Home > News > featured news > Modulr and Ripple Partnered to Provide Seamless Payments into the UK and Europe

Payments

Modulr and Ripple Partnered to Provide Seamless Payments into the UK and Europe

Modulr | February 02, 2022

Modulr, a leading payments platform, and Ripple, the leader in enterprise blockchain and crypto solutions, have joined hands to provide seamless payments into the UK and Europe regions. Trust Payments, the global payments group, is recorded to be the first customer to use the new service provided by the two FinTech companies.

Both FinTech companies are making payment solutions easier for businesses like Trust Payments to initiate real-time payments across international borders powered by Ripple’s financial technology, RippleNet. The good news is global businesses will now have an alternative to legacy correspondent banking with the help of Modulr’s technology. As a result, they can now make payments into the UK and Europe regions faster, more reliable, and cost-effective.

Since the beginning of the idea of providing a seamless payment mode, Modulr has focused on building a practical Payments-as-a-Service solution into the European and UK payment rails. The solution was created in the wake of critical payment infrastructure requirements in the UK, including SWIFT, Faster Payments and Bacs CHAPS, and SEPA in Europe. The solutions have been created, keeping the deep expertise in the European payments landscape in focus and shaping it as an ideal platform for seamless payments for businesses.

Moreover, Modulr is one of few non-banks directly associated with the Bank of England, enabling the payments platform to settle funds at the Central Bank. Trust Payments, the first company to reap a direct benefit from the partnership between Ripple and Modulr, is now expanding its service and delivering new payment options further to other businesses.

On this venture, Jonathan O’Connor, Chief Commercial Officer of Trust Payments, said, “Trust Payments continues its disruption in payments with the partnership between Modulr and Ripple delivering a new payment option for settlements. We want to ensure we offer merchants alternatives to traditional methods with reduced fees and increased speed of funding to their accounts.”

In the future, Ripple and Modulr aim to deliver price-competitive, real-time, and reliable payments into North America, Asia Pacific, Latin America, and Middle East regions. Sendi Young, Managing Director of RippleNet in Europe, says, “Ripple is pleased to partner with Modulr, who has a deep knowledge and expertise of the payments landscape, as well as unrivaled connections to critical payment infrastructure in the UK. Together we look forward to providing faster; simpler cross-border payments experience for customers on RippleNet into the UK and Europe.”

We’re excited to partner with Ripple - we share the same fundamental goal, which is to make it easy to send and control global business payment flows by removing the hidden inefficiencies plaguing international payments today. This partnership lays the groundwork for even bigger things to come. At Modulr, we’re looking forward to working with Ripple on delivering real-time, price competitive and reliable payments into the UK and Europe, and then globally in the coming months.”

Myles Stephenson, CEO, and Founder of Modulr

Spotlight

Five Signs You Have Outgrown Your Accounting System

Is your accounting system holding you back? This whitepaper highlights the five signs that indicate you have outgrown your current accounting system. From limited scalability to lack of integration, recognize the signs and understand when it's time for an upgrade. Don't let an outdated system hinder your business growth. Downloa

More featured news

Spotlight

Five Signs You Have Outgrown Your Accounting System

Related News

Financial Management, Fintech

iCapital Launches Architect, a New Innovative Portfolio Analytics Tool for Financial Professionals

