Fintech, Finance, Technology, Banking Highlights – 27 November 2018
Emirates NBD supports Google Pay
Emirates NBD, a leading banking group in the region, today announced that its debit and credit card customers can now pay via Google Pay.
As contactless payments gain popularity in the UAE, the bank, a front-runner in banking and payments technology, has taken the lead in supporting new, easy and accessible ways to pay. Google Pay enables users to make quick and secure payments via their Android devices, wherever contactless payments are accepted.
To make purchases, customers will need to add their Emirates NBD Visa and MasterCard credit and debit cards to Google Pay.
Commenting on the announcement, Suvo Sarkar, Senior Executive Vice President, Head of Retail Banking and Wealth Management, Emirates NBD said: “Enabling fast, easy and secure payments is core to our customer proposition. Our partnership with Google Pay reinforces our commitment to creating seamless payment experiences for our customers, as we continue to lead banking innovation and digitisation in the region.”
Google Pay uses near field communication (NFC) to transmit card information thus replacing the need for authentication via chip and pin. Users can load their card details directly to their Google Pay wallet, making it a safer and more convenient transaction method.
SteelEye completes £5.7 million seed round led by Illuminate Financial
SteelEye, the compliance technology and data analytics firm, today announced that it has completed a £2.9m fundraise extension led by capital markets venture capital firm, Illuminate Financial, bringing the total seed funds raised to £5.7m.
The funding will help drive the expansion of SteelEye’s products and services and its ability to serve a growing client base during a time of rapid regulatory change.
SteelEye’s innovative cloud based solutions helps clients to solve compliance challenges for MiFID II, MAR, EMIR, Dodd Frank and other international regulatory obligations. SteelEye brings together order, trade, market and reference data along with communications (electronic and voice), and counterparty information (CRM) helping firms not only conform to regulations, but to trade with greater efficiency, profitability and control. At the same time, its open API framework allows clients to harness the power of their data in whatever manner best suits their business needs. SteelEye is the only platform that offers transaction reporting, record keeping, trade reconstruction, best execution, communications & trade surveillance and data analytics in a single comprehensive solution.
“We’re excited to add SteelEye to the Illuminate Portfolio” said Mark Beeston, Managing Partner and Founder of Illuminate Financial Management “SteelEye have brought scalability and usability to the RegTech space in a way that can also deliver valuable business insight moving beyond cost and compliance into providing competitive advantage as well” he added.
TranSwap releases cross-border payments API
Singapore-based cross-border payments company TranSwap has launched its proprietary platform to help SMEs streamline their payment processes and seamlessly make FX payments at the most competitive rates.
As SMEs are increasingly transcending geographical borders and going global, TranSwap’s platform allows businesses to make payments to over 45 countries. SMEs can also choose to integrate with TranSwap’s API for full automation of multiple transfers.
TranSwap helps businesses to seamlessly manage and execute payments globally while reducing FX costs and complexity. The FinTech platform offers the most competitive rates through its proprietary online transaction portal and wide network of FX Partners to enable businesses to fulfil payments overseas at the lowest cost efficiently.
TranSwap is an onboarded Value-Added Service (VAS) Provider on the Networked Trade Platform (NTP)
Cross-border payments provided by TranSwap are now available on the NTP VAS listing. As a NTP VAS provider, TranSwap is part of the vibrant trade ecosystem that is the NTP — a Singapore Government initiative. TranSwap offers importers and exporters seeking to make payments internationally a cost-effective and convenient solution.
Delta Capita acquires Pall Mall Risk Reduction
Delta Capita, the international business & technology consulting and managed services firm, has announced its acquisition of Pall Mall Risk Reduction a London-based consultancy specialising in non-financial and conduct risk management for Banks and Investment firms.
Pall Mall Risk Reduction was established by three former senior executives from Credit Suisse, founded by David Long who held various senior positions at Credit Suisse during his 30 years at the bank.
Most recently, David Long was head of Strategic Initiatives at Credit Suisse, a role that included planning for its business model after the Brexit referendum. Previously, he was also the Group Chief Operating Officer for the EMEA region.
The other co-founders of Pall Mall Risk Reduction include:
Nick Wilcock, who was latterly Deputy EMEA COO for Credit Suisse and formerly President of its Moscow bank during his 25 years at the bank, and Charanpal Matharu, who spent 13 years at Credit Suisse and was instrumental in pioneering the Front Office Supervisory practices and the First Line of Defence Controls Officer function within Global Markets.