The FinTech Five – 1st July 2022
Welcome to the FinTech Five, the part of the week where we take a closer look at the best articles, news, and features from over the past week from our FinTech Wales members.
1. FinTech Wales members in the Startup Awards Wales 2022.
The StartUp Awards National Series recognises the achievements of those amazing individuals who have had a great idea, spotted the opportunity and taken the risks to launch a new product or service.
Last night (31st June 2022) saw several FinTech Wales members receive awards in their respective categories at the Startup Awards Wales 2022, and we couldn’t be prouder!
FinTech Start-Up of the Year – Ship Shape
Mobile and Emerging Technologies Start-Up of the Year – Identitech
North Wales Start-Up of the Year – Cufflink.io
Rising Star of the Year – Sian Dodd, Tree Law
Finalist within the FinTech Start-Up of the Year category – Stock-Up Ltd
The Fintech Wales team would like to wish a huge congratulations to everyone who received recognition last night. It’s fantastic to see the hard work and innovative ideas of Welsh startups being celebrated.
2. W2 CEO & Founder Warren Russell discusses W2’s new affordability solution with iGamingFuture.
Next this week, W2 CEO & Founder Warren Russell sat down with iGaming Future in a recent interview to discuss W2’s new affordability for Gambling solution and what it means for operators and the wider iGaming industry.
Read some of the interview snippets below.
Q: Can you tell us a little bit more about your just-launched Affordability for Gambling Tool?
A: “W2’s new affordability allows operators to combine data assets from multiple sources at individual, demographic, and geographic level to ensure their player protection and safer gambling initiatives can actually be implemented as opposed to just talked about.
The solution is built to provide a clear picture of players without disrupting the customer journey and will enable operators to access more insight into the affordability of players at an individual level…”
Q: What sets it aside from other affordability tools in the market?
A: “The uniqueness of the solution stems from the fact that it gives crystal clear indication of affordability on an individual level. Whilst there are currently solutions out in the market which focus predominantly on geographical data or open banking which granted, is helpful in painting a picture of affordability, this solution gathers 50+ data indicators on various markers of harm triggers to ensure that operators can make informed decisions about specific players, and not on general information.”
Q: Why is affordability such a hot topic right now?
“The reason that affordability has become a buzzword in the industry is ultimately because of its direct correlation to safer gambling. In the past few years, more news come to light regarding operators failing to protect their players and there is more pressure on the industry than ever before to ensure that they are actively trying to prevent problem gamblers.”
Q: What changes do you think are coming from the government’s review of the Gambling Act?
“Changing regulation along with political, media and public concern means that harm minimisation and player protection is the key issue in the sector.
The gambling act in the UK has been under review since 2020 with the publishing of the findings pushed back several times already. It is widely expected that the regulator will increase its oversight and enforcement.”
3. Sonovate Recognised for their contribution to Fintech and to Recruitment
Next, a recent blog Sonovate takes a look at the industry awards they’ve been nominated for, which are an excellent demonstration of how far they’ve come, how they engage with their ecosystem and the significant contribution they’re making to the market.
Sonovate have been shortlisted for several awards, some of them being:
- Fintech Company of the Year in the Fintech Awards Wales,
- Talent Tech Scale Up Award in the prestigious 2022 TIARA Talent Tech Star Awards
- Recruitment Technology Innovation Of The Year in the Recruiter Awards or APSCo UK Trusted Partner of the Year.
- Sonovate’s co-founder and CEO, Damon Chapple has been selected as a finalist for the FinTech Leader of the Year category
- Sonovate’s Finance team, who have put in place programmes that have helped them to deliver over £2.75bn in invoice funding to thousands of businesses were finalists in the Finance Team of the year award in the Finance Awards Wales.
Sonovate is on a mission to be the funding platform for the future of work. They do this by creating a support structure that gives businesses and individuals the security and flexibility they need to thrive. ‘Get paid easily, however you choose to work’ is Sonovate’s mission for all businesses and individuals across the contingent labour market.
As flexible workers become more important in the world economy, Sonovate is here to give them, their agencies and consultancies, the structure they need to ensure success: a fast, agile ecosystem that helps them get paid easily, so they can focus on doing a great job.
4. Navigating the new threats to cybersecurity with Coincover’s Chris Pace
5. Delio’s team achievements recognised at the BVCA’s Vision 2022 awards
The awards, which are run by the British Venture Capital Association (BVCA) and supported by consulting giants Grant Thornton, highlights exceptional performance across a number of metrics including commercial growth, competitiveness and innovation.
Gareth Lewis, chief executive and co-founder of Delio, received the award at the Vision 2022 National Dinner held in Bristol on 30th June. Judges noted that Delio had been selected for recognition as it operates a “very unique business model”, “is strong on innovation and growth” and their “ambition to drive start-up tech culture in Cardiff” was highly commendable.
Since its formation in 2015, Delio has grown from an embryonic idea to one of the UK’s fastest growing fintechs. Its private markets technology is now used by more than 90 financial institutions in 18 countries and enables firms to connect their clients with alternative investment opportunities quickly, efficiently and compliantly. Delio’s clients include some of the world’s most respected companies such as Barclays, UBS and Sumitomo Mitsui Trust Bank.
Upon receiving the trophy, Gareth Lewis said:
“While it is always pleasing to win awards, this recognition stands out as it reflects the hard work that goes on behind the scenes by each and every member of the Delio team.
“As our business has grown over the last few years, we’ve worked exceptionally hard to ensure that we recruit people who believe in what we’re doing and share our passion for serving our clients, but undertake their roles with the right attitude and approach. As a result, we’re proud to have maintained our ‘start-up culture’ while growing into a truly international organisation. This award is for every member of our team and what we’ve achieved so far, but also the way in which we’ve achieved it.”
Until Next Week
And that’s it for the FinTech Five this week. Thank you for reading, and don’t forget to join us next week for more of the best content from across our FinTech Wales membership.