Businesswire | July 27, 2023

iCapital, the global fintech platform driving access to alternative investments for the wealth management industry, today unveiled iCapital Architect, an innovative portfolio construction tool that empowers financial advisors to build robust, personalized client portfolios incorporating alternatives and structured investments. Advisors can use Architect – which combines a user-friendly interface with sophisticated analytics – to evaluate alternatives and structured investments alongside traditional assets and seamlessly design portfolios that align with their clients’ return objectives and risk profiles. Among the tool’s many features are resources for evaluating historical performance and running institutional-quality risk factor analyses — key attributes for developing insightful investment recommendations. “Advisors have long expressed a need for more comprehensive tools to effectively evaluate the inclusion of alternatives and structured investments in client portfolios,” said Lawrence Calcano, Chairman and CEO of iCapital. “These investments have been the blind spot in many portfolio construction offerings. “Architect provides advisors with the specialized data and tools required to effectively evaluate alternatives and structured investments — important assets when building well-rounded portfolios,” Calcano said. “The needs of our clients are evolving and so should their tools.” Architect’s launch comes at a time when there is a growing need for delivering outcome-oriented portfolios that span alternative, structured, and traditional investments. It marks a significant step forward for iCapital and underscores its commitment to investing in innovation for the benefit of the wealth management community. “Architect is an extremely useful tool utilized by our advisors to help analyze and explain how the inclusion of alternative strategies can diversify and strengthen client portfolios,” said Dick Pfister, CEO of AlphaCore, a La Jolla, CA wealth advisor with $2.4 billion in assets under management. “The ability to both visualize the potential return, and stress test the risk/reward characteristics of adding unique alternative assets, is a major differentiator.” About iCapital Founded in 2013, iCapital is the leading global fintech company powering the world’s alternative investment marketplace. iCapital has transformed how the wealth management, banking, and asset management industries facilitate access to private markets investments for their high-net-worth clients by providing intuitive, end-to-end technology and service solutions, education tools and resources, and robust diligence, compliance, and portfolio analytics capabilities. iCapital’s solutions enable organizations to streamline and scale their operational infrastructure for alternative investments and to provide access to direct investments and feeder funds at lower minimums through simplified digital workflows. iCapital-managed platforms offer wealth advisors and their high-net-worth clients access to an extensive menu of private investments, including equity, credit, real estate, infrastructure, hedge funds, structured investments, annuities, and risk-managed solutions. iCapital has been recognized on the Forbes Fintech 50 list each year from 2018 to 2023, the Forbes America’s Best Startup Employers in 2021, 2022, and 2023, and MMI/Barron’s Industry Awards as Solutions Provider of the Year in 2020, 2021, and 2022. As of June 30, 2023, iCapital services more than $162 billion in global client assets, of which nearly $29 billion are from international investors (non-U.S. domestic) across more than 1,300 funds. Employing more than 1,100 people globally, iCapital is headquartered in New York City and has offices worldwide, including in Zurich, London, Lisbon, Hong Kong, Singapore, and Toronto.

Financial Management, Security and Compliance

Treasury Prime Announces Partnership with Sardine to Strengthen Fraud Detection Capabilities for Enterprises and Banks on the Platform

