PAYMENTS

Billtrust Acquires iController, a Belgium-based B2B Collections Software Provider

Billtrust | October 13, 2021

Billtrust (NASDAQ: BTRS), a B2B accounts receivable (AR) automation and integrated payments leader, announced today it has acquired iController, a leading B2B provider of intelligent solutions for collections management, for $58 million, financed with cash on hand. Founded in 2007, Belgium-based iController’s software-as-a-service (SaaS) offering enables a wide range of users, from credit and collections managers to CFOs, to see information and communication in real time, providing visibility into cash flow management.

“Acquiring a great company like iController is consistent with our growth plan of strategic global expansion in targeted ways to broaden our customer footprint and provide extended value to our current customers,”

said Flint Lane, Billtrust Founder & CEO.
 

“We are pleased to welcome Peter Janssens and the entire iController team to Billtrust,” said Steve Pinado, Billtrust President. “With 566 European customers, iController is a powerful resource for credit and collections professionals and a strong strategic fit for Billtrust, expanding our physical presence in the European market while enhancing our global collections capabilities.”

“Joining the Billtrust family will help us more rapidly scale our business and increase the level of resources we can deploy to better serve our growing customer base,” said Peter Janssens, iController Founder & CEO. “Our shared values and aspirations make this an ideal combination for iController.”

iController’s team will continue to operate from its offices in Ghent, Belgium and Amsterdam, The Netherlands, expanding Billtrust’s strategic presence in the region.

About Billtrust
Billtrust is a leading provider of cloud-based software and integrated payment processing solutions to simplify and automate B2B commerce. Accounts receivable is broken and relies on conventional processes that are outdated, inefficient, manual and largely paper based. Billtrust is at the forefront of the digital transformation of AR, providing mission-critical solutions that span credit decisioning and monitoring, online ordering, invoice delivery, payments and remittance capture, invoicing, cash application and collections. For more information, visit Billtrust.com.

Spotlight

Swiss Banking Advisory is domiciled in the UK and encompasses a group of experts from financial institutions (asset management, insurance companies, banks, hedge funds, wealth managers), angel investors as well as IT experts. On the one hand, Swiss Banking Advisory is a consulting company and offers contract-based offshore project management, and on the other hand the company promotes Fintech and innovation in the world of banking and finance. Our company finds innovative solutions for financial institutions, angel investors, business angels and clients of financial institutions and also introduces them in educational.


Other News
TRADING SYSTEMS

Hirander Misra of GMEX Group receives the Hind Rattan Award

GMEX Group | April 18, 2022

London, New Delhi, 14 April 2021 - Hirander Misra, Chairman & CEO of GMEX Group, a leader in digital business and technology solutions for exchanges and post-trade market infrastructure, has received the prestigious Hind Rattan award. The Hind Rattan, translated into English as "Jewel of India", is one of the highest awards granted annually to non-resident persons of Indian origin in recognition of their outstanding services, achievements, and contributions in their respective fields. It is awarded by the NRI Welfare Society of India at the Society’s annual congress. The Hind Rattan Awards honour high achievers of Indian origin from professional disciplines. Over the past 41 years, the NRI Welfare Society of India has become a strong bridge connecting people of Indian origin with India. Its focus is to "strengthen emotional bonds" between the diaspora and the country. The Hind Rattan award was presented on 14th April 2022 during the 41st International Convention of Non-Resident Indians (NRI’s) at the Constitution Club in New Delhi. The award ceremony was attended by members of the Indian Parliament, the Government of India and the Supreme Court of India, other preeminent dignitaries, business leaders, celebrities and NRIs from all over the world. Speaking during the ceremony, Hirander Misra said “It is an absolute privilege to receive this award and be recognised for my work in the fintech capital markets arena for the last 26 years, a decade of which has been at GMEX Group, which I co-founded.” He added “I thank The NRI Welfare Society of India for this accolade and really value the work they are doing to ensure strong links between India and its diaspora.” “We are proud of NRIs like Hirander Misra for making substantial contributions in strengthening India’s position in the global economy,” said Mr. Deepak Singh, convener of the NRI Welfare Society of India. Media Contacts GMEX Group Melanie Budden The Realization Group Tel: +44 (0)7974 937 970 melanie.budden@therealizationgroup.com pr@gmex-group.com About GMEX Group GMEX is a global market infrastructure vendor providing multi-asset trading, exchange matching engine and post-trade business solutions, and Ecosystem-as-a-Service (EsaaS) technology. These include, the GMEX MultiHub, which is a cloud based trading and post trade digital market infrastructure platform that as a ‘multi-asset network of networks’ facilitates a first of its kind collaboration across major institutions, regulatory regimes and start-ups with the goal of bringing digital assets to a wider audience. For more information visit www.gmex-group.com or Twitter @GMEX_Group

