FINANCIAL MANAGEMENT, FINTECH
PRnewswire | March 21, 2023
Bitstamp, the world's longest-running crypto exchange, announces today that it is expanding its white-label service to institutions in selected APAC markets. Banks, payments and fintech companies, or investment firms looking to fast-track their digital assets offerings to customers can choose from one of three plug-and-play service tiers. The offering covers a range of needs, such as order matching, liquidity for a wide range of crypto markets, regulatory-compliant AML/ (Know-your-customer), account reporting and more.
Known as Bitstamp as a Service, the solution enables financial institutions to rapidly develop a retail offering without needing to build out technology or compliance infrastructure or acquire specific licenses. One of Bitstamp's first partners for this service was Revolut back in 2017.
Flexible Design for Rapid Deployment
Bitstamp as a Service provides clients with three tiers: Exchange, Exchange Plus, and Exchange Complete. Each tier provides a number of core building blocks with the Exchange Complete tier designed as an end-to-end solution that adds KYC/AML operations for customer onboarding and access to Bitstamp's global license network. For institutions that are prioritizing speed to market and lower fixed costs, this solution will save them the time and resources needed to build this capability in-house.
Bitstamp as a Service gives clients — whether they are an early-stage fintech startup or an established banking institution — the ability to integrate this infrastructure with their existing customer apps. This enables clients to continue to grow their customer relationships and control the user experience with the fastest path to market.
"Bitstamp as a Service is a complete end-to-end solution that allows clients to rapidly turn on their crypto offering. Clients trust in our ability to deliver a safe and secure solution because our success as an infrastructure provider has been tested over multiple cycles. As the market matures, we are seeing greater demand for more integration options and third-party risk management," says Leonard Hoh, APAC GM of Bitstamp. "For added flexibility Bitstamp's infrastructure stack also gives clients a choice of 15 banking partners to match their operational needs. "
A Trusted Solution for Institutions in Current Market Cycle
In a survey carried out by Bitstamp in 2022, over 75 per cent of retail and institutional investors worldwide believe that crypto will become mainstream in the next 10 years. Of all the institutional investors polled, 81 per cent believe digital assets should be part of a portfolio. However, one of the top barriers to entry cited by retail investors were "not sure which platform to trust or is secure''.
"Recent events in the industry have placed new emphasis on good business practices and compliance credentials that necessitate a package of operational controls. There is a need for institutions to find a trusted partner to deliver a quality experience in the digital assets ecosystem to serve the next wave of mainstream adoption ," says Leonard Hoh.
Bitstamp currently holds more than 50 licenses and registrations globally. It was the only crypto exchange among more than 130 CEXes (centralized exchanges) to receive an AA rating in CryptoCompare's Exchange Benchmark Report in October 2022 — a testament to Bitstamp's commitment to making crypto investing secure for all.
About Bitstamp
Bitstamp is the world's original and longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record, cutting-edge market infrastructure and dedication to personal service with a human touch, Bitstamp's secure and reliable trading venue is trusted by over four million customers worldwide. Whether it's through its intuitive web platform and mobile app or industry-leading APIs, Bitstamp is where crypto enters finance. For more information, visit www.bitstamp.net
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FINANCIAL MANAGEMENT, PAYMENTS
Businesswire | March 23, 2023
Cross River Bank (“Cross River”), a leading technology infrastructure provider that offers embedded financial solutions, today announced a new partnership with U.K. based Pay.com. This partnership will enhance and expand Pay.com’s automated payment platform into the U.S. and drive additional growth opportunities.
“Cross River’s comprehensive compliance, payments and technology infrastructure increases the safety, efficiency and scalability that our partners have come to expect,” said Gilles Gade, Founder, President and CEO of Cross River. “Our partnership with Pay.com enables them to scale and reach new markets.”
The partnership enables Pay.com’s current and future merchants to accept multiple payment methods, such as credit and debit cards, as well as alternative payment methods such as digital wallets, ACH transfers and more, all via Cross River’s one-stop-shop. Cross River’s API infrastructure provides Pay.com the ability to streamline and provide customer-centric payments capabilities, facilitating closed loop embedded financial solutions for merchants and businesses.
