[3]

While there are a number of pension investment funds claiming to be socially responsible, these funds often come with higher charges and are still a long way away from being net zero – a target set by the UK Government to be met by 2050. Cushon’s pension is Net Zero right from the get-go.

A big plus for employers is that a move to a Net Zero pension would also increase employee engagement rates. Cushon’s research shows that 62.4%[4] would engage more with their pension if they knew it was making a positive impact on climate change. To further boost engagement, Cushon is also launching a new app which allows members to see all their pensions, other savings and investments in one place. It’s fully transactional, and employees can change contributions and transfer in other pension and investment pots.

Commenting on the launch, Ben Pollard, Founder & CEO, Cushon, said: “At Cushon, we know that people want their retirement savings to help tackle climate change without sacrificing returns. We wanted to find a very real way of making this work by delivering a pension that is Net Zero now. By choosing a Net Zero pension, employers are helping their employees have a direct and significant impact on climate change. The demand that we have already seen for our Net Zero pension is testament to this and we are now working towards being able to offer the same philosophy through our other product offerings. We’re so excited to be able to bring all of these products together so that our customers can see and manage all their investments together in an intuitive and engaging user interface.

“The idea of Net Zero investing is shamefully poorly developed within the fund management industry. We work with three of the largest fund managers in the world, and only one of them was even able to tell us the CO2 emission levels of their funds. To ensure there is no impact on returns, having reduced the emissions financed by the funds as far as possible via solutions that are currently available ‘off the shelf’ from our fund managers, Cushon is paying to offset any residual emissions out of the company’s own money. We have worked with Vertree to select a range of Verified Carbon Standard (VCS) projects, with 75% of projects being triple, double or single gold rated under the Climate, Community and Biodiversity (CCB) Standard.”

Supporting the launch, Richard Curtis, Co-Founder of Make My Money Matter, said: “The launch of a pension that is net zero now – not later – shows what is possible from the pensions industry when tackling the climate emergency is taken seriously. This new pension, with robust sustainability credentials, will be the first of its kind and so we are delighted to partner with Cushon as they continue to integrate environmental criteria across the board.

“This is the kind of leadership that the pension industry – and world – needs in the years ahead as we look to transition to a green economy post Covid-19. With COP26 taking place in Glasgow next year, all eyes are set to be on the UK and its environmental credentials, so it is great to have firms like Cushon taking concrete steps to address the climate crisis, which should hopefully incentivise more providers across the industry to follow suit.”

Advisor Group Expands Technology Leadership With Appointment Of Peter Clemson As Senior Vice President, Digital Solutions

January 14, 2021 Published by TheFintechBuzz.com

Advisor Group, the nation’s largest network of independent wealth management firms, today announced the appointment of Peter Clemson, a 25-year veteran of the financial technology space, to the newly created position of Senior Vice President, Digital Solutions, effective immediately, reporting directly to Cindy Hamel, Chief Strategy & Corporate Development Officer. Mr. Clemson will spearhead Advisor Group’s continued buildout of digital solutions, such as the industry-leading eQuipt platform, emphasizing technology that enables collaboration and focuses on the ease of doing business for financial professionals and increasingly tech-savvy clients.

Ms. Hamel said, “Our appointment of Peter Clemson to lead our Digital Solutions strategy is the next step in our journey of building technology that helps financial professionals elevate their productivity while strengthening engagement and collaboration with their clients. Peter brings decades of leadership at the intersection of wealth management, technology and client service at some of the largest and most well-known companies in our industry, enabling him to play a crucial strategic role in developing digital solutions that are user-friendly and transformative.”

Most recently, Mr. Clemson was CEO and co-founder of Evati Inc., a Chicago-based provider of digital investment advisory platforms. Previously, he was senior vice president of client experience technology at Charles Schwab & Co., overseeing the development and implementation of digital solutions to support the delivery of a robust service experience. Mr. Clemson holds an undergraduate degree in economics from the University of Virginia and an MBA from the Kellogg School of Management at Northwestern University.

