CORE BANKING

Metrobank Collaborates With Backbase To Accelarate Digital Transformation

Metrobank, Backbase | May 10, 2021

Backbase, a supplier of engagement banking technologies, has announced the renewal of its relationship with Metro Bank, a major UK retail and commercial challenger bank. Backbase will provide dedicated digital innovation assistance to Metro Bank's business banking customers as part of the renewed relationship. Metro Bank is able to further improve and customise the experience provided to its business customers by using the new cloud-native iteration of Backbase's software, which provides a plethora of off-the-shelf accelerators for business banking.

This collaboration extension comes five years after Backbase and Metro Bank first started working together, with the primary strategic goal of leveraging Backbase's leading digital banking technology infrastructure to offer a best-in-class customer loyalty experience and pave the groundwork for an agile digital banking operation – all while generating cost efficiencies.

Metro Bank will be able to expand and mature its digital banking offering with a customer-centric approach while continuing to deliver on its aggressive digital innovation agenda by partnering with Backbase in the long term.

Metro Bank's Chief Information Officer, Cheryl McCuaig, says, "Backbase has been a committed digital technology partner to us from the beginning, and we are continuously pleased by the company's investments in science and innovation."
We've gained greatly from direct access to Backbase's continuing in-house innovation, and we've been able to reduce our IT costs by using the cloud-native technologies.
We are looking forward to strengthening our friendship and reaping the rewards of Backbase's unrivalled contribution to assisting us in maintaining our competitive edge.”

"We're delighted to be continuing our relationship with Metro Bank, allowing them to deliver a streamlined consumer service at all touch points," says Frank Uittenbogaard, Regional Vice President, Europe at Backbase.
Metro Bank's adoption of a client-centric, human-first approach to banking aligns with our core market principles as the first genuine challenger bank taking on the Big Four.
We are thrilled to be assisting Metro Bank in continuing its ambitious growth and achieving excellent market and customer results through the use of emerging technology.”

Spotlight

The blockchain in 2019 is included in the compulsory dictionary of every educated person. And it does not matter how old you are, what your education is and what your relationship is with “this is your internet”. This is because the blockchain technology underlies cryptocurrencies and is not only a prerequisite for their existence, but also many more new products of the future.


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PAYMENTS

Mollie partners with Chargebee to deliver effortless subscription payments

Mollie | January 28, 2022

Mollie, one of the fastest growing payment service providers in Europe, today announced its partnership with subscription management platform Chargebee to help drive growth for its customers. The integration with Chargebee simplifies subscription billing for merchants, providing an easy-to-install, out-of-the-box subscription management platform that offers all leading European payment methods, including iDEAL, SEPA Direct Debit, and credit cards. It also offers local, multilingual support – vital to Mollie's customers operating throughout Europe. We want to make payments effortless for everyone, so we're thrilled to partner with Chargebee to provide the best-in-class subscription management and billing capabilities to empower businesses to grow. Together, our seamless integration will offer entrepreneurs the tools they need to easily start and scale up their subscription-based businesses. We're looking forward to working with Chargebee to drive growth for our customers." Shane Happach, CEO at Mollie Consumer behavior is changing quickly, with online purchases and subscription payments witnessing continuous growth in the past few years. For many start-ups and small businesses, the subscription-billing process allows them to scale rapidly, opening up new revenue streams. It also empowers businesses of all sizes to optimise their growth potential through recurring payments rather than one-time sales, increasing customer loyalty. "We are excited to team up with a leading payment service provider like Mollie to offer an all-in-one subscription management and billing solution to manage payments, service and support on a global scale," said Eric Chan, Head of Global Partnerships at Chargebee. "The integration empowers our merchants to accept leading European payment methods to drive sales and grow their subscription business in multiple geographies." Chargebee's new integration with Mollie provides an advanced subscriptions solution for Mollie's customers and helps to solve EU-VAT tax and invoicing compliance automation for EU-based subscription businesses. The partnership will drive growth for Mollie's SME customers, allowing them to focus more of their resources on product development, shortening their time to market. It will also help SMEs to scale up with metrics available for how they run, invest in, and value their business as it grows. "Right now, what both consumers and merchants value most are speed and flexibility. By partnering with Mollie, we are excited to offer customers the ability to get started almost instantly and to grow and scale across borders and product lines," added Krish Subramanian, CEO of Chargebee. About Chargebee Chargebee is the subscription management platform that automates revenue operations of over 4,000 subscription-based businesses from startups to enterprises. The SaaS platform helps subscription businesses across verticals, including SeaS, eCommerce, e-learning, IoT, Publications, and more, manage and grow revenue by automating subscription, billing, invoicing, payments, and revenue recognition operations and provides key metrics, reports, and business insights. Founded in 2011, Chargebee counts businesses, like Okta, Freshworks, Calendly, and Study.com amongst its global customer base. Learn more about Chargebee at www.chargebee.com. About Mollie Mollie is a pioneer in the payments industry and one of Europe's fastest-growing payment service providers (PSP). Founded in 2004, the firm facilitates companies of all sizes to scale and grow with an easy-to-use payments API that offers multiple payment methods. Mollie's mission is to simplify complex financial services to become the world's most loved PSP.