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CORE BANKING

BforBank Chooses Temenos on Google Cloud to Power Future Expansion

BforBank | May 17, 2022

Temenos (SIX: TEMN) today announced that BforBank, the fully digital bank of the Crédit Agricole Group, has selected Temenos open platform for composable banking to support future expansion. The bank is moving from an on-premise implementation to using Temenos core banking solutions on Google Cloud to tap new growth opportunities and drive efficiencies at scale. A pioneer in digital banking, BforBank launched in 2009, offering a new approach to savings, life insurance, mutual funds and e-brokerage to the French mass affluent market. The online bank has since expanded to provide a full suite of retail banking services, with accounts, payments and lending products, including mortgages. Providing a simple and highly personalized experience “empowering customers to become their own private banker” has enabled BforBank to differentiate in an increasingly competitive market. Since its inception, Temenos core banking software has underpinned the bank’s back-office operations. As banking becomes more collaborative, moving to a fully cloud-native, API-first stack on Google Cloud will give the bank hyperscale agility, flexibility, and scalability to launch new services faster at a lower cost. The banking world is changing fast. After 12 years of successful operations and ahead of new strategic initiatives, we wanted to challenge our initial choices. We initiated a complex process and tested several software vendors with proof of concept on Google Cloud. Temenos was just the obvious choice, having invested relentlessly during the past years to deliver the most open and secure cloud banking platform for composing and deploying banking services at scale.” Pascal Luigi, Deputy CEO, BforBank. We have built a trusted partnership with BforBank and its parent Credit Agricole over many years. As BforBank looks to the future, we are delighted to build on this relationship to support its growth ambitions. To lead in the new banking world requires an open, cloud-native approach, enabled by AI, Open APIs, and modern DevOps practices, and this is what Temenos delivers. Being selected as BforBank’s cloud banking platform shows the bank’s confidence in Temenos to drive innovation and create new opportunities.” Max Chuard, CEO, Temenos. The banking industry is increasingly seeing that cloud technology is not just a driver of efficiency, but an enabler of change. Through our partnership with Temenos, we look forward to powering BforBank’s digital transformation which will enhance its banking services with highly connected and personalized interactions for customers at scale.” Zac Maufe, Head of Financial Services, Google Cloud. About Temenos Temenos AG (SIX: TEMN) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence. Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business.

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FINANCIAL MANAGEMENT

Finvasia Group Acquires ZuluTrade, the World's Largest Social Trading Network

Finvasia | December 15, 2021

Finvasia Group today announced the acquisition of Zulu Trade Group, the world’s largest and oldest social network for trading and investing. It’s supremacy as the largest “broker agnostic” social trading platform remains unchallenged even after 14 years of its operations. ZuluTrade has helped over a million investors across more than 100 countries and has traded in excess of USD 2 trillion worth of trades. In addition to ZuluTrade, the deal also includes AAAFx, which holds a portfolio management license from HCMC. This acquisition cements Finvasia’s leadership in the fintech and financial services industry globally. Finvasia has been expanding its presence across Europe, North America and Middle-East via various organic and inorganic expansions to create a complete ecosystem that will cater to the needs of retail and institutional investors. As of today, Finvasia owns over a dozen brands in the fintech and financial services industry and touches millions of investors around the world. It has physical presence in more than 5 countries, serves clients in over 150 countries and is regulated by over a dozen regulators across the world. Headquartered in Greece, Zulu Trade was the world’s first social trading platform that leveraged the powers of the trading community and algorithmic performance ranking to connect traders with investors. Its acquisition complements Finvasia group’s multi-phase strategy in building an integrated fintech ecosystem for investors from around the world. Sarvjeet Singh Virk, Co-founder & Chief Managing Director , Finvasia Group, said, “Since Finvasia expanded into Europe, we continue to cement our footprint in this fast-growing and sizable fintech and financial services market. We are excited to acquire ZuluTrade, which further enhances our offering and widens our customer base across Europe and around the world.” This acquisition enables Finvasia Group to focus on its financial services vertical as it continues to make strides and gain market share through product innovation and leadership. At Finvasia, we value creativity and innovation. Our goal is to create an ecosystem that supports the financial needs of an individual across investing, saving, spending and lending. Adding ZuluTrade to our suite of offerings, is another step in creating a wholesome ecosystem that will broaden our technological offerings across institutional and retail investors”. Tajinder Singh, Co-Founder & CEO, Finvasia Group. About FINVASIA Finvasia is a global enterprise that owns multiple brands in financial services, fintech, blockchain, real-estate, healthcare and technology sectors. The group invests in technology-oriented businesses and products and is committed to drive sustainable development and generate a positive impact with its businesses. Finvasia, along with its subsidiaries and sister concerns, is registered with a gamut of regulatory bodies across the world in various capacities. About ZULUTRADE ZuluTrade is the largest broker agnostic social trading platform and offers the largest database of signals and strategies currently available across the market, catering to both advanced and novice investors, with over twenty-six supported languages and state-of-the-art mobile apps.

