CORE BANKING, PAYMENTS
Sabre, Mastercard and Conferma Pay | November 29, 2022
Sabre Corporation (NASDAQ: SABR) a leading software and technology provider that powers the global travel industry, and Conferma Pay, a global fintech firm that specializes in payment technology, today announced a new partnership with Mastercard to accelerate the use of virtual cards for business-to-business (B2B) travel payments.
Today's announcement builds on Sabre's August 2022 acquisition of Conferma Pay. The collaboration with Mastercard is the next step in advancing Sabre's goal to create an open and independent travel payment ecosystem.
Digitization of travel payments with virtual cards helps address the historic challenges associated with B2B leisure and corporate travel payments. The securely generated, single use card numbers provide a link between booking and associated payments to third party suppliers. Travel buyers and suppliers are therefore able to easily track and reconcile payments, as well as benefit from flexible pricing, financing options, and enhanced security through card payment guarantees.
"The payments industry is in the midst of a revolution and there is an increased need for travel companies to better manage the whole payment experience, Companies in the travel space – including travel management companies, travel agencies, corporations, issuers and technology partners – need sophisticated solutions and seamless connections. Sabre is taking strategic steps to fulfill the needs of our industry, beginning with the acquisition of Conferma Pay. Now, the new partnership with Mastercard will help Conferma Pay to build new and enhanced digital capabilities in virtual cards, transforming the payment experience for issuers."
-Roshan Mendis, Executive Vice President and Chief Commercial Officer, Sabre Travel Solutions
As part of the agreement, Mastercard has agreed to make a minority investment in Conferma Pay, which will continue to operate independently and serve the entire travel industry and beyond. Mastercard's investment in Conferma Pay is subject to customary closing conditions.
A combination of experience, technologies and capabilities will accelerate travel payment innovation and drive inclusive and sustainable growth for the sector, Virtual cards deliver visibility, boost liquidity and increase control over B2B payment flows, which enhance payment strategies and empower organizations across the travel value chain to run, grow and protect their business, which has never been more essential,said Chris Fendley, Executive Vice President, Enterprise Partnerships at Mastercard.
Conferma Pay connects issuers to more than 700 travel management companies, all the major global distribution systems and more than 100 online booking tools. Conferma Pay is fully integrated with all the major card schemes and serves more than 50 banking partners, who issue Conferma Pay generated virtual cards in nearly 100 currencies.
We've already made significant inroads in the B2B travel space through partnering with Sabre, We are excited about the new investments. This, combined with our existing strong relationships, will enable Conferma Pay to build on our global footprint and be at the forefront of addressing industry challenges and opportunities,said Martin Cowley, interim CEO at Conferma Pay.
Sabre's Virtual Payments will continue to offer Conferma Pay services – with increased capabilities that help travel buyers, agencies and corporations best support travel customer needs. Sabre Virtual Payments is a unique, secure, automated and integrated end-to-end payment solution designed to simplify and add value to the transactions that TMCs, OTAs, travel agencies, corporations and travel suppliers do every day. Sabre Virtual Payments takes all the capabilities of Conferma Pay and its network of issuers and combines it with seamless integration across Sabre products for -connected travel buyers, agencies and corporations.
About Sabre Corporation
Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfilment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveler experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre's technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world.
About Mastercard (NYSE: MA)
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.
About Conferma Pay
Conferma Pay is a global financial technology company. It designs and integrate virtual payment systems that provide a more efficient, seamless and secure way to pay for businesses. Conferma Pay was born in Manchester in 2005. Since then, it has connected over 700 TMCs, and directly integrates with all the major GDSs and OBTs. Its roots lie in corporate travel payment integration. It enables its payment providers to flow virtual cards into the preferred purchasing process of any business travel buyer. Crucial to this is its network of banking partners, who have issued virtual cards in over 200 countries, in 40 currencies with over 45 commercial banking partners via all major card networks. Its ecosystem continues to expand to meet the growing requirements of its global customer base.
FalconX | November 04, 2022
FalconX is honored to announce FalconX 360 has been recognized as the Most Innovative FinTech Solution by the 2022 Tech Ascension Awards.
The Tech Ascension Awards recognized the very best innovations in technology. The Tech Ascension awards judged applicants based on technology innovation, market research, and competitive differentiators. The class-leading vendors that received recognition from the Tech Ascension Awards showcased technology that solves critical industry challenges and produces invaluable business outcomes for their customers.
"FinTech innovation has become more critical than ever, and these leaders are pushing the market to new heights, We're very excited to be able to recognize these leaders and look forward to following their growth and trajectory as the FinTech industry continues to evolve."
-David Campbell, CEO, Tech Ascension Awards
FalconX 360 is the first and only unified investment and risk management platform for crypto that provides institutional investors full-spectrum execution capabilities and end-to-end reporting across their digital asset portfolio (availability of products and services is subject to jurisdictional limitations and capabilities of each FalconX entity). The platform increases access to risk management, prime services and security controls for institutions, all in one place. This is a transformational innovation in the crypto and financial space, delivering on FalconX's mission to enable the next billion users to access digital assets.
In the same way that crypto is democratizing access to finance, the FalconX 360 platform is democratizing access to the digital asset ecosystem, allowing clients to be significantly more active and agile in their investments. Instead of splitting $1M across multiple platforms, investors can now bring that $1M to FalconX and access diversified investments through a single account, scaling up returns by 3-5X, streamlining account management, saving time and maximizing ROI.
