CORE BANKING,FINTECH
Inswitch and Mastercard | September 30, 2022
Inswitch, a fintech technology company with focus on embedded solutions for banking and payments, and Mastercard International Incorporated have partnered to design and deliver digital payment solutions and issuing programs starting with selected countries across LAC.
Inswitch will start issuing cards as a Mastercard principal member in Mexico, with plans to expand quickly to key markets in LAC and other regions in the future. This collaboration will allow the company to extend its value proposition by offering digital and physical Mastercard branded cards for a broad range of applications across industries: Now our clients can issue branded cards to support different use cases: digital wallets, Buy now pay later, supplier payments, working capital for corporate expenses or cash management necessities; among others, said Ronald Alvarenga, Inswitch's CEO.
In addition to the issuing program, Inswitch and Mastercard will work together to integrate their respective assets and solutions offering an agnostic platform supporting different types of businesses: Business-to-Consumer, Business-to-Business, Consumer-to-Business. Through this strong collaboration, Mastercard and Inswitch are position to deliver a robust turnkey solution in several verticals like eCommerce, Retailers, CPGs. Banks, Gig economy among others.
Inswitch solves two urgent problems for enterprises moving to the digital world: it provides a varied payment infrastructure to accelerate the transformation to e-commerce; and innovating beyond payments with a full digital wallet and banking platform; allowing any company to build and launch financial services fast, reliable and around the world. In addition to offering payments and banking all-in-one platform, and a superior user experience; Inswitch will be providing Mastercard and its clients strong management tools to manage the business, including reporting, analytics, white label channels, automatic settlements, and reconciliations.
"We are very excited to have Inswitch as a Mastercard Issuer in Mexico to integrate issuing capabilities and extend the value proposition to all B2C and B2B clients for Inswitch and Mastercard. Inswitch is a company that combines payments, core banking and issuing products in a single stack, that facilities all companies to develop and launch financial services in multiple markets.''
- Pablo Cuaron, Vice President Fintech & Enablers for Mastercard Mexico and Central America
About Inswitch
Inswitch is a global integrated financial technology company that helps companies to rapid activation of digital financial services through its omnichannel 360 Fintech-as-a-Service platform.
Since 2002, Inswitch has implemented more than 100 platforms in 30 countries in Latin America and the Caribbean. In addition, Inswitch has processed over USD 9 billion in Total Payment Volume for more than 80 million users.
About Mastercard
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
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INVESTMENT MANAGEMENT
GeoWealth | September 29, 2022
GeoWealth, a modern turnkey asset management platform (TAMP) built for registered investment advisors (RIAs), today announced several upgrades focused on providing RIAs with more personalization and choice in their investment management programs – including investment guidance, due diligence, service and support. To best serve their clients, contemporary advisors demand greater control, flexibility and customization when managing client portfolios. GeoWealth has responded by expanding its model marketplace, increasing its vetted manager menu by over 200 percent.
Advisors leveraging GeoWealth’s proprietary platform have always had the flexibility to build their own models, select third-party model portfolios, or combine the two via custom Unified Managed Accounts (UMAs). GeoWealth has also further enhanced advisors’ ability to customize on the platform by onboarding Separately Managed Accounts (SMAs) and single asset class or “sleeve-level” strategies to be used as building blocks in UMA allocations.
“Our mission is clear: to empower advisors by offering the technology, infrastructure and back-office resources they can leverage and customize to meet any client’s needs, We are laser focused on building the most RIA-friendly TAMP in the market and these new developments are indicative of our commitment to offering advisors additional customization and investment flexibility.”
-Colin Falls, President at GeoWealth
Investment Consulting Division
For advisors looking for guidance and concierge-level support in building custom UMA solutions, GeoWealth is also announcing the launch of its internal Investment Consulting division. Following the recent hire of Jen Wing as Head of Asset Management in December 2021, GeoWealth has been shaping a hands-on, customizable service model for advisors who desire completely outsourced portfolio and UMA construction and maintenance while retaining their unique brand.
Already well known as the technology-forward, modern TAMP, GeoWealth has grown primarily by way of firms managing their own model programs as well as with firms making their own manager selections, My team will be focused on the segment of the market that desires complete asset management support, including manager selection, portfolio construction, maintenance and white glove service,said Wing.
New Manager Portal
To better enable efficient model-level rebalancing and reallocating, GeoWealth is also announcing the release of its integrated Manager Portal module on the platform. The Manager Portal will allow third-party managers, as well as advisors managing client portfolios, to seamlessly communicate portfolio updates to the GeoWealth trading team for ultimate execution. Additionally, the portal allows asset managers to load their collateral directly to the GeoWealth Model Center for easy access by advisors.
About GeoWealth
GeoWealth is a turnkey asset management platform (TAMP) and financial technology solution built specifically for the needs of modern RIAs. GeoWealth’s user-friendly, cost-efficient, integrated technology enables advisors to access a diversified lineup of model portfolios and fully offload mid- and back-office responsibilities, including performance reporting, billing, portfolio accounting and more. Via its customizable open-architecture platform, GeoWealth enables advisors and firms to grow faster and serve clients more efficiently. Founded in 2010, GeoWealth is headquartered in Chicago, IL.
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FINANCIAL MANAGEMENT
PNC | September 27, 2022
The PNC Financial Services Group, Inc. today announced it has acquired Linga, a point of sale (POS) and payments solutions firm providing an industry-leading, cloud-based restaurant operating system. The acquisition of Linga and its technology will further expand PNC's digital resources and enhance the bank's capabilities to better serve its hospitality and restaurant industry clients.
"This acquisition reflects our continued commitment to expanding our corporate payments capabilities, as well as investing in the solutions and tools our clients need to run their businesses more effectively, Leveraging Linga's proprietary solutions and PNC's competitive treasury management platform, we will be able to provide our restaurant and retail clients with the tools they need to keep up with ever-changing consumer expectations."
- Emma Loftus, executive vice president and head of PNC Treasury Management
Founded in 2004, Linga developed its restaurant operating system, Linga rOS®, which was the first all-in-one, cloud-based operating system introduced to the marketplace. Today, Linga remains an industry-leading provider across the hospitality industry, offering restaurateurs, retailers and others a way to leverage technology to streamline their operations, increase revenue and improve customer experiences. Over the years, Linga has added new functionalities to its operating system to support the needs of today's business owner, including online ordering, payments, QR code-based menus, and virtual kiosks, among others. The company currently serves clients in 48 countries and as of today, will be seamlessly integrated into PNC's existing digital solutions ecosystem.
We believe this is an exciting opportunity to continue to grow our business and support our existing channel partners and clients, and to do so with a company that shares our vision of delivering innovative and high-quality solutions, As we've worked with PNC over the last several years, we've had incredible success with our combined payments capabilities and we look forward to continuing this strategic collaboration as we move forward together,said Onur Haytac, founder and CEO of Linga.
Linga will retain its founder and CEO, Onur Haytac, its existing management team, and U.S. and Canada-based employees, and will continue to operate out of Naples, Fla., and Toronto. Linga will continue to manage its portfolio of channel partners and clients.
About Linga
Linga is an industry-leading point of sale (POS) and payments solutions company offering a cloud-based, platform-as-a-service solution for the hospitality industry, specifically restaurants. Founded in 2004, Linga was the first processor agnostic, cloud-based POS system designed specifically for the hospitality industry, and remains one of the most sophisticated restaurant operating systems on the market. The Linga cloud-based platform is completely customizable and includes user-friendly functionalities such as online ordering, payments, QR code-based menus and virtual kiosks, among others.
About PNC
The PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.
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