Bonaccord Capital Partners made a strategic investment in Spear Street

Bonaccord | July 18, 2020

Spear Street Capital LLC ("Spear Street"), an owner and operator of office properties located in the United States, Canada and Europe, has announced that Bonaccord Capital Partners ("Bonaccord"), a division of Aberdeen Standard Investments ("ASI"), has made a strategic investment in Spear Street. Pursuant to the transaction, Bonaccord acquired a passive, non-voting minority interest and will provide capital to support the future growth of the firm.  The transaction will have no impact on the day-to-day management or operations of Spear Street.  Terms of the transaction were not disclosed.

Spotlight

Blockchain, the underlying technology of bitcoin, is drawing significant focus and investments from many financial institutions in the industry. Given the technology’s potential to both disrupt and enhance processes and systems, many firms have recently dedicated resources to understand and integrate blockchain into their businesses.


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CORE BANKING

BancTrust & Co. Investment Bank Announces Launch of U.S. Broker-Dealer Affiliate

BancTrust | May 13, 2022

BancTrust & Co. Investment Bank (BancTrust), a leading global emerging markets investment bank, today announced the launch of BancTrust Securities USA (BancTrust USA), its U.S. broker-dealer affiliate. BancTrust USA is a member of Financial Regulatory Authority (FINRA) and is registered with the Securities and Exchange Commission (SEC). BancTrust USA is based in New York City and will represent BancTrust with U.S. institutional investors and major U.S. institutional investors under a chaperoning agreement in compliance with SEC Rule 15a-6. The initial New York-based team is comprised of Jack Thomas, MD Fixed Income Trading; Erik Berg, MD Debt Capital Markets; Rafael Elias, MD LatAm Corporate Credit Strategy; Dan Bowers, ED Fixed Income Sales; and Maurice Batista, ED Fixed Income Sales. Prior to joining BancTrust USA, Jack was the Head of Emerging Market Trading - New York at Intesa Sanpaolo IMI Securities. He previously held positions at UBS Investment Bank, Santander, Societe Generale and ING Financial Markets. Jack has nearly 20 years of experience trading EM fixed income and has specialized in both Latin American and Asian credit markets. He holds a Bachelor of Arts in Economics and Accounting from the College of the Holy Cross. Erik has over 25 years of experience in international capital markets. He has had senior capital markets roles in New York at Deutsche Bank, ING, ABN Amro, Standard Bank of South Africa, Commerzbank, and Natixis, and been responsible for debt origination across Latin America including new bond issues, debt restructurings, debt buybacks and public and private sector debt exchanges. Mr. Berg is a graduate of Wesleyan University, Connecticut and holds an MBA from the IAE /Universidad Austral, Buenos Aires. Rafael (Rafa) was previously a Director of Research for Latin America at StoneX and formerly at Tellimer Markets. His experience spans over 25 years of being responsible for macro and corporate strategy at Cantor Fitzgerald, Credit Agricole, Knight Libertas, UBS, Deutsche Bank, ING, and Credit Suisse. Rafa holds a Master's degree in Public and Private Management (MPPM) from Yale University's School of Management and a Civil Engineering Bachelor's degree from Universidad Anahuac in Mexico. Dan is an investment professional with 20 plus years of experience in emerging markets. Before joining BancTrust USA, he held senior EM sales roles with Unicredit and Societe Generale. Previously Dan had trading roles at Moore Capital, Depfa Investment Bank and Galileo Asset Management. He has an MBA in Business Administration and Bachelors in Banking and Finance from Hofstra University. Maurice has over 20 years of experience in financial services, with a focus on global EM. Prior to joining BancTrust USA, he worked in EM institutional sales at Torino Capital and Stifel Financial. Previously, at Renaissance Capital Securities, he headed FICC sales in New York, focusing on Russia, CIS and Africa. He began his career in emerging markets at Chase Securities and has also worked in sales at BBVA and Cantor Fitzgerald. He holds an MBA from NYU Stern School and a BA in Political Science from UCLA. I am thrilled to announce the expansion of the BancTrust group in the U.S. We have assembled a senior team with extensive experience in dealing in frontier and emerging markets. Our New York presence will enable us to better serve and grow our current U.S. client base as we aim to be their trusted partner in emerging markets." CEO Carlos Fuenmayor. About BancTrust & Co. BancTrust & Co. Investment Bank is a leading London-based global emerging markets investment bank that offers corporate and investment banking, securities dealing and financing, investment research products and services to a diversified client base mainly comprised of emerging and frontier markets-based corporations, financial institutions, governments, and dedicated global EM asset managers.

