Santander acquires controlling interest in trade finance software house Mercury TFS

Santander | March 13, 2020

Banco Santander is to acquire a majority 50.1% stake in Spanish trade finance software house Mercury TFS through a €30 million investment. Santander has used Mercury TFS’s services in Spain, Mexico, Chile and Germany for years, helping customers to manage their entire trade finance activity online or via mobile phone. The bank's businesses in the UK and Portugal will begin using it at year-end through Global Trade Services (GTS), Santander's global trade platform. The head of Santander's global payments services, Javier San Félix, comments: “The investment accelerates our plans to build a service platform for SMEs and international companies to better serve our customers worldwide. We are also helping to globalise Mercury TFS, a software company with huge potential and a team with enormous talent, by reinforcing their technical and commercial teams and complementing their already broad product range.”

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FINANCIAL MANAGEMENT

NetReveal® Acquisition by SymphonyAI Launches a New Leader in Financial Crime Prevention Solutions Market

SymphonyAI | October 31, 2022

SymphonyAI, a leader in high-value enterprise AI SaaS for strategic industries, announced today the close of its acquisition of financial crime detection leader NetReveal from BAE Systems. The deal was first announced in July 2021. NetReveal, which is now SymphonyAI NetReveal, brings SymphonyAI its extensive experience and portfolio to fight financial crime across a large customer base. NetReveal is being added to SymphonyAI's finance vertical, joining SymphonyAI Sensa to accelerate innovation for transformative, next-generation AI-based capabilities for financial crime detection. Already, the NetReveal and SymphonyAI Sensa teams have taken a step to reinvent anti-financial crime management with the launch of the NetReveal-Sensa Suite, announced Oct 11. The new solution is a 'no compromise' transaction and behavior monitoring offering that uniquely combines AI detection with intelligent alert management. "We're pleased to officially count NetReveal's world-class platform as part of our portfolio of solutions, deepening our ability to deliver effective crime fighting capabilities to the financial sector and to ease the burden on risk departments, NetReveal's industry-leading anti-money laundering and payment fraud detection capabilities will be further enhanced with AI capabilities and analytics that better uncover anomalous activity, significantly reduce false positives, and more effectively help customers control costs. We're excited to welcome the NetReveal team to SymphonyAI." -SymphonyAI CEO Sanjay Dhawan Financial institutions are facing a rapidly changing environment for financial crime and risk monitoring, and a dynamic regulatory one, As a leader in this space, it's been consistently important that NetReveal grows to meet, and exceed, these changing demands for our customers. Joining SymphonyAI materially accelerates that growth and innovation. We're very pleased to be a part of SymphonyAI,said Mike Foster, president and CEO of SymphonyAI NetReveal. SymphonyAI NetReveal brings over 20 years of industry expertise and 200 of the world's leading financial institutions, including top 100 global banks, as customers. The company has been widely recognized by expert industry analysts for its risk technology and enterprise fraud detection solutions, including its recent listing by Chartis as a 2022 Category Leader in the RiskTech Quadrants® for Sanctions Screening and Transaction Monitoring Solutions. About SymphonyAI NetReveal SymphonyAI NetReveal, part of the SymphonyAI finance vertical, provides financial crime, risk management, and fraud detection and prevention across banking, financial markets, and insurance via a single platform. The platform is adaptable to the evolving and heterogeneous nature of the financial services sector; to deliver power and flexibility in analytics, investigation, integration, security, and total cost of ownership reduction. About SymphonyAI SymphonyAI is building the leading enterprise AI SaaS company for digital transformation across the most critical and resilient growth industries, including retail, consumer packaged goods, finance, manufacturing, media, IT/enterprise service management, and the public sector. SymphonyAI has many leading enterprise customers in each of these industries. Since its founding in 2017, SymphonyAI has grown rapidly, approaching 2,000 talented leaders, data scientists, and other professionals. SymphonyAI is a SAIGroup company, backed by a $1 billion commitment from successful entrepreneur and philanthropist Dr. Romesh Wadhwani.

