Core Banking
Backbase | January 12, 2024
Backbase, the global leader in Engagement Banking, has made an agreement with Danske Bank, a leading Nordic bank based in Copenhagen, Denmark.
This agreement provides Danske Bank with access to Backbase's Engagement Banking Platform, which will progressively be implemented across our digital channels in the coming years. This will enable Danske Bank to offer its customers a continuously improved digital customer experience, as the enhanced flexibility allows it to tailor its business operations around customer journeys.
Frans Woelders, Chief Operating Officer at Danske Bank, highlights: “This engagement is a testament to our customer focus and our commitment to ensuring the best digital banking experience for the future. A new platform that works across the web, mobile apps, and our adviser tools is one of the ambitions in Danske Bank’s Forward ’28 strategy, and the agreement with Backbase is the next step towards achieving that ambition.”
Our Engagement Banking Platform plays a pivotal role in achieving
Modernization and simplification of the existing IT landscape by reducing the number of silo-ed channel applications.
Mobile-first engagement model, establishing a customer-centric approach, seamlessly guiding customers between automated and expert advice.
Unified platform, consolidating data, business logic, and workflows into a single, customer-centric platform for efficient journey orchestration, benefiting both customers and bank employees.
Agility and freedom, enhancing flexibility to swiftly implement business capabilities and adapt to evolving market dynamics.
Christian Bornfeld, Head of Personal Customers and Financial Crime Risk and Prevention at Danske Bank, says: “This platform will allow us to take our interaction with customers through our digital solutions to the next level and to introduce enhancements at greater speed than ever before. It will thus enable us to provide market-leading convenience and personalization for our customers with great insights, increased proactivity, and easy access to assistance and advice.”
Jouk Pleiter, Founder and CEO of Backbase, shares, “We are thrilled to announce the engagement with Danske Bank, a visionary collaboration set to redefine the future of banking. Together, we will execute a bank-wide, digital transformation program and elevate Danske Bank's customer experience to new heights.”
About Backbase
Backbase is on a mission to re-architect banking around the customer.
Backbase created the Backbase Engagement Banking Platform – a unified platform with the customer at the center, empowering banks to accelerate their digital transformation. From customer onboarding to servicing, loyalty, and loan origination, our single platform — open and frictionless, with ready-to-go apps — improves every aspect of the customer experience. Built from the ground up with the customer at the heart, our Engagement Banking Platform easily plugs into existing core banking systems and comes pre-integrated with the latest fintechs so financial institutions can innovate at scale.
Industry analysts Forrester, Gartner, Celent, Omdia, and IDC continuously recognize Backbase’s category leadership. Over 120 financials around the world have embraced the Backbase Engagement Banking Platform - including AIB, Banorte, Barclays, BIAT, Bank of the Philippine Islands, BDO, Banque Saudi Fransi, BRD, Citibank, Citizens Bank, Discovery Bank, First National Bank, HDFC, Ila Bank, KeyBank, Lloyds Banking Group, NatWest, Navy Federal Credit Union, OTP Group, PostFinance, Raiffeisen, RBC, Standard Bank, Saudi National Bank, Société Générale, Truist, and TPBank.
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Payments
Plooto | January 16, 2024
Plooto, a leading payment automation solution for small-to-midsized businesses (SMBs), has launched a payment orchestration offering that is custom-designed to support the complex workflows and security requirements of rapidly scaling businesses.
As the size and operational complexity of businesses increase, the risk of fraud and human error grows. This leads businesses to implement more rigorous security and control policies to keep the management of cash flow secure and reliable, placing additional burdens on finance teams including time, effort, and resources spent upgrading or building in-house solutions.
Similar challenges extend to accounting and bookkeeping firms, as their robust compliance processes and corresponding reputation are critical drivers of growth. Firms' ability to retain and expand client accounts hinges not only on strong relationships but also on their adherence to rigorous compliance standards, especially when it comes to financial data protection.
With this launch, Plooto brings to market the first solution in Canada to address these unique cash management challenges faced by midsize enterprises. This offering is priced at a competitive rate as organizations often cite cost as a barrier to adoption of cash management solutions. As volume and complexity of operations increase, businesses can trust Plooto to scale their needs seamlessly without straining their resources.
Coupling end-to-end payment automation with stringent security controls and seamless connection to enterprise resource planning (ERP) solutions, Plooto is now capable of helping even more businesses scale efficiently within their ecosystem.
Building upon Plooto’s core offering of simplified, all-in-one payables and receivables automation, new capabilities include
Dual Controls: Limits human error and protects against fraud through comprehensive approvals on changes to sensitive financial information Single Sign-On: Enterprise-level safeguards that enable security personnel to manage both user access to sensitive data and removal from a centralized hub as teams scale Integration with Oracle Netsuite: Seamless two-way sync automates reconciliation protecting against costly human error, reducing billable hours, and helping finance teams save time
"Our new offering enables finance teams to easily scale their workflows and gain the visibility they crucially need into their cash flow,” says Hamed Abbasi, Co-Founder and CEO of Plooto. “I’m thrilled that Plooto is expanding how we support growing SMBs, and that we are the first company to fill this critical gap for Canadian businesses.”
