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
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.
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.
CORE BANKING,FINANCIAL MANAGEMENT
FinTech Automation and Mastercard | August 08, 2022
FinTech Automation announces it has been selected as one of the technology partners for open banking within Mastercard’s Engage partner network. The Engage program has developed a network to provide businesses easy access to technology partners that can quickly build and deploy open banking solutions for payments and lending decisioning at scale.
With the rapid adoption of open banking (i.e., consumer-permissioned data access) and digital tools across financial services experiences, FTA has been selected by Mastercard as one of the premier technology partners to spur innovation through access to its open banking platform, from lending to payments to financial management.
“As we move from the information to the digital age, how we move information is as important as the data itself, Mastercard and FinTech Automation are key to that movement.”
-David Park, CEO at Fintech Automation
FTA allows firms to build a fully digital financial hub with little to no code and, through open banking, allows businesses to establish direct consumer-permissioned connections with their customers’ bank accounts. Through these consumer-permissioned connections, businesses can verify accounts for payments and payouts, check balances to reduce payment failures and cut fraud by confirming bank account ownership. This has vastly improved the payment experience for both the businesses and their customers.
Mastercard is excited to be partnering with FinTech Automation on deployment of open banking solutions that are designed with security at the center and will help to meet consumers’ financial needs and enable choice, Together, we can enable innovation that will increase financial inclusion and expand access to digital services across the globe,said Andy Sheehan, EVP, U.S. open banking at Mastercard.
FinTech Automation’s inclusion in the Engage partner network translates into fewer contracts, faster customer access, enhanced data security, and heightened overall flexibility to better leverage Mastercard’s robust open banking services.
About FinTech Automation
FinTech Automation is a Dallas, TX-based financial technology company dedicated to building a fully digital financial experience with little to no code. The FTA UniFi Platform is the foundational component - or building blocks - to help our clients drive innovation and business growth without worrying about the technology that supports it. The UniFi platform offers banking, payments, compliance, and wealth management Software as-a-Service applications, which are integrated with over 40 partners to offer analytics, databases, open banking, tools for application development, artificial intelligence, machine learning, and robotic process automation.
TeamSnap and Goalsetter | August 12, 2022
TeamSnap, the leading provider of team management software and online community for everything youth sports, today announced its partnership with Goalsetter, an award-winning and groundbreaking fintech platform dedicated to providing families and K-12 youth with access to banking, savings, investing, and financial education tools.
This strategic alliance between TeamSnap and Goalsetter will help drive the TeamSnap Impact mission, making it possible for youth in underserved communities to have equal access to quality sports programs, so all kids can reap the benefits that sports participation and physical activity bring. To maximize the power of this partnership, TeamSnap and Goalsetter will jointly use the revenue generated from family sign-ups toward TeamSnap Impact efforts, supporting community partners nationwide.
TeamSnap Impact and Goalsetter are committed to working together to help youth teams and sports programs build stronger communities and brighter futures through an increased participation in sports and focus on both physical and financial well-being. To download the Goalsetter app and support TeamSnap Impact efforts, visit the Apple App Store or Google Play Store and use referral code: TEAMSNAP.
"Our mission with TeamSnap Impact is to increase access to quality sports programs, which we know is strongly tied to improved goal-setting among youth. Together with Goalsetter, we're committed to driving the connection between improved goal-setting from youth sports participation and setting goals for financial success. I'm confident that together we'll be able to positively impact the trajectory of the next generation. That's how we all win,"
- Greg Ludke, VP of Corporate Strategy & Development for TeamSnap
To make the most impact in leveling the playing field, TeamSnap Impact has centered its initiatives around policy formulation, direct funding and technology grants. They are focused on improving access to quality sports programs—regardless of race, gender, religion or socio-economic status—so all young athletes can experience sport at all stages of life. TeamSnap and Goalsetter are aligned on addressing the number of challenges facing today's youth, especially in underserved communities.
The work we are doing with TeamSnap is a critical part of achieving our mission at Goalsetter because we understand that to effectively address disparities and change the economic trajectory of our communities requires taking a holistic approach that ensures their physical, mental, emotional and financial well-being, Together, TeamSnap and Goalsetter are working to help our youth establish the healthy behaviors we know will serve them and their own children for generations to come by putting them on the path to wellness, both physically and financially,said Tanya Van Court, founder and CEO of Goalsetter.
Led by studies which indicate that kids who have a savings account are six times more likely to go to college and four times more likely to own stocks by the age of 25, Goalsetter empowers K-12 students and their families by helping them build confidence in their financial decisions. Its financial education offering uses relatable GIFs, memes, quizzes and gamification to teach kids and teens the language of money.
In addition to offering effective and engaging financial education, Goalsetter is the only platform to also provide access to savings accounts, debit cards and investment accounts with groundbreaking and industry-leading features. For example, "Learn to Earn" lets kids earn money for every financial quiz question they get right, and "Learn Before You Burn" lets parents automatically freeze their child's debit cards if they haven't taken their financial literacy quizzes for the week. Additionally, the Goalsetter Invest feature teaches kids how to invest on a dollar equivalent basis while learning the terminology of the stock market.
Waud Capital Partners is excited about the TeamSnap and Goalsetter partnership and its potential to change the lives of youth in underrepresented communities. At WCP, we strongly believe in educating young, underrepresented populations on financial literacy and responsibility, and we are thrilled that our portfolio is making an impact in this space as well, hopefully improving the lives of families for generations to come, said Justin DuPere, partner at Waud Capital Partners, private equity partner of TeamSnap.
Participation in youth sports aids children in the development and improvement of cognitive skills, according to a study that tracked kids from kindergarten through fourth grade (Piche, 2014). Additionally, physical activity in general is associated with improved academic achievement, and can have a positive impact on attitudes and academic behavior, including improved concentration, attention, and improved classroom behavior (GAO, 2012). Other positive effects include increased mental health, decreased risk of obesity and improvements in goal setting skills.
Goalsetter is a mobile banking, debit card, and investing app that focuses on educating the next generation with fun financial quizzes based on pop culture, putting them on the path to financial freedom. Goalsetter works with both teens wanting financial independence, parents wanting to start saving with their kids, and adults who want to jump-start their financial literacy.
About TeamSnap Impact
TeamSnap recently launched TeamSnap Impact, a program dedicated to tackling the major problems facing youth sports, including affordability, gender equality, access to quality coaching and more. TeamSnap is dedicated to enacting positive change in youth sports through the pillars of policy, technology grants, and direct funding.