Contis Partners With Fintech Startup Ordo

Cision PR Newswire | October 14, 2020

Leading European payments provider, Contis, is excited to announce a new partnership with UK fintech startup Ordo. Contis is powering the fintech revolution, helping businesses unleash their true potential with award-winning real-time payment solutions. Contis puts next generation accounts, cards and apps in the hands of their customers. Ordo is also helping businesses and organisations unleash their potential with technology that makes getting paid easy. With smart, secure and automatic bank transfers, it's one of the safest and fastest ways of managing finances between people. It also takes the hassle out of requesting and tracking business payments with immediate money transfer and automatic invoice reconciliation. This partnership will soon make loading accounts quicker and simpler for Contis' end-customers. With the potential to benefit over 800,000 accounts, it'll also simplify loan repayments, fund transfers between contacts and even splitting bills between friends.

Spotlight

On 1 April 2019 HM Revenue & Customs (HMRC) and HM Treasury (HMT) published a consultation document “Capital Gains Tax: Private Residence Relief: changes to the ancillary reliefs”. The consultation sought views on changes announced at Budget 2018 to lettings relief and the final period exemption. In addition, the consultation suggested some technical changes to aspects of the private residence relief (PRR) rules to make them fairer.


Other News
BITCOIN AND CRYPTO

Facepay Announces Facepay Crypto to Bring Cryptocurrency Payments to Auto Shops

Facepay | March 07, 2022

Facepay Inc. announced today the release of Facepay Crypto, an addition to its pioneering relational payments platform known for freeing business owners from credit card transaction fees and leveraging the security of blockchain technologies. Facepay’s Relational Payments disrupted the industry with its bold fixed-price subscription model in late 2020 and is poised to shake up the payments industry again with the introduction of Facepay Crypto. Built on a private Ethereum network, Facepay Crypto will allow shops to accept Bitcoin, Ethereum, and other cryptocurrency payments from customers directly, displacing complicated fee structures associated with legacy payment processing. And because payments made on the blockchain are irrevocable, they are not subject to the chargeback, fraud, and dispute processes that credit cards are. We figured out how to provide the advantages of Bitcoin and other cryptocurrencies into the platform while still maintaining that auto repair shops are paid directly, Consumer cryptocurrency will only increase over time, and repair shops should be investing in the right technology to take advantage of it. If not, Bitcoin will be just another payment method that costs shops money. Every direct payment made with Facepay results in a 15-20% more profitable transaction.” Dr. Mark Hale, the founder of Facepay. Cryptocurrency is entering the mainstream, just as repair shops are already heavily burdened with excessive credit card fees and planned fee increases. Facepay will allow shops to integrate alternative payments into their workflow and immediately realize additional profit gains because customers pay businesses directly, circumventing the traditional payment processor entirely. We all need to keep in front of our client’s experience. Contactless and digital payment methods are everywhere today. Adoption rates for these transactions are climbing higher and higher. Facepay’s platform saves me money, while remaining convenient and secure. Facepay is the right payment technology now and for the future.” Greg Buckley, Owner of Buckley’s Auto Care. Currently, there is no other platform on the market designed for auto shops to offer crypto-ready, direct banking with the security of blockchain technology. As a Diamond Partner, Facepay is the Preferred Payments to members of the Automotive Training Institute. Members can learn more about Facepay Crypto at the showcase held at the ATI SuperConference 2022 in Carlsbad, CA, March 16-19 and on their member portal. Auto shops attending the 2022 VISION HiTech Training & Expo in Kansas City, MO, on March 3-5 can visit us at the Facepay booth #435. About Facepay The Facepay Relational Payments payment platform helps business owners increase profits by eliminating credit card processing fees. Facepay’s technology allows auto shop owners to adopt a modern payment platform with a low-cost, fixed monthly subscription as an alternative to paying 2% - 3% of revenues to credit card processors. Facepay works with all management systems with an easy-to-use dashboard easily incorporated into existing workflows. On average, US auto repair shops using the Facepay model add $25,000 to their bottom line annually. Facepay enables repair shops to offer their customers multiple payment options, including contactless payments, monthly installments, and service subscription plans.

