The FinTech Five – 6th August 2021

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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. Sero and Edenstone Enter JV to Deliver Zero Carbon Homes

First this week, The Edenstone Homes Group has teamed up with energy service and tech company Sero, to pave the way for the delivery of 6,000 zero carbon homes across Wales and the South West of England by 2030.

The two companies have come together to form an ambitious Joint Venture, that over coming months will establish a blueprint for the delivery of zero carbon smart homes, underpinning Edenstone’s ambition to be a net zero carbon business by 2025.

Sero has developed a number of digital products to drive forward the domestic decarbonisation agenda and has a track record of delivering industry leading initiatives. This includes the retrofit of existing homes as well as the delivery of new low carbon homes, such as 225 low carbon homes at Parc Eirin in Tonyrefail (with partners Pobl, Tirion Homes and Morganstone).

James Williams, CEO of Sero said:

“We already have the technology and knowledge needed to deliver zero carbon homes, so now we need to demonstrate delivery and viability at scale – as ultimately this is where we need to get to sooner rather than later to meet net zero targets.

“Through this JV we have an opportunity to show how much customers love living in low carbon homes because of the lifestyle benefits it offers around comfort and convenience, increased well-being, and lower energy bills.  We need to demonstrate that zero carbon homes are what customers want, and help the industry and market adapt to achieve a position where net zero is the industry standard.”

Martin Taylor, Edenstone managing director said:

“The climate emergency requires urgent action, and we all need to look at how we can play our part within our everyday lives. 40% of UK emissions come from households[1], meaning our homes have a huge role to play if the UK is to meet its target for reducing carbon emission. That is why as a company, Edenstone is committed to ensuring we can begin delivering zero carbon smart homes as quickly as possible. We see this JV with Sero as the way to ensure we can fast track our journey to making this happen.”

You can read the full article detailing the initiative by Business News Wales, here. 

2. Currencycloud Partners With FXPRO® for New Financial Enterprise: BNKPRO

Next, Currencycloud, a leading provider of B2B embedded cross-border solutions  has partnered with FxPro, the truly global broker, as part of a new offer of flexible and convenient e-money solutions in the form of its new business – BnkPro.

BnkPro will offer to the mass affluent segment of the market the ability to access private banking-like services through a simple and intuitive app. This app will enable customers to create a multi-currency digital wallet and request a Mastercard debit card. BnkPro customers can make payments using domestic and international facilities, transfer money between their multi-currency accounts, trade and invest in securities and more.

The integration of Currencycloud into FxPro’s offering expands its geographic reach as well as providing access to a number of new local, and international payment rails and schemes that will make it easier and quicker for customers to send, receive and hold funds in multiple currencies

Charalambos Psimolophitis, CEO of FxPro Group, commented: 

“FxPro Group and our brands have always strived for constant technological innovation, and this integration is another step towards us offering the complete financial services package, facilitating global transfers and multi-currency accounts alongside robust digital investment services. There is no doubt that the partnership with Currencycloud will enable us to reach our goals, provide a top-quality professional product and firmly establish BnkPro Ltd as a leader in this market.”

Nick Cheetham, Chief Revenue Officer at Currencycloud commented: 

“FxPro is a globally renowned broker and we are excited to work with them on this new endeavor which will maximize our Currencycloud Spark solution and allow their customers to pay, receive and hold multiple currencies simultaneously, exchanging currencies when it suits them. Alongside their trading platform, this partnership will be a real value for their customers.”

Read the full announcement on Currencycloud’s website, here. 

3. ‘Contract recruitment: everything you need to know’ – a free guide from Sonovate 

What makes a world-class contract recruitment business in 2021? Sonovate’s new guide, ‘Contract recruitment: everything you need to know’, shows you what you need to do to build a stellar contract recruitment operation. 

Contractors are hot property, with the average value of temporary placements increasing by 20% since 2017 to almost £35k.

This updated edition of Sonovate’s hugely popular ebook is packed with practical insights on everything from candidate attraction to compliance rules.

Click here to download your free copy now. 

4. Deloitte’s UK Technology Fast 50 opens for Welsh businesses

Next, companies from across Wales that use proprietary technology in their business are being urged to enter Deloitte’s UK Technology Fast 50 Awards as entries open for 2021. 

The Fast 50 is one of the UK’s foremost technology awards programmes. Now in its 24th year, the awards rank and recognise the 50 fastest growing technology companies in the UK, based on the last four years of revenue data. 

Previous winners, including 20 from across Wales, are from both large and small companies and include some of the most dynamic players in all areas of technology sectors, including AdTech, BioTech, CleanTech, EdTech, FinTech, HealthTech, InsureTech, Communications and many more.  

“Wales has a thriving tech sector. The Fast 50 is an excellent opportunity for digital and tech businesses, as well as start-ups, to demonstrate their success,” says Shaun Curtis, a tax partner who leads the Deloitte Private practice in Wales. 

“The past 15 months has been challenging for many businesses, but we have seen the technology sector in Wales go from strength-to-strength. The awards seek to recognise companies which use proprietary technology in their business and it is a chance to celebrate the exponential growth we are seeing in this area. 

“It is a time to promote the innovation and entrepreneurship we have in the region and I am really looking forward to see who will join the Fast 50.” 

Nominations close at midnight on Friday 03 September 2021 and winners will be announced in November. 

Full details on how to apply can be found at:  

5. W2 and Cybertonica to Intensify their Partnership, Bolstering Combined Regtech and Fraud Offerings

Last but not least this week, W2, leading provider of regulatory compliance technology, have announced they are intensifying their partnership with global Fraud Prevention experts Cybertonica, dramatically improving both businesses’ offerings to a large portfolio of clients requiring a hub for all fraud, risk and compliance checks.

Partners since 2017, both businesses look to use the power of collaboration in the regtech industry and beyond. The partners intend to collaborate on combined products where W2 and Cybertonica can merge their expertise to improve the strength of their range of services in an online retail and fintech marketplace reeling from 25% rise in digital fraud since 2020 and in which regulatory and compliance are impacting business success and consumer security ever more directly.

Warren Russell, CEO & Founder at W2 commented 

“We have been working with Cybertonica for a number of years now and have seen them grow exponentially alongside W2. Building on this foundation through a renewed agreement is a really positive step forward for both companies as we can utilise the power of both Cybertonica and W2’s technology to give our customers an even better experience.”

Joshua Bower-Saul, CEO & Co-Founder of Cybertonica added 

“We have a great story together with W2 and share the commitment with Warren and his excellent team to bringing the best technologies to a dynamic market. Our aim is to stem the tide of fraud and risk and put automation and automated rules intelligence from Cybertonica alongside W2’s expertise in compliance, directly multiplying the value and benefits to all our shared and new customers and prospects from this point forward.”

You can read the full announcement on W2’s website here. To find out more on how W2 and Cybertonica can assist your business with compliant growth, contact them here.

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.

If you want to join our dynamic FinTech Wales community, then click here to learn more about the exclusive benefits FinTech Wales membership has to offer.