Having recently been awarded with Deloitte’s Technology Fast 500™ and Technology Fast 50™ designations for a staggering 3-year 433% growth rate, Plooto continues to provide industry-leading support for SMBs with a platform that enhances cash management through its all-in-one payment automation. Plooto has also recently expanded its leadership team, bringing extensive experience from major financial services companies such as Varo Bank, Xero, and PayPal.
About Plooto
Plooto partners with growing small-to-midsize businesses to give them complete control over their cash management. The all-in-one payment automation platform securely automates all payable and receivable workflows, offers extensive payment capabilities, and seamless integration with accounting software to automatically reconcile invoices. Founded in 2015 and headquartered in Toronto, Plooto serves over 10,000 North American businesses, and integrates with top accounting software platforms Quickbooks, Xero, and NetSuite. Simplifying complex processes at scale, Plooto is the financial engine businesses rely on to achieve their growth potential.
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Financial Management, Payments
TerraPay | January 09, 2024
Orange Finances Money Mali, a leading Electronic Money Establishment and subsidiary of Orange Mali, is proud to announce a groundbreaking partnership with TerraPay, a global cross-border payments network with an extensive reach. This partnership marks a significant milestone in the digital financial landscape for Mali, connecting over 12 Million Malians to the vast diaspora residing across the globe, including other African countries.
Bringing together Orange Finances Money Mali's commitment to promoting financial inclusion and TerraPay's proven expertise in facilitating secure cross-border payments, this partnership is set to empower Malians with innovative and seamless financial services.
Financial inclusion continues to be one of the biggest challenges across West Africa and Orange Finances Money Mali has been dedicated to bridging this gap by striving to boost accessibility and inclusion through their services. One of the key highlights of this alliance is the ease with which Orange Money Mali customers can either cash out the funds received in their wallets or directly use them for everyday needs, including bill payments, supermarket purchases, and person-to-person transfers.
Orange Finances Money is dedicated to issuing, managing, and distributing electronic money under the Orange Money brand in Mali.
Djeneba Tandjigora, Chief of Transfer Services and Core Business at Orange Finances Money Mali, expressed his enthusiasm about the collaboration, stating, "Orange Money Mali customers can now receive money transfers from several countries using TerraPay's global network. This strategic collaboration simplifies transactions making them quick and secure, enhances the customer experience for Orange Money users and strengthens financial inclusion in Mali."
Amel Kane, Regional Sales Manager Francophone West Africa at TerraPay, views this collaboration as an opportunity to enhance the quality of service and customer satisfaction. "With a direct connection to Orange Finances Money Mali, TerraPay can ensure a seamless cross-border payment experience, reducing operational issues and providing prompt assistance to our partner's clients. This collaboration reinforces our commitment to expanding our direct rails and continually improving our service offerings," stated Amel.
Combining Orange Finances Money Mali's rapidly growing client database and TerraPay's wide network spanning 120+ receive countries, 210+ send countries, 7.5Bn+ bank accounts, and 2.1Bn+ mobile wallets – this partnership is poised to make a significant impact on the region's digital and financial services landscape.
Partnering with Mali's biggest mobile money operator enables TerraPay to stay true to its commitment to quality and provide the best cross-border payment services in the region. Orange Finances Money Mali and TerraPay's strategic partnership not only strengthens connectivity between Mali and the global financial network but also positions both entities for accelerated growth in the digital payments landscape. The convenience and accessibility offered by this collaboration will undoubtedly benefit industry players, the public, customers, and merchants alike.
About TerraPay
TerraPay simplifies the movement of money everywhere – providing a single connection to the most expansive cross-border payments network regulated in 29 global markets and enabling payments to 120+ receive countries, 210+ send countries, 7.5Bn+ bank accounts and 2.1Bn+ mobile wallets. TerraPay is on a mission to connect a borderless financial world, making moving money everywhere instant, reliable, transparent and fully compliant. TerraPay pushes the boundaries for global businesses – ranging from banks, fintechs and money-transfer operators to travel businesses, creator economy platforms and e-commerce marketplaces – while driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is headquartered in London, with global offices in Bangalore, Dubai, Miami, Bogota, Dar es Salaam, Kampala, Hague, Dakar, Joburg, Nairobi, Milan, Singapore and is expanding rapidly, having received funding from leading investors, including the IFC (the World Bank), Prime Ventures, Partech Africa and Visa.
About Orange Finances Money Mali
Orange Finances Money Mali is an Electronic Money Establishment, subsidiary of Orange Mali and approved by the Central Bank of West African States. Created in 2015, the company guarantees the issuance, management, and distribution of electronic money under the Orange Money brand in Mali.
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