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FINANCIAL MANAGEMENT

Wave Financial Launches ADA Yield Fund to Support Cardano DeFi Ecosystem Growth

Wave Financial | April 01, 2022

Wave Financial LLC (Wave), a SEC regulated digital asset investment management company, is pleased to announce the launch of the Wave ADA Yield Fund. The fund is designed to provide liquidity with millions in line to support new decentralized finance (DeFi) platforms launched in the Cardano ecosystem starting with an initial $100M. We're thrilled to continue breaking ground in the field of cryptocurrency through the creation of innovative new funds, and today we are launching what we believe is the first pure liquidity provisioning fund in crypto, Our new fund will support the new decentralized exchanges, lending protocols, and stablecoin issuers building on Cardano. Each of these decentralized applications adds to the strong foundation of the Cardano blockchain as it realizes a fully functional and diverse ecosystem." David Siemer, CEO of Wave Financial. The new ADA Yield Fund represents the continuation of Wave's mission to support promising entrepreneurs within the crypto space beyond the early stage and foster greater innovation in the overall crypto ecosystem. Since the formal launch of smart contracts in 2021, the Cardano community has launched and funded hundreds of companies building on the Cardano blockchain, Cardano's growing ecosystem is hosting an ever expanding universe of applications supporting significant numbers of active users – it's critical for the success of the ecosystem that Cardano-based projects thrive, and so we are pleased that the ADA Yield Fund is committing substantial financial resources to facilitate continued growth and market acceptance." Charles Hoskinson, founder of Input Output. Historically, DeFi dApps are among the most popular in crypto in terms of bringing more users and applications on-chain. Specifically, decentralized exchanges (DEX) and DeFi lenders have gained the fastest popularity in terms of attracting users and capital. DEX typically are set up without market makers, but with two pools of assets that represent each side of a trading pair that serve as a source for DEX counterparties to trade against when they want to transact on either side of the pair. Wave will be using the ADA Yield Fund to provide liquidity to these pairs of pools to support Cardano DEXes. For DeFi lenders, there will also be a similar form of support to augment liquidity to facilitate lending. Also, Wave will continue to support and expand stake pools to strengthen the Cardano network. EMURGO is excited to support the creation of this valuable ADA Yield Fund to further drive expansion and adoption of Cardano's quickly developing DeFi ecosystem, Providing strategic capital resources through the fund will help talented entrepreneurs and projects to build essential DeFi services on Cardano, ultimately delivering impactful solutions and onboarding more users to the global Cardano community." Ken Kodama, founder & CEO of EMURGO. About Wave Financial Wave Financial LLC (Wave) is a Los Angeles based investment management company that provides institutional and private wealth digital asset management solutions. Led by a team of highly experienced financial services professionals, Wave provides investable funds via diverse investment strategies applied to digital assets and tokenized real assets. Wave also offers managed accounts for HNWIs and family offices seeking tailored digital asset exposure, bespoke treasury management services, and early-stage venture capital and strategic consultation to the digital asset ecosystem. Wave is registered with the US Securities & Exchange Commission as an investment adviser.

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FINANCIAL MANAGEMENT

Keep Financial Launches New Compensation Platform to Attract Top Talent and Increase Employee Retention

Keep Financial Technologies | May 19, 2022

Keep Financial, the technology company revolutionizing compensation to enhance recruiting and retention, today announced the Keep™ platform and its initial Keep Vesting Cash Plans. With Keep, companies can attract and retain high-quality employees with upfront cash payments that vest over time, supporting an employee's personal goal such as a down payment on a house, repaying student loans, investing for retirement, and more. An easy-to-use platform, Keep works for any industry and in a variety of use cases, including differentiating job offers in a crowded labor market, targeting key workers at competitive firms, retaining employees in the wake of M&A activity, ensuring key employees feel valued, and more. Andreessen Horowitz led Keep's $9 million seed round with additional investment from Launchpad Capital, Thomvest Ventures, Cambrian Ventures, and Worklife Ventures. The company's co-founders include CEO Rob Frohwein and President Kathryn Petralia, who previously co-founded Kabbage®, a cash flow management fintech that was acquired by American Express in 2020. The war for talent is real, but the current approach to compensation – from stock options to spot bonuses – is broken. Companies have trouble designing compensation for retention and performance, while employees struggle to understand how their accomplishments are tied to their earnings, Keep was designed to unlock the full potential of companies by enabling them to hire and retain the exact people they need in terms of performance, culture, industry expertise and more. In the world of Keep, cash truly is king and the focus is on finding and retaining the most impactful employees that will drive growth and profitability for the company." Frohwein. Keep's Vesting Cash Plans allow employers to offer a portion of compensation as usable cash, delivered to employees upfront, and vested or forgiven over time. In return, the employees commit to remaining active, supportive workers during that time period. Keep's Vesting Cash Plans can range from a few thousand dollars for entry-level jobs with high turnover rates to six figures or more for senior roles requiring specific skills and experience, ensuring it is a compensation option across the entire labor market. Keep could save HR teams countless hours in repeat recruiting and millions in lost institutional knowledge by helping companies attract, secure, and ultimately retain the top talent needed to succeed in the industry." Rick Jensen, former Head of People at HeadSpace and Intuit. About Keep Financial Technologies, Inc. Keep Financial is revolutionizing compensation to enhance recruiting and retention – aligning compensation with business objectives, ROI, and performance. Through the intuitive Keep™ platform, employers can create customizable Vesting Cash Plans to attract top talent, assure retention, and increase overall employee satisfaction and productivity. Keep's Vesting Cash takes compensation to an entirely new level – providing employees with usable capital up front to satisfy personal goals while enabling employers to retain talent to secure the business' long term success. Keep is backed by Andreessen Horowitz, Launchpad Capital, Thomvest Ventures and Cambrian Ventures.