Mr. Clemson said, “I’m thrilled to join Advisor Group, a company that stands out for its scale and continuous investment in technology. As a firm that leverages a third-party clearing model, Advisor Group has created an exceptionally nimble technology architecture, unburdened with legacy operating structures and unnecessary recurring costs. As a result, the company is uniquely well-positioned for rapid development, customization and deployment of innovative technologies that drive success for financial professionals. I’m excited to be part of one of the fastest-growing, entrepreneurial firms in the wealth management industry, with a proven commitment to driving innovation and productivity for financial professionals.”

Mr. Clemson’s primary responsibilities include:

Developing a strategy for Advisor Group’s next generation of best-in-class digital solutions and leading internal stakeholders in its execution
Delivering digital tools and systems that connect clients to holistic financial solutions leveraging Advisor Group’s brokerage and investment advisory platforms
Leading the development of financial professional- and client-facing technology platforms, with delivery through Advisor Group’s websites and mobile applications

Advisor Group President and CEO Jamie Price said, “We’re excited to welcome Peter Clemson, a widely recognized fintech and digital experience leader, to our company. Peter joins a management team that includes other veteran Schwab executives and technology leaders, including our Chief Technology Officer, Ed Obuchowski, who have created an incredibly strong and flexible foundation for technology innovation, including our award-winning platform for digital client onboarding and management, eQuipt. The market volatility and economic disruption we’ve experienced this past year has reinforced the importance of ongoing technology innovation that deepens engagement between financial professionals and their clients. Peter’s proven ability to identify and develop the most cutting edge fintech solutions will further drive the broader value that we deliver to our financial professionals and their clients.”

Checkout.com Triples Valuation to $15bn with $450m Series C Fundraise, Accelerating Global Expansion

January 13, 2021 Published by TheFintechBuzz.com

Checkout.com, the leading Connected Payments solutions provider, today announced that it closed a $450 million Series C fundraising round. This gives the business a post-money valuation of $15 billion, making it the fourth largest fintech globally and EMEA’s most valuable venture-backed business⁽¹⁾, as the business continues to expand across the globe.

The Series C was led by Tiger Global Management, LLC, a New York-based technology investor that partners with dynamic entrepreneurs operating market-leading growth companies, including Facebook, LinkedIn, Spotify, ByteDance, and JD.com. Greenoaks Capital also joined the round along with participation from existing investors Insight Partners, DST Global, Coatue Management, Blossom Capital, Endeavor Catalyst, and Singapore’s Sovereign Wealth Fund GIC.

Guillaume Pousaz, CEO and Founder of Checkout.com said: “Payments affect everything from the customer journey to a business’s ability to enter new markets or launch new products. This latest fundraise reflects our market-leading position and the size of our aspirations as we accelerate in our mission to empower merchants to build better products, drive more revenue and create innovative business models by reimagining interactions with financial services. Our new investors bring a wealth of experience across payments, technology and scaling companies – crucial knowledge for the next stage of our growth, as we continue to build our vision for the future of Connected Finance.”

Investing in the Future of Payments

Research from McKinsey & Company highlights the scale of the payments opportunity, with total global payments revenue reaching just under $2 trillion in 2019⁽²⁾. Meanwhile a recent report from Checkout.com in partnership with Oxford Economics⁽³⁾ revealed the scale of the challenge that many merchants face, with $20.3 billion lost to false declines in payments in 2019 alone and more than $12.7 billion handed from first choice merchants to their competitors. Additionally, customers who gave up on their intended online purchase completely resulted in more than $7.6 billion of missed opportunity for merchants. Checkout.com addresses these issues by giving enterprise businesses the most proactive tools to drive best-in-class performance and more control through advanced data features, fraud management tools, and comprehensive reporting.

The fundraise comes as the global economy looks beyond the COVID-19 pandemic. While many organizations have historically relied on one-size-fits all payment systems, the need to drive improved performance, gain transparency across payments and extract valuable information from data is increasingly becoming a competitive differentiator. Checkout.com’s cloud-based unified platform enables merchants to manage payins and payouts at scale, while achieving better performance and improved acceptance rates globally. Leading ecommerce businesses such as Farfetch, Mango, Victoria’s Secret, L’Occitane and The Hut Group depend on Checkout.com for a fast, reliable, adaptable and safe platform that gives granular access to the data and pricing behind every transaction.