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CORE BANKING

NBT BANK AND CEI-BOULOS CAPITAL MANAGEMENT LAUNCH HIGH-IMPACT REAL ESTATE EQUITY INVESTMENT FUND

NBT Bank | June 16, 2022

NBT Bank and CEI-Boulos Capital Management announce the launch of the NBT CEI-Boulos Impact Fund, a $10 million real estate equity investment fund with NBT Bank as the sole investor. The fund is designed to support individuals and communities with low- and moderate income through investments in high-impact, community supported, commercial real estate projects located within the bank's Community Reinvestment Act (CRA) assessment areas in New York. As a community bank, NBT is committed to the communities we serve, This includes doing our part to create stronger, healthier neighborhoods. We believe that investments in projects that deliver critical affordable housing can also have a ripple effect in supporting job creation and strengthening our communities." NBT Bank President & CEO John H. Watt, Jr. The NBT CEI-Boulos Impact Fund is managed by CEI-Boulos Capital Management, a fund management company focused on delivering competitive financial returns and social impact. CEI-Boulos helps banks achieve their CRA objectives by organizing and managing funds that invest in financially attractive, high-impact commercial real estate projects that benefit the communities in which they are located. CEI-Boulos prioritizes projects that represent collaborations between various entities—including non-profits, local and state government, philanthropic institutions, banks, community development finance institutions, community-based organizations, private investors, and local developers—that share a vision for their community. NBT will create a social impact advisory board to evaluate redevelopment and new construction projects, such as multi-family, mixed-use, industrial, office, retail and hospitality projects that closely align with community needs. The advisory board will provide input related to the social and environmental impacts of the fund's proposed investments. Areas of targeted impact will include: Projects that support job creation Affordable and workforce housing Main Street revitalization/historic preservation developments that do not contribute to gentrification/displacement Developments that serve non-profit organizations Environmentally sustainable real estate developments The project investment area includes the following counties: Chenango, Clinton, Cortland, Delaware, Essex, Franklin, Fulton, Greene, Hamilton, Montgomery, Otsego, St. Lawrence, Albany, Rensselaer, Saratoga, Schenectady, Schoharie, Madison, Onondaga, Oswego, Herkimer, Oneida, Broome, Tioga, Warren and Washington. About NBT Bank NBT Bank offers personal banking, business banking and wealth management services from locations in seven states, including New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine and Connecticut. The bank and its parent company, NBT Bancorp, are headquartered in Norwich, NY. NBT Bancorp had assets of $12.1 billion as of March 31, 2022 and is traded on the Nasdaq Global Select Market under the symbol NBTB.

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Spotlight

Swiss Banking Advisory is domiciled in the UK and encompasses a group of experts from financial institutions (asset management, insurance companies, banks, hedge funds, wealth managers), angel investors as well as IT experts. On the one hand, Swiss Banking Advisory is a consulting company and offers contract-based offshore project management, and on the other hand the company promotes Fintech and innovation in the world of banking and finance. Our company finds innovative solutions for financial institutions, angel investors, business angels and clients of financial institutions and also introduces them in educational.

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