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CORE BANKING

Trona Valley Federal Credit Union and Lumin Digital Announce Partnership for Enhanced Digital Banking Services

Lumin Digital | April 21, 2022

Lumin Digital, a PSCU company, announced today that Trona Valley Federal Credit Union (Trona Valley) has signed a multi-year agreement for Lumin Digital's cloud-native platform for online and mobile digital banking solutions. Lumin Digital will support Trona Valley's more than 23,000 members and more than $320 million in assets once the credit union goes live on the platform in May 2022. Trona Valley Federal Credit Union, based in Green River, Wyoming, is a 100% member-owned financial institution dedicated to providing avenues to financial success for every individual member. With a philosophy of "People Helping People", Trona Valley strives to evolve product and service offerings to meet the financial needs of its members, provide individualized attention and put forth every effort to enable members to become financially self-sufficient. Lumin Digital, a cloud-native digital banking platform, provides credit union members with a tightly integrated and customized experience that matches larger financial institutions' offerings. Focusing on service, user experience, safety, and security through sophisticated automation, Lumin Digital helps credit unions and financial institutions drive better engagement with their users through personalized recommendations and communication in the areas of spending insights, financial advice, fraud alerts, and savings goals. Lumin enables credit unions to provide users with real-time updates and new features that add value and simplify everyday banking. All of Lumin's offerings and capabilities are made possible by the team's wealth of industry knowledge, user experience testing, and technological innovation. We're always looking to make banking with Trona Valley FCU easier for our members, We believe Lumin's Digital's platform does just that." Jeremy Gibson, CEO at Trona Valley Federal Credit Union. Trona Valley's commitment to improving the banking experiences of its members whenever and wherever life takes them makes the credit union a natural fit for Lumin's cloud-native digital banking platform, Our comprehensive digital experience will not only expand their core digital offerings to better compete against the nation's leading financial institutions, but will also ensure a smooth transition for their members, ultimately enabling faster time to market for their exciting future digital roadmap items." Jeff Chambers, founder and CEO of Lumin Digital. Lumin Digital continues to drive innovation in the digital banking space, differentiating itself through technology built for human connection. Lumin Digital's offering provides seamless integration to a wide array of PSCU and other platform tools and capabilities, including card services, rewards management, and data analytics to provide a member-centric experience. About Lumin Digital Lumin Digital is a fintech company specializing in digital banking solutions. Through a fundamentally different approach to technology, service, and people, we're creating the next generation of financial solutions each and every day. Lumin helps credit unions and financial institutions build and deploy next-gen digital experiences that help to continually serve, engage, and grow their membership base. While other platforms are partially adapted or retrofitted for the cloud, Lumin is 100% cloud-native. It was built specifically for the cloud environment, allowing us to more fully realize the advantages it offers. It's a difference that financial institutions and their users will see and feel almost immediately. About Trona Valley Federal Credit Union Trona Valley Community Federal Credit Union is a community credit union serving southwest Wyoming for nearly 60 years. Formed through a merger of FMC Employees FCU and Stauffer Big Island FCU, we are open to membership to anyone who lives, works, worships, or attends school in Sweetwater, Uinta, Sublette, Lincoln, Carbon, and Teton counties in Wyoming; and Rich, Morgan, Summit, and Daggett counties in Utah. About PSCU PSCU, the nation's premier payments CUSO, supports the success of more than 1,900 financial institutions representing nearly 7 billion transactions annually. Committed to service excellence and focused on innovation, PSCU's payment processing, risk management, data and analytics, loyalty programs, digital banking, marketing, strategic consulting and mobile platforms help deliver possibilities and seamless member experiences. Comprehensive, 24/7/365 member support is provided by contact centers located throughout the United States. The origin of PSCU's model is collaboration and scale, and the company has leveraged its influence on behalf of credit unions and their members for more than 40 years. Today, PSCU provides an end-to-end, competitive advantage that enables credit unions to securely grow and meet evolving consumer demands.

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Spotlight

On 1 April 2019 HM Revenue & Customs (HMRC) and HM Treasury (HMT) published a consultation document “Capital Gains Tax: Private Residence Relief: changes to the ancillary reliefs”. The consultation sought views on changes announced at Budget 2018 to lettings relief and the final period exemption. In addition, the consultation suggested some technical changes to aspects of the private residence relief (PRR) rules to make them fairer.

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