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FINANCIAL MANAGEMENT

BearingPoint and SIX Launch a Collaboration for Payments and Request-To-Pay

BearingPoint | December 18, 2021

Management and technology consultancy BearingPoint and the Swiss financial market infrastructure operator SIX are partnering to develop a fully integrated invoice-to-payment service. The service will digitalize the entire value-added chain from the issue of the invoice to its payment: invoice issuers will send invoices directly and securely to their customers’ online and mobile banking applications. Customers can verify all the information online and then approve payment of an invoice at the click of a button. This service will also support the SEPA Request-To-Pay (SRTP) functions. The platform is based on the eBill processing infrastructure of SIX, as this is already well established in Switzerland and will be rolled out in Europe with BearingPoint’s industry experience. The goal is to offer banks in Europe a model that has been tested in Switzerland and that enables the receipt of invoices and the release of payments directly through those banks’ electronic banking platforms. A key advantage is the ease of integration into the banks’ environments, thereby enabling fast and cost-effective implementations. The timing for the rollout of the solution depends on the participation of banks and invoice issuers in the respective countries. BearingPoint and SIX are currently planning for the first applications in the European market by 2023. “With eBill, SIX has established a successful solution for digital invoices in the Swiss market. It is used by around 100 financial institutions and already reaches more than half of Swiss households. In our next step, we want to implement this innovative solution across Europe in partnership with BearingPoint,” emphasizes Marco Menotti, Head of Banking Services and Member of the Executive Board of SIX. “The role of the bank account in payment processing is undergoing a fundamental change. Banks need to address how they will position accounts with their customers in the future. Our joint solution offers banks a way to link accounts with additional services that are related to invoice receipts and payments, and creates an overall win-win-win situation for banks, consumers and businesses,” adds Thomas Steiner, Global Leader Banking & Capital Markets at BearingPoint, explaining the motivation for the initiative. With our innovative solution, we can help invoice issuers achieve significant cost savings when processing transfers. It also massively improves the user experience for debtors, as they receive invoices and initiate payments in a single step and within the familiar digital environment of their own bank. For banks, this will result in a strengthening of their customer relationships and – through the reductions in paper invoices – also contribute to environmental protection” Stefan Schütt, head of the RTP initiative at BearingPoint. About SIX SIX operates and develops infrastructure services for the Swiss and Spanish stock exchanges and for securities services, banking services and financial information with the aim of improving efficiency, quality and innovative capacity across the entire value chain of the Swiss and Spanish financial centers. The company is owned by its users (121 banks). With a workforce of around 3,500 employees (full-time equivalents) and a presence in 20 countries, it generated operating income of CHF 1.38 billion and Group net profit of CHF 439.6 million in 2020. About BearingPoint BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three business units: The first unit covers the advisory business with a clear focus on selected business areas. The second unit provides IP-driven digital assets and managed services beyond SaaS. The third unit is designed to explore innovative business models with clients and partners by driving the financing and development of start-ups and leveraging ecosystems. BearingPoint’s clients include many of the world’s leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 70 countries, engaging with them to achieve measurable and sustainable success.