PRnewswire | July 03, 2023

Treasury Prime, a leading embedded banking software company, announced today its strategic partnership with Sardine, an all-in-one fraud detection, compliance, and risk management platform. This collaboration will empower companies and financial institutions within Treasury Prime's multi-bank network to leverage Sardine's Sponsor Bank Operating System, offering turnkey fraud management and oversee BSA/AML compliance at 3rd parties. As the embedded banking industry evolves, banks and companies are faced with the challenge of meeting the growing regulatory requirements. Sardine's integrated approach addresses the growing need and complexity related to third party oversight by offering sponsor banks comprehensive visibility into their programs' fraud and compliance performance at the portfolio level. "As regulatory scrutiny increases in the financial services industry, companies and banks need effective fraud detection controls. By leveraging Sardine's expertise, our customers and partners can identify fraud, ensure compliance with regulatory standards, and mitigate operational and reputational risks as their embedded banking programs grow," said Mark Vermeersch, Chief Platform Officer of Treasury Prime. "The partnership reinforces our commitment to empowering financial institutions and companies with the latest technology and capabilities." Sardine's robust suite of tools includes advanced fraud detection, KYC, BSA/AML compliance, and transaction monitoring capabilities. Through this partnership, Treasury Prime customers and bank partners can seamlessly integrate Sardine's services into their programs, providing a turnkey to fraud prevention for sponsored programs and compliance oversight and management through a single dashboard "Sponsor Bank OS." "If the last few months have taught us anything it's that enterprises and banks need partners they can trust. This collaboration between Treasury Prime and Sardine takes our shared commitment to trust and confidence from our customers to the next level," said Ravi Loganathan, Head of Financial Institution Services at Sardine. This partnership comes on the heels of Treasury Prime's recent introduction of OneKey Banking, a groundbreaking technology that unlocks the full potential of the industry's largest bank network through instant cross-bank transfers. Earlier this year, Treasury Prime closed a successful $40 million Series C funding round and was honored with Tearsheet's prestigious "Best Banking-as-a-Service Platform" award for 2021 and 2022. About Treasury Prime Treasury Prime is building the future of finance. Leveraging its award-winning APIs and versatile embedded banking products, Treasury Prime enables banks and enterprise partners to innovate, adapt, grow and scale to stay competitive in a rapidly changing marketplace. The company helps enterprises with a range of complex services including money transfer, risk mitigation and access to a chartered bank's infrastructure. Treasury Prime works with forward-thinking banks to innovate responsibly and increase access to banking products and services to all segments of the population Treasury Prime was named Best Banking-as-a-Service Platform in the Tearsheet Embedded Awards 2021 and 2022, and was named to CB Insights' annual 2021 Fintech 250 list. About Sardine Sardine offers a Continuous Fraud Intelligence Platform, purpose built to protect businesses and consumers from sophisticated fraud attacks. Using real-time user behavior analysis, advanced AI techniques, and deep fraud expertise, Sardine consistently outperforms the competition in preventing fraud and spots scams before they happen. Our comprehensive API empowers risk teams with a behavior infused all-in-one fraud, compliance, and risk management solution. Led by a team of fraud fighters, and banking industry veterans, Sardine has raised $75M from Andreessen Horowitz Growth, Visa, Experian, XYZ Capital, Google Ventures, and ING Ventures. For more information, please visit www.sardine.ai, and follow us on LinkedIn and Twitter.

Financial Management, Investments

Alkami Launches First Engagement Artificial Intelligence (AI) Predictive Model for Financial Services Industry

PR Newswire | August 10, 2023

Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., has developed and launched an Engagement AI Model via its AI Predictive Modeling solution. The new model—the first of its kind in the industry—combines artificial intelligence (AI), machine learning (ML), and Alkami's proprietary Key Lifestyle Indicators® (KLIs) empowering financial institutions to identify account holders who demonstrate behaviors most likely to lead to retention and account growth, and increase their engagement with products, service offerings and digital channels. Financial institutions can use an attrition model to identify account holders that have a high risk of leaving, allowing the institution a chance to develop win-back strategies. According to Alkami's internal research, account holders who score the highest risk for attrition are, on average, 15x more likely to leave a financial institution than account holders who score as highly engaged. Alkami's Engagement AI Model inverts their attrition model so financial institutions can focus their time and budget where it matters most—in retaining and growing their engaged account holders. "When we looked at the full spectrum of attrition scoring, our research showed that attrition is significantly lower among highly engaged account holders, so we developed a model that not only identifies these highly engaged account holders but also layers in Alkami's KLIs—labels describing the type of transaction or behavior a customer or member engages in—to best predict which behaviors drive incremental engagement," said Mark Leher, director, product management at Alkami. "The model assesses the entire universe of a financial institution's account holders on a daily basis to identify those account holders exhibiting behaviors that have historically led to deeper engagement," Leher continued. "This allows the financial institution to auto-surface highly relevant campaigns that are more effective at driving growth. Not only does this save on account acquisition costs, but it also empowers the financial institution to engage with those who are more likely to take action on a targeted campaign." About Alkami Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly, and build thriving digital communities. Alkami helps clients transform through retail and business banking, digital account opening, payment security, and data analytics and marketing solutions. To learn more, visit www.alkami.com.