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FINANCIAL MANAGEMENT

Card Curator and Invstr Announce New, Exciting Partnership

Card Curator and Invstr Ltd. | September 09, 2022

Card Curator, an app that informs rewards credit cardholders on how to earn the most out of their purchases without spending more, and top-rated U.S. investment and financial education app Invstr, have partnered together to help Invstr users make sharper decisions on their daily card spending with Card Curator’s award-winning credit card recommendation tool. Invstr users will no longer have to play the painful guessing game of which credit cards to use on purchases, as the tool will recommend the “best” card in their wallet that yields the greatest rewards on gas, groceries, dining, and more. It can be found in the Hub of the Invstr app. All in all, Card Curator’s credit card recommendation tool will provide Invstr users with the clarity and guidance they need when choosing their credit cards for any given purchase. It does this through independent and objective advice, as Card Curator does not receive compensation from banks or credit card issuers for its card recommendations. “Invstr is one of the leading pioneers in financial literacy and has educated globally over 1 million members of its community on how to become savvier investors through the support of their highly acclaimed features, Now with this partnership, Invstr users will become sharper with their daily card spending and won’t be missing out on maximum reward earning opportunities. The number one reason why cardholders miss out on rewards is that they simply use the wrong credit cards on their purchases, and our tool corrects that.” -John Taylor Garner, Founder and CEO of Card Curator Invstr is delighted to be working with Card Curator to help consumers determine the best credit card to use. Our mission is to empower everyone to take charge of their financial future. We aim to help our customers at every stage of their financial journey from learning how to invest, to managing their banking, brokerage, crypto, insurance, and now credit cards in a single easy experience, said Invstr Founder and CEO Kerim Derhalli. About Card Curator Card Curator (CC) is the first and only true rewards optimization platform that demystifies and simplifies the credit card rewards game, helping users earn an average of $4,000 per year. CC was designed by algorithm and rewards experts to maximize earnings and offer individually tailored recommendations based on each user’s objectives--not influenced by card issuers or third parties. CC is the fastest, most efficient way for cardholders to optimize their spending and maximize the value of their award redemptions, typically generating five times the returns of standard card rewards programs. With guaranteed security and customization, Card Curator levels the rewards playing field between the complexities created by financial institutions and the cardholders who want to maximize the value of their spending but don’t have the time or inclination to decipher the fine print. Based in Lakeville, CT, Card Curator is privately held. About Invstr Ltd Invstr is a technology company with a presence in New York, London and Istanbul. Through its award-winning smartphone app, Invstr is determined to democratize finance. Founded by Kerim Derhalli in 2013, the app combines fun, learning, and competition to break down barriers and help users become better, more confident investors. Derhalli was named the 2019 Tech Entrepreneur of the Year at the Go:Tech Business Awards in 2019 and Invstr the Fintech App of the Year at the 2019 UK App Awards. Invstr also won the Fintech Innovator of the Year at the UK Business Tech Awards 2018 and Fintech Founder of the Year at the BMW i UK Tech Founder Awards 2018.

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FINANCIAL MANAGEMENT, FINTECH

Intrinio, a Leading Provider of Fintech Analytics, Has Now Added ETF Data to Its Platform

Intrinio | September 16, 2022

Intrinio is proud to announce their partnership with CFRA, a leading provider of independent research and analysis. Intrinio is pleased to undergo a new partnership with CFRA, an independent research firm that provides financial analysis and data for the global investment community. The partnership will allow Intrinio users to access CFRA’s rigorous standardization methodology, which has been used to provide industry-leading ETF expertise since 2002. The new condensed version of their ETF endpoints will afford startups and individuals the opportunity to provide their users with increased insights and awareness of thousands of ETFs. A deep understanding of ETF structures and underlying methodologies ensures the robustness and integrity of the hundreds of ETF data points that power all of Intrinio’s ETF endpoints. Intrinio is a top data provider that specializes in high-quality information and customer service. The company provides modern tools for financial technology platforms (companies whose business relies on the use of electronic transactions) as well as businesses who need real-time access to market data. One of Their most popular offerings is the extensive ETF data package the company provides. To ensure that all of their users have access to the critical ETF data points they need Intrinio is also releasing a condensed version of their ETF endpoints. This version will afford startups and individuals the opportunity to provide their users with increased insights and awareness of thousands of ETFs. About the Company: Intrinio is a full-service financial data provider with a focus on serving the B2B market from startups to enterprise-level customers. Intrinio offers introductory price points and data subscription packages that scale, making it still affordable and accessible for developers and quants. If a customer visits the website, they can sign up, chat with the team, and get an account, API keys, and trial data within minutes. Intrinio offers trials, monthly and annual pricing, full customer support, and co-marketing.