"Our partnership with Cross River is a testament to our commitment to providing merchants with a comprehensive payment solution,” said Assaf Cohen, CEO of Pay.com. “With their regulatory infrastructure and expertise in embedded finance, we can scale our business and offer merchants access to the latest payment technologies."
According to Verified Market Research, the embedded finance market size is expected to grow to $6.943 trillion by 2030, and fintechs are in need of simplified embedded finance systems that deliver exceptional customer experiences. Cross River and Pay.com lead with a solution-driven approach and have been partners since July 2022. Cross River’s expertise, technology and regulatory infrastructure will help build and scale Pay.com’s business in the U.S., providing increased capabilities for businesses.
About Cross River
Cross River provides technology infrastructure powering the future of financial services. Leveraging its proprietary real-time banking core, Cross River delivers innovative and scalable embedded payments, cards and lending solutions to millions of consumers and businesses. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion. Member FDIC. Find out more at www.crossriver.com.
About Pay.com
Pay.com is an innovative payment service provider, providing flexible, customizable, and scalable solutions. Pay.com enables enterprise leaders to effortlessly manage large payments and achieve their boldest visions, while empowering smaller merchants to reach new heights of success through seamless, fast, and user-friendly payment solutions. Pay.com’s commitment to inclusivity drives the company to bring unparalleled ease, simplicity, and speed to the global payment space.
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INVESTMENT MANAGEMENT, FINTECH
PRnewswire | March 27, 2023
To provide the financial services industry with seamlessly integrated cost basis processing and tax information reporting, global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE:BR), has teamed with Apex Silver (formerly Silver Management Group of Companies), a trusted provider of enterprise-class SaaS solutions and a subsidiary of Apex Fintech Solutions, Inc. This new comprehensive solution will provide wealth managers with a more tightly coupled offering, thus reducing the overall cost of ownership and improving the overall tax experience for clients. This alliance introduces a common data sourcing and management model making integrations seamless while providing greater flexibility and scale.
"This collaboration provides a complete reporting solution for complex transaction processing addressing both cost basis and tax treatment," commented Thomas Burke, President, Broadridge Tax Services. "Broadridge has long provided tax data and information reporting solutions. What's new is that by working with Apex Silver, we are bringing to market an integrated one-stop reporting solution; that supports compliance with changing tax regulations, new asset classes such as crypto, and which scales rapidly in line with higher transaction volumes."
"Apex Silver offers state-of-the-art cost basis reporting solutions with a focus on delivering industry-leading operational efficiencies and superior client experiences," commented Blake Henry, Chief Executive Officer, Apex Silver. "Our cloud-based, API-driven cost basis offering supports tens of millions of investment accounts and multiple Tier 1 financial institutions, including several firms that are also Broadridge tax information reporting clients. We look forward to working on this exciting initiative together."
This collaboration of leading financial technology providers enables banks, broker-dealers and custodians to contract with a single vendor, Broadridge, for a truly integrated cost basis and tax information reporting solution delivered and supported by Broadridge's world class customer service team.
About Apex Silver
Apex Silver, formerly Silver Management Group of Companies, was acquired and became part of the Apex Fintech Solutions platform in August 2021. With a 30 year history, Apex Silver is a leading SaaS provider of business and technology solutions for the investment services industry. The team applies decades of securities industry and software development experience, along with a passion for solving real-world problems, to deliver cost-effective brokerage operations and wealth management solutions for clients. Apex Silver's SaaS solutions are currently used by some of the world's most respected financial institutions to accurately and securely process tens of millions of investment accounts and trillions in assets.
About Apex Fintech Solutions
Apex Fintech Solutions is a fintech powerhouse enabling seamless access, frictionless investing, and investor education for all. Apex's omni-suite of scalable solutions fuel innovation and evolution for hundreds of today's market leaders, challengers, change makers, and visionaries. The Company's digital ecosystem creates an environment where clients with the biggest ideas are empowered to change the world. Apex works to ensure their partners succeed on the frontlines of the industry via bespoke solutions through its Apex Clearing™, Apex Advisor Solutions™, Apex Silver™, and Apex CODA Markets™ brands.
About Broadridge
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with more than $5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies.
Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than U.S. $9 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.
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