FINANCIAL MANAGEMENT, FINTECH
Freedom Bank | November 29, 2022
The Freedom Bank of Virginia announced it launched a new digital invoicing and payment solution for business clients powered by Autobooks. These new services allow Freedom's small business clients to leverage easy invoicing and payments options seamlessly integrated and available within the Bank's online and mobile banking platform. Business clients can quickly and easily generate professional looking invoices and send them directly to their customers' inbox. Each invoice includes a "pay now" button that recipients can use to make their payment safely and securely using a credit card or ACH. There is no monthly cost for the service and clients only pay the merchant fees for credit card transactions and ACH payment sent by their customer.
"Freedom Bank is thrilled to add these new digital and payment services to our robust suite of digital banking solutions. We pride ourselves on offering our clients online access to critical money management tools one would only expect at a larger bank. At Freedom we combine a technology forward focus business owners need with a more personalized relationship and advice small businesses want,"
- Joe Thomas, President and CEO
About Freedom Bank
Freedom Bank (OTCQX: FDVA) is a next-generation community bank, headquartered in Fairfax, Virginia, offering commercial banking, personal banking, and mortgage banking solutions using banker expertise and innovative technology to build lead relationships with clients. Focusing on businesses, real estate owners, and professionals, Freedom Bank concentrates on key industry verticals to deliver unique, sector-specific solutions to help clients meet their goals and realize their dreams. Freedom Bank has sales office locations in Fairfax, Vienna, Reston, Manassas, and Chantilly, VA. The Freedom Bank Mortgage Division is headquartered in Chantilly, VA and the Freedom Bank Small Business Lending Division is headquartered in Harrison, NY.
FINANCIAL MANAGEMENT, FINTECH
Papaya Global and GGV Capital | February 02, 2023
On February 1, 2023, Papaya Global, a SaaS fintech firm that provides global payroll and payments technology, was nominated to GGV Capital and Crunchbase's Embedded Fintech 50, a ranking of startup investors' most promising fintech startups.
In order to select the 50 winners, GGV Capital brought together 57 investment firms to submit nominations and vote. The fact that the Embedded Fintech 50 has raised a total of $12 billion shows that venture capitalists are optimistic about the industry's future.
Eynat Guez, Co-Founder and CEO of Papaya, remarked, "This important investor recognition from the fintech industry reinforces our goal of educating companies on the advantages of a fintech approach to global payroll and payments." She further added, "Global payroll and payments are complex and as such need to be automated, visible at all times, fast and accurate. With our industry-leading capabilities of delivering payments within 72-hours, we are showing the power of embedded fintech within global payroll. What we're doing allows our enterprise clients to effectively and efficiently manage their global workforces."
(Source – Cision PR Newswire)
Hans Tung, Managing Partner at GGV Capital, stated, "Embedded fintech is a bright spot in today's market, and it is exciting to see how companies are democratizing access to financial services through technology."
"We are excited for the continued development of the embedded fintech landscape and further creative innovations to come. Congratulations to the Embedded Fintech 50 honorees!" he concluded.
(Source – Cision PR Newswire)
About Papaya Global
Papaya Globalis revolutionizing payroll, payments, and workforce management. Its global platform streamlines the HR processes of over 160 countries, from recruitment to onboarding, management, and compensation. The cloud-based service is scalable and easy to use. It also offers cutting-edge business intelligence and analytics, and guarantees full compliance.
About GGV Capital
GGV Capital makes multi-stage, sector-focused investments worldwide. The company invests in founders starting category-leading businesses worldwide, believing that talent can come from anywhere. The company has offices in San Francisco, Shanghai, and Beijing. It has invested $9.2 billion in the US, Canada, China, Southeast Asia, India, Latin America, and Israel.
Capco and Savana | November 17, 2022
Capco, a global technology and management consultancy dedicated to financial services, and Savana, an industry leader in building financial software for banks and fintechs, today announced a strategic partnership to accelerate banks' transformation journeys and drive continuous digital product innovation.
The partnership brings together Capco's deep domain knowledge, creative culture and strong relationships with leading financial institutions, and Savana's technology expertise and digital delivery platform. It will support banks in overcoming the technical challenges they face in meeting evolving customer expectations and needs for seamless modern omnichannel experiences.
While digital transformation is ongoing in the banking space, many challenges have yet to be resolved. Legacy technology components and the complexity of banking operations are hampering banks' ability to effectively differentiate, scale, and meet consumers' evolving needs. In particular, many banks have yet to convert their cores, but require an immediate onramp to API banking to automate processes, launch products faster, and deliver consistent user experiences.
Savana's core-agnostic digital delivery platform eliminate silos within a bank's technology ecosystem and automates servicing for bank teams and customer-originated requests. Capco has a successful track record in implementing agile methodologies to optimize banks' transformation journeys. In partnership, they will speed time to market for institutions via new customer-focused digital products and services.
"Savana's platform addresses the fragmented processes and technology barriers that are preventing banks from automating operations and delivering consistent customer experiences across channels. We're excited to leverage this transformative technology to help our bank clients achieve true end-to-end digitalization and more swiftly deliver innovative products and services to consumers."
-Kaylin Kugler, Partner, North American Banking at Capco
Mike Wolfel, CEO at Savana, said We're proud to partner with Capco and work hand in hand with their business and technology experts to help banks overcome barriers to digitalization and growth. We can help banks to unlock next-generation, customer-centric banking operations and to thrive in today's competitive landscape. Together Savana and Capco will solve these problems for institutions seeking a path forward.
Capco, a Wipro company, is a global technology and management consultancy specializing in driving transformation in the financial services and energy industries. With a growing client portfolio comprising of over 100 global organizations, Capco operates at the intersection of business and technology by combining innovative thinking with unrivalled industry knowledge to fast-track digital initiatives for banking and payments, capital markets, wealth and asset management, insurance, and energy clients. Capco's cutting-edge ingenuity is brought to life through its award-winning Be Yourself At Work culture and diverse talent.
Savana unlocks next-generation, customer-centric banking operations through the industry's first and only digital delivery platform. Leveraging unmatched banking knowledge and expertise, Savana solves the issues that arise during digital transformation or in creating and launching a new bank. Redefining customer-first operations, Savana is powering the future of banking.