Financial Management, Fintech
One Rock Capital Partners | December 18, 2023
One Rock Capital Partners, LLC a value-oriented, operationally focused private equity firm, is pleased to announce that Shannon Crespin has joined its team of Operating Partners. Ms. Crespin will be involved with evaluating prospective investments and building capability of One Rock's portfolio companies in the disciplines of integrated supply chain, working capital management and planning.
Ms. Crespin joins One Rock with nearly 30 years of experience working in an array of supply chain-related disciplines, both in-industry and as a consultant. She previously served as Chief Operations Officer of Tonal, where she led end-to-end operations, research and development and program management for a fast-growing fitness equipment and technology business. Prior to Tonal, Ms. Crespin served as the Vice President Global Orthopedics Supply Chain for Depuy Synthes, the orthopedics company of Johnson & Johnson. Ms. Crespin had earlier supply chain roles with Medtronic, Keane Consulting, Lucent Technologies and Health South Rehabilitation.
"Ongoing efforts at One Rock to grow our Operating Partner team are designed to enhance our ability to improve the businesses in which we invest," said R. Scott Spielvogel, Managing Partner of One Rock. "We often encounter businesses with significant opportunities in various aspects of supply chain, and we look forward to having Shannon as part of our effort to augment portfolio company performance."
"I admire One Rock's emphasis on building better businesses, often in complex situations. I very much look forward to working with the Firm's portfolio companies to drive a higher level of execution across supply chain disciplines," said Ms. Crespin.
Utilizing the expertise of Operating Partners has been an integral part of One Rock's strategy since its inception. Shannon Crespin joins a growing team, which now includes 27 Operating Partners at One Rock.
ABOUT ONE ROCK CAPITAL PARTNERS, LLC
One Rock makes investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners is designed to afford One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and its profitability to enhance long-term value.
Finix | January 10, 2024
Finix, the payments technology provider enabling businesses to accept and send payments online or in-person, announced the launch of Payouts, its latest standalone product line. Payouts enables businesses across all industries to efficiently send money at scale, regardless of whether they utilize the broader Finix payments platform.
Businesses often encounter challenges when they need to disburse funds due to siloed payment flows and needing to manage multiple vendor relationships to send and receive payments through various payment methods. In addition, businesses can be delayed waiting for bank approvals and integration resources. Now, Finix Payouts enables fast and reliable money movement–to one or many recipients at once–via a single developer-friendly API. Payouts has many use cases such as business-to-business (B2B) account payables, gig economy wages, insurance claims, tax refunds, sales commissions, tips, contractor payouts, and more.
"Businesses can encounter many challenges when sending money at scale. Teams may face cumbersome technical integrations, manual payment operation workflows, and cash flow challenges, which can create a reconciliation nightmare," said Richie Serna, CEO and co-founder of Finix. "With Finix Payouts, companies of all sizes can get started in a few hours, configure their payment flows and methods to satisfy their business needs, help alleviate complications and intermediaries, and start sending money without spending an extensive amount of time or resources. Instead, they can focus on what matters most: their product, customers, and business growth."
"Launching this separate product line, Payouts, is further evidence that Finix is continually and rapidly evolving to meet the dynamic needs of businesses," said Anthony Sharett, President of Pathward®, N.A. and Pathward Financial, Inc. "Pathward is proud to deepen our partnership with Finix and continue working together to broaden accessibility to the financial system."
Finix will utilize Mastercard Send™ and Visa Direct to enable card-based payouts allowing U.S. businesses to quickly send money to bank accounts or eligible cards.
Key features of Payouts include
24/7 Card Payout Availability
Disburse funds to cards in near real-time1, 365 days a year – including weekends and holidays.
Real-time Bank Account Validation
With Finix's integrations, businesses can get up and running quickly and seamlessly link and validate bank accounts in real-time.
Flexible Payment Maximums Based on Industry:
Businesses can have custom disbursement limits for push-to-card and bank transfers to effortlessly scale their processes.
By integrating with Finix's complete solution, users can send payments via ACH, real-time payments, and to cards with Mastercard Send™ and Visa Direct, in a single API.
Finix conducts the necessary compliance checks on recipients ahead of sending money between parties.
Reliable, Detailed Reporting
Businesses can manage their payout services with out of the box tools, customizable reporting, and detailed recordkeeping.
"In today's digital environment, it's vital that businesses of all sizes can securely access and send funds in near real-time, whenever and wherever their work takes them," said Silvana Hernandez, Executive Vice President, Product and Engineering, North America, Mastercard. "By working with Finix, we're helping businesses meet the demands of our always-on digital world, enabling them to seamlessly integrate Mastercard Send into their day-to-day operations to move money safer, faster and more efficiently."
"Visa Direct provides a single point of access and reach to over 8.5B+ endpoints capability, including 3B+ eligible cards, 3B+ bank accounts and 2.5B+ wallets around the world," said Yanilsa Gonzalez-Ore, North America Head, Visa Direct. "This collaboration reflects our shared commitment to streamlining global money movement and we're excited to bring streamlined disbursement capabilities to more businesses across the U.S., enabled by Visa Direct."
Finix is a full-stack payment processor and infrastructure provider powering customers such as Clubessential, Passport, and Kabbage. From startups to publicly traded companies, Finix offers everything needed to deliver a world-class payments experience. Leading software platforms, marketplaces, retail, and e-commerce businesses use Finix's universal payments API and dashboard to accept payments, automate workflows, enhance customer experiences, and quickly grow revenue.
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.”
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.