Hugh Bolton, Managing Director, appointed as BBH Country Head in Switzerland

Brown Brothers Harriman | September 22, 2016

Brown Brothers Harriman is pleased to announce the appointment of Hugh Bolton as Managing Director and Office Head for Zurich. Mr. Bolton will be responsible for the firm’s strategic alignment with institutional and private bank clients and will have responsibility for BBH's European Relationship Management discipline. He will report to Geoffrey Cook, co-head of BBH’s EMEA business and Supervising Partner for Zurich.

Spotlight

Alternative investors are under perpetual stress these days. With today’s fastchanging market and increasing scrutiny on GPs at venture capital and private equity firms, it is extremely difficult to have consistent valuation results with clear standards. Of course, all of this is exacerbated by an inherent lack of scalability during rapid growth.


Other News
FINTECH

STAMPLI TRANSFORMS ACCOUNTS PAYABLE DATA INTO ACTIONABLE BUSINESS OUTCOMES WITH LAUNCH OF STAMPLI INSIGHTS

Stampli | May 20, 2022

Stampli, a B2B Fintech leader in Accounts Payable (AP) Automation, today unveils Stampli Insights for Accounts Payable teams to gain complete visibility into their AP data to optimize workflows and improve operational efficiencies with their invoice automation and processing. Stampli Insights brings together three built-in capabilities available in the Stampli platform including Advanced Search, Stampli Reports, and the newly launched Stampli Dashboards. With Stampli Insights, customers can easily search, visualize, and drill down into accounts payable data so they can make more informed decisions for their business, Stampli has always provided full visibility into the invoice lifecycle for our customers, but now CFOs and Controllers can unlock that underlying data to improve operational efficiencies, identify approval bottlenecks, maximize employee productivity, and strengthen great supplier relations." Tiffaney Fox Quintana, Vice President of Marketing at Stampli. Stampli currently has United States office locations in Mountain View, California and Nashville, Tennessee, and internationally in Tel Aviv, Israel and Kiev, Ukraine. Stampli was most recently recognized in G2's 2022 Best Software Awards for "Best Software Products," "Best Accounting & Finance Products," "Best Mid-Market Products," and "Highest Satisfaction Products." Stampli also earned recognition as "The Best AP Solution for 2022" in the FinTech Breakthrough Awards; named on the "Top Fintech Companies of 2021" list by CB Insights; designated one of the "Top 50 Most Promising Startups in Israel" by CTech; named "The Best AP Automation Company in the USA" from New World Report; earned top marks by Comparably for "Best Company Outlook," "Best Company Work-Life Balance," "Best CEO," "Best Company for Women," "Best Company for Diversity," and "Best Company Culture." About Stampli Stampli is a complete AP automation platform that brings together accounts payable communications, documentation, corporate cards, and payments all in one place, allowing AP to have full control and visibility over corporate spending. By centering communications on top of the invoice itself, AP departments collaborate and communicate better with approvers, vendors, and anyone else involved with purchases, allowing approvals to happen 5x faster. In addition, Stampli's AI, Billy the Bot, learns an organization's unique patterns to simplify GL-coding, automate approval notifications, identify duplicate invoices, and reduce time spent on manual data entry. Stampli's flexible platform fits seamlessly into any existing processes and integrates with financial systems, including NetSuite, Sage Intacct, QuickBooks, Microsoft Dynamics, SAP, and more.

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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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BITCOIN AND CRYPTO

BitPay’s Accurate Payment Protocol Adopted by Exchange Partners Bitso, Bitstamp and Wallet Partners Edge and Guarda