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CORE BANKING

Major Israeli Bank Turns to Stanchion for Secure Payment Environments and HSM Migrations

Major Israeli Bank | June 13, 2022

Stanchion Payment Solutions has successfully completed HSM migration for one of Israel’s top three banks. The bank has migrated from ARX hardware security modules (HSMs) to Futurex HSMs. HSMs power the bank’s secure payments environments such as managing the cryptographic key exchange for the bank’s ATM and kiosk networks. In addition to the core HSM replacement, the bank invested in remote touch devices that allow for secure remote management of the hardware, reducing the number of visits needed to secure data centre locations in-person. ARX had a successful market share in Israel of HSMs and had announced that it was ending support and maintenance for its product line as it exits the HSM market. This latest success represents the third live deployment and riskless migration from ARX HSMs to Futurex trusted platform, in the Israel market. The bank went through a rigorous RFP procurement process and chose Stanchion’s expertise and the market-leading Futurex HSM to manage the next generation of data encryption for their operations. Key factors in the decision were the platform’s rich user interface, relevant client base, and confidence in Stanchion to deliver a seamless migration. Stanchion Payment Solutions Ltd, a global payments solution provider, delivers world-class skills, solutions and services to institutions. Stanchion led the bid and delivery process to augment and support the bank’s in-house team to help with the migration to the modern, advanced payment security platform based on Futurex encryption technology. Stanchion brings extensive experience in both the payments and HSM environment and used this experience to help the bank with its smooth migration. Stanchion’s partner, Futurex, is one of the world’s leading providers of cryptographic technology and solutions for payment processing, card and mobile issuance, and advanced fintech solutions. The company offers an advanced, best-of-breed portfolio of HSM solutions that comply with all PCI and FIPS security standards. In today’s mission-critical, 24x7x365 payments environment, strong hardware-based cryptographic infrastructure remains a critical need for Israeli banks. Even more so with rapid growth in mobile initiated payments, electronic wallets and future contactless payments and open banking alternative payments methods, With a local entity registered in Tel-Aviv we are well positioned to help banks and payment providers with the full management of their HSM and public key encryption infrastructure, with the experience of many Futurex deployments and customers around the world.” Norman Frankel, Regional Managing Director UK/Europe and Israel at Stanchion Payments. This successful third migration in Israel is part of our continued investment in this market. Futurex can help banks in Israel to replace legacy HSMs from ARX and other providers with new, innovative technology, or to virtualise payments infrastructure while retaining PCI and FIPS security compliance. Another strong feature of the Futurex product line, with its API and International Command sets, is the ability to also work in mixed-estate environments. We see this as a growing approach to risk mitigation.” Roland Allen, General Manager EMEA at Future. About Stanchion Payment Solutions Established in 2001, Stanchion Payments has offices in Australia, South Africa, the UK, Middle East and the USA. Our experience in complex payments environments and our ability to leverage our international client engagements enables us to offer a range of solutions, services and products to integrate, manage, optimise and secure your payments systems. Trusted by clients around the globe, we have a collaborative and flexible approach, focused on addressing our clients’ business opportunities and challenges. To facilitate services to clients in Israel, Stanchion Payments has a local office in Tel-Aviv. About Futurex For over 40 years, Futurex has been a trusted provider of hardened, enterprise-class data security solutions. More than 15,000 organizations worldwide, including financial services and corporate enterprises, have used Futurex’s innovative hardware security modules, key management servers, and enterprise-class security cloud solutions to address their mission-critical systems, data security, and cryptographic needs. This includes the secure encryption, storage, transmission, and certification of sensitive data. For more information, please visit futurex.com.

