Fintech, Finance, Technology, Banking Highlights – 5 June 2018

ABN Amro forms partnership with Opportunity Network

ABN AMRO has agreed a strategic partnership with Opportunity Network, an online cross-border platform providing entrepreneurs with insight into real-life opportunities for growth, acquisitions, expansion, sale etc.

Daphne de Kluis, CEO of Commercial Banking, comments: “By teaming up with Opportunity Network, we’re able to offer extra service and support to help entrepreneurs achieve their ambitions. This also facilitates the dialogue between clients and bank about future business plans, and fits in neatly with our strategy to serve our clients in the best possible and most innovative ways, both as a bank and through partnerships.”
Opportunity Network

Opportunity Network is a worldwide online network platform for businesses generating upwards of EUR 2.5 million in revenues. Operating exclusively with and through a select group of banks and similar trusted partners, Opportunity Network gives CEOs and their teams real-time access to domestic and international opportunities at all stages of the business cycle, such as growth, expansion or sale. Clients visiting the platform can post their opportunities and are given the chance to close deals with connections made on the platform. ABN AMRO is the first player in the Netherlands to provide access to this exclusive network of by now over 14,000 CEOs. Brian Pallas, Opportunity Network’s CEO, says: “We work closely with banks that put their clients’ success centre stage, and ABN AMRO perfectly matches this profile. This partnership enables thousands of companies to get in touch with each other. We connect organisations and so help them do business, regardless of where they run their operations.”

Paysafe has completed the acquisition of iPayment iPayment

Paysafe Group, a leading global payments provider, announces today that it has completed the acquisition of iPayment Holdings, Inc. (iPayment) which was signed on April 12, 2018.

iPayment, a U.S. based provider of payment and processing solutions for small and medium-sized businesses, generated processing volumes of over $25 billion in 2017 from more than 137,000 merchant customers across the country. Combined with Paysafe’s acquisition of MCPS last year, the acquisition establishes Paysafe as a top 5, non-bank, payment processor in the U.S.

The integration process of combining iPayment with Paysafe’s North America payment processing organization will now commence. Todd Linden, CEO of Paysafe in North America, will run the expanded organization and O.B. Rawls IV, iPayment’s former CEO, along with iPayment CFO, Robert Purcell, have both accepted new leadership roles within Paysafe.

Paysafe Group CEO, Joel Leonoff, is excited that the product suite which Paysafe will be able to deliver at scale to the marketplace will be unrivalled. The acquisition also allows Paysafe and iPayment to cross-sell more products such as POS solutions, digital wallets, pay later and prepaid solutions to a significantly expanded customer base.

Automated financial advisor Multiply raises £1.75 million

Multiply, the UK’s first1 fully-automated independent financial advice service, has secured investments totaling £1.75 million, led by Octopus Ventures.

Multiply aims to revolutionise the financial advice landscape. Subject to FCA authorisation, it will officially launch its offering later this year to be the UK’s first unbiased, free and fully comprehensive financial advice website. Covering every aspect of personal finance, from mortgages to investments and savings, Multiply uses machine learning and financial modelling to create bespoke financial plans for consumers.