Fintech, Finance, Technology, Banking Highlights – 25 May 2018

Token Enables Bank Direct Payments For Paymentworld

Turnkey open banking platform provider Token today announces that it is enabling Paymentworld Europe Ltd. to provide a bank direct payments facility to its business and consumer customers. Paymentworld’s portfolio of payment services includes a payment gateway with 400+ payment options in 160 countries, an EWallet that enables B2B, B2C and C2C transactions, independent payment processing and value-added services such as loyalty and bonus programmes.

Integration with Token’s platform benefits Paymentworld’s gateway customers by enabling bank direct payments and lowering the cost of transactions – as well as being a chargeback-free solution when used at checkout. It also improves the end-user experience by allowing individuals and merchants to make payments and check their balance in-app, without redirecting to banking portals.

Jens Podewski, CEO, MD and Founder of Paymentworld, explains, “Our aim is to enable our customers to quickly and easily initiate and receive payments in whatever form best suits them, wherever they are in the world. Adding bank direct payments to our payment gateway and EWallet solutions via Token’s platform is the next logical step and establishes us as early market-leaders in the new era of open banking.”

Moneyhub integrates with Intelliflo for financial advisers

Moneyhub has integrated with Intelliflo’s API, to offer financial advisers an innovative, transparent, and holistic 360-degree view of their clients’ managed pensions and investments.

The integration means that advisers can access secure, real-time, and two-way sharing. Clients are able to see all of their bank accounts and non-advised investments aggregated in one place and securely share this with their advisers at the click of a button. Advisers in turn, can link the investments they manage, and have rapid insight into clients’ personal spending and saving behaviours.

Wirecard expands value-added portfolio and offers fast and fully digitalized loans

Wirecard, the international innovation leader in the field of digital financial technology, is expanding its ecosystem of value-added services by now offering loans via its platform to existing B2B customers.

Merchants can now benefit from flexible, digital loan-approval processes at favorable terms.

The credit assessment and decision system is directly integrated into Wirecard’s digital payment infrastructure. An Artificial Intelligence (AI) based data analysis system, which uses data from long-term business relationships in the area of payment processing, can be used for real-time evaluation. Merchants with acute funding needs will therefore benefit from uncomplicated decision-making processes and shorter waiting times for loan disbursements.

Alexander von Knoop, CFO of Wirecard AG: “In recent years, Wirecard has grown from a pure payment provider to one of the leading specialists in the field of digital financial technology. As part of our global strategy, our aim is to offer the most comprehensive portfolio of digital financial services from a single source on a digital platform. The loan business, therefore, not only offers huge additional value for our customers, but also directly leverages the potential offered by a globally consistent digital platform.

After a successful pilot phase and as part of the expansion of the Wirecard ecosystem, the loan business is now being rolled out internationally. For this, Wirecard cooperates with major financial institutions, bringing together real-time AI technology and traditional banking services.