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FUNDING, WEALTH MANAGEMENT

Leading Debt Payoff Platform Tally Announces $80 Million Series D

Tally | October 04, 2022

Tally, the financial automation company that pioneered a new approach to addressing the nation’s $900 billion credit card debt crisis, announced today that it has raised $80 million in Series D funding, led by Sway Ventures with participation from Menora Mivtachim. Previous investors Kleiner Perkins, Andreessen Horowitz, Shasta Ventures and Cowboy Ventures also took part in this round. Tally will use the funding to continue to grow the business and further expand its automated debt pay-down system to help members get out of credit card debt, reducing the time and stress it takes people to reach their financial goals. Tally also announced that Ken Denman, a veteran customer-centric technology leader, has joined Tally’s Board of Directors. “Tally is a true industry innovator for its distinctive use of technology to help more consumers get out of debt, and we look forward to partnering with the Tally team to help expand their product offerings and reach, particularly during a time when credit card balances are nearing all-time highs,” -Denman, General Partner at Sway Ventures Denman was previously co-founder and CEO of Emotient, Inc., a software technology developer that was acquired by Apple, and has served on the boards of prominent companies including Costco Wholesale Corporation, Motorola Solutions, VMware and Lending Club Inc., among others. More than 30 percent of Americans have interest-bearing credit card debt, and rates are rising as the Fed works to stanch inflation. In the second quarter of 2022, credit card balances rose by nearly $50 billion which represents the largest cumulative increase in more than 20 years, according to the NY Fed. Tally offers automated credit card debt payment services, analyzing customer financial profiles to determine the best and fastest way to pay down debt and then offering eligible consumers a new line of credit at a lower interest rate to support faster repayment. To date, Tally has paid more than $1 billion in credit card debt for its members, saving them millions of dollars in interest and late fees. Today’s announcement comes as the company reports record growth and experienced several milestones: Nearly tripled its Annualized Recurring Revenue (ARR) in the past year Saved Tally members $1.2 million in late fees in 2021 alone Offered a line of credit with an APR that is on average 30% lower than members’ credit card APR Enabled the average Tally member to get out of debt up to three years faster Expanded its executive ranks, including the promotion of Genessa Stout as COO, Jason Huynh as CRO, David Deitchman as VP of Ethics and Compliance and the addition of Vinh Nguyen as VP of Credit and Mark Kearns as VP of Capital Markets and Business Development Credit cards are designed to trap people in a cycle of debt. Our debt-free system helps consumers pay off credit cards faster, empowering them to take control of their finances and make real progress towards their financial goals, We are thrilled to bring Ken and his leadership and deep expertise on board and to continue changing the face of debt management for consumers across the country,said Jason Brown, Tally CEO and co-founder. Before Tally I only paid the minimum that I could. Now Tally has made it to where the balances are either nothing or minimal in comparison, so I have a better handle on what additional payments can do for my finances. And the ease of making additional payments has been great as well, said Tally user Dani J., of Lexington, SC. About Tally Tally is a consumer tech company on a mission to make people less stressed and better off financially through automation. Founded in 2015, the company built the first automated debt manager to help people pay down credit card debt and put billions of dollars back in their pockets. Recently, Tally was named to Fast Company's 2021 Most Innovative Companies list and Forbes’ 2020 Next Billion-Dollar Startup list. Its automated debt manager was awarded Real Simple's 2020 Smart Money Award as the best app for paying down debt.

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Since 1991, Infopulse enables digital transformation of world’s largest Banks, Insurance companies, Exchanges, as well as other FinServ organizations and FinTech startups. A strategic partner for all your IT needs, Infopulse brings the efficiency of banks and FinServ enterprises to the next level. Embrace the potential of intelligent technologies through our Core Banking Services, solutions for Mobile and Digital Banking, Cybersecurity and IT Operations systems.

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