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PAYMENTS

Paystone Acquires Canadian Payment Services, Making Paystone Canada’s Largest Bank Independent Payments Provider

Paystone | January 27, 2022

Paystone announces the acquisition of Canadian Payment Services (CPS), one of the fastest growing providers of Canadian merchant services. This acquisition is the sixth addition to Paystone’s burgeoning portfolio of acquisitions, having acquired five other businesses in the past two years including Montreal-based DataCandy and Vancouver-based NiceJob. “This is the largest acquisition we’ve made to date in relation to both new revenue and clients,” explains Tarique Al-Ansari, CEO at Paystone. “Additionally, we’re also excited to provide additional value to CPS merchants through Paystone’s proprietary product and service offerings.” In addition to providing payment processing services, Paystone offers a wide range of SaaS products including gift and loyalty, reputation marketing, and marketing automation. Over the years, Paystone has shown their great commitment to serve Canadian small and medium sized businesses. We are happy to turn our customer base to Paystone so they can continue to receive the highest level of customer care as well as be able to grow their business via new value added products proprietary to Paystone.” Simon Lobanov, Managing Director at CPS. With the acquisition of CPS, Paystone now services over 35,000 locations across Canada and the United States which collectively process over 10 billion dollars a year in bankcard volume. As Paystone continues to aggressively grow in service, offering, and revenue, the business is looking to add over 100 new employees by the end of 2022. About Paystone Paystone is a leading North American payment and software company redefining the way merchants engage their customers and grow their businesses. The company's seamlessly integrated suite of automated payment processing, customer loyalty, gift card solutions, and now reputation marketing, is used by brands such as Irving Oil, The Source, Global Pet Foods, Kernels Popcorn, and many of the MTY Food Group's restaurant brands. Paystone's solutions are used at over 35,000 locations across Canada and the United States which collectively process over 10 billion dollars a year in bankcard volume. The fintech company employs over 150 employees and serves as the technology partner of choice for hundreds of partners across North America. About Canadian Payment Services Canadian Payment Services (CPS) is one of the fastest growing providers of Canadian merchant services, which includes Credit Card and Interac Processing, Gift Card and Loyalty Programs, and Business Cash Advance. With over 55 years of combined experience in the merchant services industry, CPS has served over 10,000 merchants.

