The FinTech Five – June 18th 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 across our FinTech Wales members.

1. Trust Payments partners with Zip for Buy Now, Pay Later

Kicking off this week’s FinTech Five, Trust Payments have announced their partnership with Zip, the first Buy Now, Pay Later provider to join its network of payment partners. 

This partnership means that UK merchants using Trust Payments’ platform can utilise Zip at check out, enabling customers to pay over four interest-free installments.

Daniel Holden, CEO at Trust Payments, commented: 

“We’re excited to partner with Zip, a global payments pioneer, to offer UK consumers flexible payment options. Zip will help drive growth, particularly among small and medium-sized businesses who will benefit from this new payment option –letting their customers spread the cost of a purchase over six weeks, entirely interest-free.”

Meanwhile Belinda Mackey, Senior Partnerships Manager at Zip, explains:

 “Zip is fast rising in popularity among UK shoppers, as we work with an increasing number of household name retailers and a fantastic array of SMEs and startups. Our partnership with Trust Payments is important because it will help us to support more retailers, faster – so they can bring the benefits of this way of paying to their customers. We will be one of the first to offer Buy Now, Pay Later both online and instore in the UK providing the choice and flexibility we know customers want.”

Click here for the full article or discover more information on Trust Payments’ B2B payment platform here

2. Yoello’s Founder and CEO Sina Yamani announced as a winner of the SME leaders 20 

Next, this week saw award-winning online ordering solution Yoello’s Founder and CEO, Sina Yamani, named as a winner of the SME Leaders 20. 

SME Leaders 20 is an elite leaderboard of excellence run in association with Azets, the UK’s largest regional SME accounting and business advisory firm.

The SME Leaders 20 was created to identify and celebrate the achievements of individual and business leadership teams before, during and as we come out of these difficult times. 

Amber Ward, Director of Growing Business Intelligence, said:

“Many congratulations to everyone who made it into our SME Leaders 20. The judging panel were hugely impressed with all the entries, which showed clear evidence of strength, innovation, flexibility and resilience across a wide range of sectors and markets.”

Read up on the full list of winners here 

3. Currencycloud & DynaPay partnership delivers freedom for business customers

This Wednesday Currencycloud, the experts simplifying business in a multi-currency world, announced a partnership with DynaPay, part of the Dyninno Group that delivers intelligent and flexible fintech solutions for businesses, to provide its Currencycloud Spark solution as DynaPay expands its operations. 

Prior to the partnership with Currencycloud, DynaPay was limited to offering its customers GBP and EUR accounts. With the addition of Currencycloud Spark, customers will now benefit from a multitude of new currencies, as well as transparent and real-time wholesale FX rates. This enables DynaPay to enter new market sectors, including serving multi-jurisdictional SMEs with global ties, which will now benefit from the same level of service banks are providing to multinational corporations.

Todd Latham, Chief Growth Officer at Currencycloud, commented: 

“A combination of issues around Brexit, a fast-growing customer base and speed to market were all considerations for DynaPay and we were able to deliver on all of these for them. We’re looking forward to growing with them further in the future.”

Konstantin Zaripov, Managing Director at DynaPay, commented: 

“We offer a tailor-made product for our clients’ businesses and with the addition of Currencycloud Spark we now offer one of the best and most flexible, multi-currency products on the market. Holding different currencies in a single account means less unnecessary conversions & more freedom for business. Our clients can scale globally while getting paid like a local.”

Read the full article on Currencycloud’s website here 

4. Acquis Insurance Management release latest whitepaper for European Leasing Industry professionals

Next up, Acquis Insurance Management’s latest whitepaper, Forging a Path to Recovery Through Leasing, reveals the results of exclusive research into the European SME market and gauges current market sentiment, what plans SMEs have for the future, and how they will look to recover from the pandemic. The whitepaper also investigates how asset finance can power SME growth in 2021 and beyond. 

Acquis’ research found that three in ten businesses took some form of government backed loan during the pandemic.

Nick Leader, CEO of Acquis commented: 

“Although government-backed loans have been essential for many small businesses to survive during the pandemic, it does create something of a paradox for the leasing market. Some SMEs will have favoured taking these loans instead of traditional leasing products. It will be interesting to see how the demand for leasing products changes without the option for a government-backed loan. It’s also worth bearing in mind that some SMEs will have taken these loans as a safety net but not used them, creating a possible time lag for the leasing market, since they may use their loans before turning to other forms of finance.” 

Click here to download and read the full whitepaper from Acquis.

5. W2 and TagNItecrest Announce Partnership to Strengthen Payments Eco-System 

Finally, this week saw leading provider of regulatory compliance software W2 announce a channel partnership with card manufacturing firm TagNItecrest. The partnership will see both parties use their experience and knowledge of the payments and fintech industry to strengthen the eco-system and enable businesses to find simplicity in a usually complex process.

W2 and TagNitecrest have already collaborated on multiple opportunities within the payments industry, and with TagNitecrest’s recent investments in production capacity alongside W2 implementing significant improvements to their compliance platform including major developments to their full case management solution, the partnership couldn’t come at a better time for both.

Lynsey Hoxha, Partner Network Lead at W2 commented:

“Having a collaborative agreement in place with TagNitecrest brings benefits for both businesses. We firmly believe that TagNitecrest are the leading producer of cards for fintechs and challenger banks in Europe and the work they have been doing into eco cards and biometrics technology shows they are investing in the next generation of the payments industry.”

Bill Gibson, Business Development Director at TagNitecrest added:

“There is no doubt that W2 is the stand-out leader in this space and we are proud to be associated with their fantastic team. This agreement formalizes a strong partnership that dates back many years.”

W2 and TagNitecrest will both be actively seeking opportunities from companies needing to both onboard customers in real-time whilst complying with regulatory requirement, and a need for industry leading card manufacturing

Read the full article on W2’s website 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.