While Checkout.com’s profits from current operations will continue to be reinvested to power future growth, the new funding will be used to further grow its balance sheet and drive new innovative opportunities. With a total of $830 million raised within the last two years, Checkout.com’s readily available cash represents one of the strongest balance sheets across all global fintechs. This further strengthens the company’s resilience as a regulated entity in numerous markets and as the financial partner to its merchants. It also allows for continued strategic investments and product developments, like the Checkout.com Payouts solution which saw exponential growth over the last year.

Checkout.com Unveils North American Headquarters

In addition to today’s Series C funding announcement, Checkout.com is announcing the opening of its New York City office. The company first launched in the U.S. in 2017 and has operations in San Francisco. Together, the bicoastal offices will power the organization’s ability to meet the growing demand in the U.S. for Connected Payments solutions, as Checkout.com increases its focus on serving U.S.-based enterprises in domestic, global and cross-border payments. The company is also announcing an office in Denver. Globally, Checkout.com will hire an additional 700 people across all its locations in 2021.

Checkout.com’s transformative approach to payments and payouts has garnered its reputation as the most trusted technology provider behind many of the most valuable fintechs and cutting-edge businesses, including Klarna, Revolut, Transferwise, Coinbase, and eToro. With a platform that can support both best-performing global payments and payouts, Checkout.com has become the backbone of the world-beating progressive business models, among the leading fintechs, streaming services, and marketplaces.

Scott Shleifer, Partner at Tiger Global Management said: “We are excited to partner with Guillaume and Checkout.com as they continue to build an innovative global payments and financial services platform trusted by leading internet companies. We believe the shift to digital commerce is still in the early stages, and Checkout.com’s focus on developing a best-in-class technology platform has positioned them to be a leader in the industry for years to come.”

In June 2020, Checkout.com announced its Series B which valued the business at $5.5bn and was led by technology fund Coatue Management. In 2020, it also announced the acquisitions of ProcessOut and PinPayments, as well as a strategic investment in Thunes.

Former Head of Listed Derivatives at Goldman Sachs, Nomura and Citi joins Fintech PremiaLab

January 13, 2021 Published by TheFintechBuzz.com

PremiaLab, has today announced the appointment of Mr. John Macpherson as Senior Advisor as part of its expansion in Europe. Mr. Macpherson served as Managing Director at Goldman Sachs from 2004 until 2013, then Nomura and Citibank as global head of listed derivatives.

Mr. Macpherson was appointed CEO of BMLL Technologies in 2016, resigning from the firm in August 2019.

Mr. Macpherson has over 20 years’ investment banking experience in capital markets and derivatives strategies. He will be responsible for further supporting the firm’s business development efforts in Europe, specifically leveraging insights from PremiaLab unique dataset on quantitative investment strategies.

Adrien Geliot, Co-Founder and Chief Executive Officer of PremiaLab said: “We are delighted to welcome John to the team. His extensive expertise in derivatives combined with deep understanding of institutional investors will allow us to further scale our commercial presence and deploy our ambitious growth strategy.”

Mr. Macpherson will join the advisory board alongside Mr. Daniel Fields, former global head of markets at Societe Generale who joined the firm in July 2019.

Mr. Macpherson is Deputy Chair of the UK Investment Association Engine platform.

New AI Platform Provides Proxy Voting Data from Broadridge

January 12, 2021 Published by TheFintechBuzz.com

Broadridge Financial Solutions, Inc. (NYSE: BR), a global Fintech leader, has launched Broadridge Proxy Policies & Insights (PPI) Data, a first-of-its-kind comprehensive platform providing an open data-feed of proxy voting data and analytics. This new platform, which will leverage Machine Learning (ML) services from Amazon Web Services (AWS), provides broker-dealers, institutional investors, mutual funds, retail investors, regulators and academics with access to over 5 million proxy voting data points, from more than 85,000 meeting agendas and a wide coverage of regulatory documents.