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PAYMENTS

Sphere Launches New Semi-integrated Payment Solution for Software Vendors Featuring PAX Terminals

Sphere | May 21, 2022

Sphere, a leading provider of end-to-end integrated healthcare payments and security software, today announced that it has launched a new payment solution for Independent Software Vendor (ISVs) that features integration with PAX terminals. PAX is the world's preferred payment terminal solutions provider and has delivered over 60 million terminals to more than 120 countries across the globe. The new solution enables ISVs to integrate their core Software-as-a-Service (SaaS) products with a secure cloud-based payment solution that accepts payments on PAX terminals for a wide range of payment methods and industry standards including Europay, MasterCard and Visa, (EMV), Near-Field Communications (NFC), Google Pay, and Apple Pay. This semi-integrated solution allows software vendors to integrate payments through a pre-certified, pre-integrated device that communicates directly with the gateway. Benefits include: Reduced development costs Easily add EMV, NFC without complex certifications Faster time to market Payment card industry security standards scope reduction We are extremely excited to bring a solution to market that solves all of the challenges that ISV providers face when trying to enhance their core product to accept EMV, NFC, Apple Pay, and Google Pay transactions, With a simple integration, plug-and-play customer implementation, reducing PCI PA-DSS scope, all through a single application programming interface integration that works harmoniously with our eCommerce solutions, this is truly a significant evolutionary step in payments that will benefit any ISV provider." Curtis Bauer, Chief Innovation Officer, Sphere. Sphere provides an end-to-end payments platform that provides software vendors with broad payment acceptance functionality, merchant services, elite-level security, and expert support throughout the payments lifecycle. PAX terminals feature modern, intuitive design, as well as a developer-friendly Android-based system that allows for rapid, simple integration and implementation. SaaS providers need a simple, convenient method of integrating payment-acceptance functionality into their core offerings, Through PAX's partnership with Sphere, ISVs now have a cloud-based option to accept payments via the industry's widest portfolio of innovative and secure payment devices." Heather Mlachnik, Senior Vice President of Acquiring and ISO Sales, PAX. About Sphere Sphere is a cloud-based, vertically integrated software and payments technology company serving a variety of complex end markets with an established market leading presence in the healthcare and non-profit sectors. Sphere was formed in 2017 after a few strategic acquisitions, and today offers benefits to our partners and customers via three key sub-brand companies that have been established for over 20 years. Sphere is trusted by more than a third of the 100 largest health systems in the US and thousands of independent medical providers across the country to facilitate and drive secure payments by having our software solutions highly integrated into our clients' workflows, patient billing systems, and electronic health records. Our integrated software and payments suite helps organizations increase payment collection while delivering best in class security, compliance instruments, and a single payment stack standardized for reporting and reconciliation. Sphere also provides fundraising software solutions and tools to 8,000 nonprofits in the US and Canada and maintains key integrations in high growth verticals like insurance, parking and transportation. About PAX PAX Technology, Inc. is one of the largest electronic payment solution providers in the world, supplying value-added payment solutions since 2001. As a leading global manufacturer of payment solutions, we are committed to delivering innovative, high-quality, and secure payment solutions to businesses, large and small, worldwide, with payment terminals built on security and optimized for performance.