We're proud that FalconX 360 is receiving this award recognition because investors have been eager for a solution that mitigates risk, With this new platform, we are delivering confidence and security for digital asset investing, which is the future of finance,said Raghu Yarlagadda, Founder and CEO of FalconX.
FalconX is a fully comprehensive digital asset platform that allows institutions to access and manage all of their crypto strategies through a single interface and seamless workflows, making it easy to execute trading, prime services and clearing all in one place. FalconX's crypto-as-a-service offering powers leading banks, FinTech institutions and investment applications to easily add crypto to their product offerings with a goal of enabling the next billion users to enter the crypto space. The company is backed by investors including Accel, Adams Street Partners, Altimeter Capital, American Express Ventures, B Capital, GIC, Lightspeed Venture Partners, Sapphire Ventures, Thoma Bravo, Tiger Global Management and Wellington Management. FalconX has offices in Silicon Valley, New York, Chicago, Bengaluru and Malta.
About the Tech Ascension Awards
The Tech Ascension Awards elevate companies that possess cutting-edge, innovative technology that solve critical challenges in their respective markets. Tech Ascension winners rise above the crowded consumer and enterprise technology industries and receive validation from an independent organization. Applicants are judged based on technology innovation and uniqueness, market research (analyst reports, media coverage, customer case studies), hard performance stats, and competitive differentiators. The awards recognize leaders in cybersecurity, DevOps, big data and more.
Novae LLC | November 08, 2022
Black-owned fintech and finance company Novae LLC has announced the launch of a new online tool designed to help small businesses to find grants and tax incentives that can help them to grow exponentially.
Called Novae Grants, the new tool will allow users to search a database of thousands of financial assistance opportunities from both the government and the private sector. Tax credits which small businesses may qualify for will also be included in the database.
Novae founder Reco McCambry says that the grants his team is gathering for inclusion in the database range from $500 to $5 million in size, and are designed to help business owners serve their communities. The grants include town- and city-based grants to revitalize local businesses and create jobs, and federal and think tank grants to support renewable energy, tech, and innovation.
"The idea is to make it as easy as possible for small businesses to locate the support they need to grow, Whether you're a mom and pop shop or a good-sized startup, you may be doing something that one of these agencies wants to promote for the sake of the public good."
McCambry notes that most of the grants which have so far been located and placed in the Novae Grants database are intended for small businesses with 6-100 employees, though some are also intended for larger businesses and sole proprietor startups.
We know that local businesses make us more secure, and we know that innovation often comes from startups. There are a lot of organizations that recognize this and offer funding to support these missions. But not many people know how to find these grants, and many assume they won't qualify because they aren't in some specialized public service role. Our mission is to change that and bring this money into our communities,McCambry told me in our interview.
The Novae Grants search engine is now available at novaemoney.com. In addition to grants, Novae also helps companies build business credit, provides access to traditional business funding, and offers businesses the ability to provide consumer financing for their high-ticket offerings.
Novae and CEO McCambry's mission to increase access to financing for businesses and customers in underserved communities has helped the company and its CEO to earn numerous awards and distinctions in recent years. Novae has been included on the Inc 5000 list of the 5000 fastest-growing businesses in America for two years running, while McCambry was recently named Innovator of the Year at the annual Bank Customer Experience Summit and received an Outstanding Leadership Award at Money2.0 this Spring.
McCambry hopes that the new grant search database, combined with Novae's other offerings to assist businesses and consumers with financing for large purchases, will help to create prosperity for communities that have often been shut out of traditional banking and grant services.
Brankas | November 24, 2022
Open Finance technology leader Brankas has developed "Brankas Open", a first-of-its-kind open source license for the next generation of Banking-as-a-Service and Open Finance software.
The "Brankas Open" license is meant to encourage digital banking and fintech innovation and lower the cost barriers for startups, neobanks, and even traditional institutions to quickly prototype and launch new solutions, while retaining their own source code. Customers will benefit from more choice and better user experience, as companies have open access to use, modify, redistribute, and collaborate on the publicly available Brankas Open code.
The inspiration for Brankas Open came when Brankas received a grant from the Monetary Authority of Singapore in November 2021 to develop Brankas APIX Open Core, a proof of concept open source core banking system.
Recognizing the need for a modernized Open Source framework to address new Open Finance technology, Brankas looked to existing open-source licensing frameworks in order to develop Brankas Open. Brankas felt that this framework was necessary to protect community contributions, ensure open access, and comply with financial institutions' data protection and security requirements.
"Brankas' Open license allows our team to build and contribute in a way that is fair, equitable, and open to independent developers, FIs, and to our partners. With this license, Brankas is able to continue to invest in the greater open source community, and to share our code freely with the world,"
- Brankas co-founder and CTO, Kenneth Shaw
Brankas has been advised by Ren Jun Lim, Alex Toh and Darren Leong from Baker McKenzie's Singapore-based Intellectual Property and Technology (IPTech) practice group.
Brankas is the leading Open Finance technology provider in Southeast Asia. We provide API-based solutions, data and payments solutions for financial service providers (like banks, lenders and e-wallets) and online businesses. Brankas partners with banks to build and manage their Open Finance infrastructure, producing APIs for real-time payments, identity and data, new account opening, remittances, and more. With Brankas' secure Open Banking technology, online businesses, fintech companies and digital banks can use Brankas APIs to create new digital experiences for their users.
About Baker McKenzie
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