For broker-dealers, PPI Data provides an opportunity to differentiate their customers’ experience in the broker’s app or website by making it simple and easy for passionate investors to be aware of, for example, ESG proxy proposals that impact the future of their investments. Broadridge PPI Data can be used by broker-dealers to provide content to retail shareholders during the voter experience, as well as engage investors with insights on top-of-mind proxy proposals. For institutions, it provides an independent set of proxy voting data that can inform voting without providing voting recommendations. For retail investors, it provides better data to inform them how they can make a difference through voting their shares.

“Broadridge is providing the industry with better data to increase and inform proxy voting by leveraging AWS machine learning solutions,” said Martin Koopman, President, Bank Broker-Dealer Investor Communications Solutions at Broadridge. “Broadridge PPI Data is a great example of applying technology to increase voting by retail shareholders, for brokers to engage with their customers, and for institutional investors to inform their voting. We see AWS as a preferred cloud provider in our drive to improve and transform corporate governance by creating next-gen tools.”

Broadridge PPI Data can be used to create push notifications based on the retail investors’ proposal category preference (i.e., climate change, board diversity, etc.). The broker-dealer can then highlight securities with upcoming proxy proposals that match those preferences. The platform enables broker-dealers to provide retail investors with a quick and personalized voting experience with a goal of increasing voter participation. AI/ML capabilities of the platform allow faster automated information processing so that shareholders receive more information faster than prior manual processes. Furthermore, AI/ML allows the platform to predict likely contentious votes, allowing shareholders to focus on meetings where their votes may be critical.

Broadridge is rolling out this new platform ahead of the 2021 proxy season, leveraging solutions like Amazon Comprehend, a natural language processing (NLP) service that uses machine learning to find insights and relationships in text. Among other features, the platform automates data extraction from key SEC regulatory filings, specifically proxy statements and Form N-PX proxy voting records. Broadridge plans to include additional regulatory filings on the platform in the future.

“Broadridge continues to bring solutions to market that differentiate the investors’ experience, and Broadridge PPI Data is the most recent example of how they’re meeting the industry’s evolving needs,” said Scott Mullins, Managing Director, Worldwide Financial Services Business Development at Amazon Web Services, Inc. “We are excited to support Broadridge as they leverage AWS to deliver data to investors faster, who can than act on critical information. We look forward to our continued collaboration with Broadridge across their machine learning and digital innovation initiatives.”

Free for Regulators, Academics and Non-Profits

Broadridge PPI Data will be made available to regulators, educational and qualified non-profit organizations for free. These regulators, academic and non-profits can leverage the platform to review historical proxy policy and votes, which may lead to optimal regulatory policy, a better understanding of how institutions vote, and more transparency on the outcomes of proxy voting.

PPI is a service Broadridge provides institutional investors through ProxyEdge. Institutional investors can view critical information related to shareholder meetings, build customized data-driven voting guidelines based on their internal proxy policies, or the historical voting patterns of top-rated ESG funds, or the Top 50 Institutions based on AUM. Broadridge does not provide voting recommendations.

Tag: Fintech

Former Investment Banker and Head of Investment Strategy at Man Group joins Fintech PremiaLab

2021 a Tipping Point for Institutional Investors and Digital Assets

Broadridge Schedules Webcast And Investor Conference Call To Review Second Quarter Fiscal Year 2021 Results On February 2, 2021

Micro Lending Market to Reach $343.84 Bn, Globally, by 2027 at 12.6% CAGR: Allied Market Research

LendingClub Announces Transformation of its Board of Directors

Cushon launches the world’s first Net Zero pension

Advisor Group Expands Technology Leadership With Appointment Of Peter Clemson As Senior Vice President, Digital Solutions

Checkout.com Triples Valuation to $15bn with $450m Series C Fundraise, Accelerating Global Expansion

Former Head of Listed Derivatives at Goldman Sachs, Nomura and Citi joins Fintech PremiaLab

New AI Platform Provides Proxy Voting Data from Broadridge

Latest Members

Who is online

Latest Hashtags