BitPay | April 25, 2022

BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, today announced two new exchanges and two new wallets are adopting its accurate payment protocol including top crypto providers Bitso, Bitstamp, Edge, and Guarda. BitPay’s accurate payment protocol, the BitPay Protocol, enables more reliable blockchain payments by eliminating common payment exceptions including overpayments, underpayments, late payments, unconfirmed payments, and potential double-spend payments. In addition to the new partners, the BitPay Protocol has already been adopted by Blockchain Wallet, the world’s largest self-custody wallet. Many other leading wallets are also payment enabled including Electrum, BRD, Metamask, Ledger and more. Verifone’s 600,000 merchants, with a footprint of 35 million devices, also have BitPay’s Payment Protocol automatically enabled for in-store and online purchases. BitPay first launched its accurate payment specification in 2017 to eliminate payment exceptions in transactions made with cryptocurrency, setting the standard currently adopted by top wallet organizations. Since then, the company has expanded upon the available features and now businesses can accept crypto through BitPay and receive error-free payments from over 200 million crypto users. As a blockchain payment processor, BitPay’s goal is to work with all wallets, and BitPay is the only payment processor who works with more than 100 different wallets to facilitate and optimize consumer to business and business to business payments. The company has processed over $5 billion in payments volume since inception, for tens of thousands of businesses worldwide. Businesses accepting crypto should be able to accept payments from any crypto wallet and payments should post fast and be free of payment expectations. BitPay Protocol delivers on all these benefits and BitPay is pleased that our new and existing wallet and exchange partners have set the industry bar for payment quality, We are developing payment technology solutions to transform how businesses and people send, receive, and store money around the world making payments faster, more secure, and less expensive.” Stephen Pair, CEO of BitPay. Since the founding of Edge, we have always been passionate about people truly using cryptocurrency to buy and sell goods and services, We are happy to support the BitPay Payment Protocol to streamline the user experience at the point of sale for thousands of merchants and further drive adoption of cryptocurrency.” Paul Puey, CEO / Co-founder at Edge. About BitPay Founded in 2011, BitPay is one of the oldest cryptocurrency companies. As a pioneer in blockchain payment processing, the company’s mission is to transform how businesses and people send, receive, and store money. Its business solutions eliminate fraud chargebacks, reduce the cost of payment processing, and enable borderless payments in cryptocurrency, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth.

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INVESTMENT MANAGEMENT

Mastercard Unveils Next-Generation Virtual Card Solution for Instant B2B Payments

Mastercard | January 24, 2022

Mastercard today announced the launch of Mastercard TrackTM Instant Pay, a next-generation virtual card solution that uses machine learning and straight-through processing to enable instant payment of supplier invoices. Integrated with Mastercard Track Business Payment Service, Mastercard’s open-loop B2B network, the new, first-of-its-kind virtual card solution delivers greater choice, efficiency and automation for buyers and suppliers to help streamline and speed business payments. Slow and inefficient payment processes continue to create challenges for businesses. Lengthy payment terms and late invoice payments impact cash flow for suppliers, while manual invoice approval and check processing is costly and time consuming for buyers. Other payment methods, like ACH, require buyers to safeguard sensitive bank account information, adding another layer of complexity. Research shows a growing demand from businesses to automate supplier payments with virtual cards, but existing solutions aren’t meeting these needs, with 90% of virtual card transactions still being processed manually1. Mastercard Track Instant Pay is the first virtual card solution that can safely and intelligently authorize an immediate payment to a supplier once they submit an invoice. The solution uses sophisticated machine learning to analyze invoices and identify those likely to be rejected, enabling the rest to be authorized for payment on the same day they’re received. Using straight-through processing, digital payments are sent directly and securely to a supplier’s bank account via a Mastercard virtual card, with no manual intervention required. Delayed payments create significant challenges for businesses financially and operationally, especially in today’s environment. New Payment Flows, North America at Mastercard. “Track Instant Pay helps solve these pain points by enabling buyers and suppliers to automate their manual payment processes, unlocking valuable time, working capital and choice. This innovative new solution is the latest step in our ongoing commitment to support multiple payment rails and mission to modernize B2B payments.” Ron Shultz, executive vice president Mastercard Track Instant Pay combines machine learning capabilities from Previse, an artificial intelligence and data science company, with Mastercard’s core commercial solutions and global payment network to transform how businesses send and receive payments. The solution is part of Mastercard’s comprehensive suite of B2B products and services designed to reduce complexity and risk, cut costs, and automate processes for businesses around the world. About Mastercard Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

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Spotlight

Alternative investors are under perpetual stress these days. With today’s fastchanging market and increasing scrutiny on GPs at venture capital and private equity firms, it is extremely difficult to have consistent valuation results with clear standards. Of course, all of this is exacerbated by an inherent lack of scalability during rapid growth.

Resources