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PAYMENTS

Versapay Acquires Leading Cash Application Fintech Company DadeSystems

Versapay | April 20, 2022

Versapay, the leader in Collaborative Accounts Receivable, announced today it has completed its acquisition of U.S.-based fintech company DadeSystems. The acquisition broadens Versapay's suite of accounts receivable (AR) automation solutions and expands its AI and machine learning capabilities. It also expands the company's enterprise and mid-market footprint while adding key talent to the growing Versapay team. We are very excited to welcome DadeSystems' employees, customers, and partners to Versapay, Versapay and DadeSystems have enjoyed a successful partnership for some time, and most importantly we share a common vision for the digitization of the AR process. Together, we can accomplish even more to close the digital transformation gap in AR, optimizing our clients' cash flow and driving operational efficiencies." Craig O'Neill, CEO, Versapay. DadeSystems has been a long-term technology partner of Versapay. The company's flagship DadePay cash application software automates one of the most challenging parts of AR by streamlining the receipt, matching, and reconciliation of payments no matter how they are received, and is already embedded in Versapay's cloud-based, automated AR platform. Now, all DadeSystems solutions, including mobile offerings, will be available to Versapay's clients and partners. By adding DadePay solutions to Versapay's Collaborative AR Network, enterprises can digitize and automate all their customer payments, including checks, bank-to-bank transfers, credit cards, and mobile payments. The combined company automates more than $60 billion in payment volume annually and has achieved rapid revenue growth in the past 12 months. DadeSystems investor, Ten Coves Capital, is rolling its stake into Great Hill Partners-backed Versapay, while both Great Hill Partners and Ten Coves Capital are contributing additional capital to fund the acquisition. This acquisition will give Versapay an unmatched, comprehensive suite of AR automation solutions, perfectly positioning the company to capture the growing market opportunities, We look forward to a successful partnership as these innovators come together to revolutionize the way accounts receivable teams work." Matt Vettel, Managing Director, Great Hill Partners. DadeSystems predominantly serves upper mid-market and enterprise customers, including two of the ten largest U.S. food distributors, two of the ten largest U.S. building materials and nine of the sixty-five largest U.S. banks in addition to being a technology provider for Wells Fargo's and Fifth Third's accounts receivable automation solutions. DadeSystems also brings important partners to Versapay, such as Fiserv, to support the company's rapid growth. We are thrilled to become part of Versapay, The accounts receivable function has been desperately in need of a workflow revolution. The cloud-based solutions that both our teams have introduced are making this happen. By joining forces, we will see even faster growth and a bigger impact on the industry's digital transformation." Bill Zayas, CEO, DadeSystems. The DadeSystems team will continue to operate in Miami and will be fully integrated with Versapay's North American teams. Alston & Bird LLP acted as legal advisor to Versapay. William Blair acted as exclusive financial advisor and Morris, Manning & Martin LLP acted as legal advisor to DadeSystems. About Versapay Versapay is the leader in Collaborative Accounts Receivable (AR). The Versapay Collaborative AR Network is the first solution that empowers the genius of teams by bridging the gap between suppliers and buyers through a shared, digital experience. Versapay's AR automation solutions and next-generation B2B payments network makes billing and payments easier for enterprises, increasing efficiencies, accelerating cash flow, and dramatically improving the customer experience. Versapay has offices in Toronto, Atlanta, London, Amsterdam, and Sydney, and is owned by Great Hill Partners, a Boston-based technology investment firm. About DadeSystems DadeSystems helps businesses unlock the possibilities of smarter AR. Today's AR teams are challenged by complex business payment processes. The DadePay suite of integrated AR automation solutions can quickly solve finance leaders' most pressing AR challenge—manual cash application. With an easy implementation, straight-through cash posting rates of 90%+, and award-winning mobile capabilities, DadePay is used by hundreds of businesses across industries to receive, match, and apply any payment from any channel. AR teams gain efficiencies that drive scalability, reduce payment processing costs, improve customer payment experiences, and provide faster access to cash. Seven of the top sixty-five North American financial institutions deliver the market-leading DadePay solution to their corporate customers. About Great Hill Partners Great Hill Partners is a Boston-based private equity firm targeting investments of $25 million to $500 million in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. Over the past two decades, Great Hill has raised over $12 billion of commitments and invested in more than 90 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. Great Hill has recently been recognized for its industry leadership, being ranked #5 in the 2021 HEC - DowJones Private Equity Performance Ranking, which evaluated fund performance of 517 leading private equity firms between 2008 – 2017.

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Spotlight

Blockchain, the underlying technology of bitcoin, is drawing significant focus and investments from many financial institutions in the industry. Given the technology’s potential to both disrupt and enhance processes and systems, many firms have recently dedicated resources to understand and integrate blockchain into their businesses.

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