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PAYMENTS

OwlPay Partners with Nium to Launch Global B2B Cross-Border Payment Service

OwlTing Group | May 11, 2022

OwlTing Group, a global blockchain services company, today announced a partnership with Nium, the global platform for modern money movement, to power OwlPay, OwlTing's new real-time cross-border payments service for e-commerce and travel platforms in Southeast Asia. OwlPay provides a one-stop financial services integration service for global B2B transactions. The new service covers automatic reconciliation, online currency swaps, and cross-border payment services, to streamline traditional payment processes and significantly enhance operational efficiency for enterprises. Using developer-friendly APIs, OwlPay connects to business' internal management systems and provides a one-stop service for the administration of orders and providers, financial reconciliation, online audit, and payment process automation. In addition, Nium's competitive exchange rate, extensive settlement network, and support of more than 100 currencies with online currency exchange adds a unique advantage for businesses to complete real-time international remittance on the web interface. We are optimistic about the benefits OwlPay brings to global enterprises, cross-border e-commerce platforms, as well as online travel agencies (OTAs) offering various products and services. OwlPay's partnership with Nium provides a new B2B payment experience. OwlPay not only allows enterprises to integrate cash flow and information flow, but helps them achieve operational excellence without the need to build an internal payment infrastructure that costs extra time and effort. It is estimated that OwlPay can save up to 50% labor cost for the financial team, Currently, the average cross-border remittance fee falls between 25 to 30 USD per transaction, while OwlPay charges lower than 10 USD with same-day settlement. Payees can receive full payments even for a small amount, which makes OwlPay a faster and cheaper payment solution tailored to the needs of global enterprises. In addition, OwlPay supports six currencies for deposit, and the funds can be directly exchanged to local currency for payouts. By depositing funds to designated accounts in Singapore or Hong Kong in advance, enterprises can leverage OwlPay's worldwide network and payout to global vendors in just a few clicks. Singapore- and Hong Kong-based enterprises can even enjoy further cost reduction through domestic deposits and experience OwlPay's powerful services instantly." Una Peng, Senior Manager of OwlPay. OwlTing will first target Southeast Asia, where the digital economy is fast growing. As pointed out in the Southeast Asia Digital Economy Trend Report released by Google, Temasek Holdings, and Bain & Company, the Internet penetration rate in Southeast Asia in 2021 was up to 75%. The Gross Merchandise Volume (GMV) of the internet economy was up to 174 billion USD, and it is expected to reach 363 billion USD in 2025. As a leading blockchain company, we're actively looking for global partners to make B2B payments faster and cheaper. We are very pleased to cooperate with Nium to grow from domestic financial services to multi-currency, cross-border payments services. OwlPay's services will expand from Asia to North and South America, and Europe. With OwlPay, we aim to help global enterprises enhance operational and capital arrangement efficiency with a new type of payment and send real-time remittances to other countries with ease. We plan to introduce stablecoins and various settlement networks to explore the infinite possibilities of financial innovation and digital payment development." Darren Wang, Founder and CEO of OwlTing Group. About OwlTing Blockchain Payment Service – OwlPay OwlPay provides a one-stop integration payment service for global enterprises. Through developer-friendly APIs, OwlPay integrates functions including reconciliation, mass transfers, auto payouts to innovate B2B cross-border transactions for real-time settlement and clearance. OwlPay charges lower than 10 USD per transaction with same-day settlement, which makes OwlPay a faster and cheaper payment solution tailored to the needs of global enterprises. OwlPay aims to create a new FinTech experience to help enterprises enhance operational efficiency and save labor cost. About OwlTing Group Founded in 2010, OwlTing Group covers B2B, B2B2C, and B2C services. As a Taiwan-based company, OwlTing has branch offices in the US, Japan, Thailand, Malaysia, Hong Kong, and Singapore, and seeks to expand globally. In 2018, OwlTing announced an eight-figure USD investment from Japanese financial giant SBI Group. In recent years, OwlTing has formed partnerships with government, industry, and academia globally and applied the blockchain technology to the medical industry, automotive industry, defense industry, food industry, forestry, agriculture, etc. OwlTing aims to build blockchain services for various industries.

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Spotlight

The blockchain in 2019 is included in the compulsory dictionary of every educated person. And it does not matter how old you are, what your education is and what your relationship is with “this is your internet”. This is because the blockchain technology underlies cryptocurrencies and is not only a prerequisite for their existence, but also many more new products of the future.

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