Fintech, Finance, Technology, Banking Highlights – 8 November 2018
EToro rolls out crypto wallet
eToro, the global investment platform with over 10 million registered users, confirms the roll out of its crypto wallet.
The eToro wallet is a mobile application available via Google Play and the Apple App Store. It provides an easy to use customer interface and enhanced security. Multi-signature security gives users the ability to see their on-blockchain transactions and balances without the fear of losing their private key.
Yoni Assia, CEO of eToro comments: “We believe that crypto and the blockchain technology that underpins it will have a huge impact on global finance. Blockchain has the potential to revolutionise finance and we believe that we will see the greatest transfer of wealth ever onto the blockchain. We believe that in the future all assets will be tokenised and that crypto is just the first step on this journey. Just as eToro has opened up traditional markets for investors, we want to do the same in a tokenised world. The eToro wallet is a key part of this.”
In order to ensure the best customer experience for clients, eToro is launching its crypto wallet on a phased basis both in terms of users, with a country by country roll out, and functionality.
At launch, users will be able to store Bitcoin, Bitcoin Cash, Ethereum and Litecoin in their eToro wallet. The number of supported cryptos will increase over time just as eToro has increased the number of cryptos available on its platform.
Ixaris targets travel sector
B2B payments solutions provider Ixaris announces the launch of a range of payment products that will see Ixaris, with support from Visa in Europe, target the global travel sector with competitive travel payments offerings based on Ixaris’ award-winning virtual payments solutions.
Ixaris has long been a pioneer in virtual payments with a recognised strong pedigree in travel payments, in particular. With backing from Visa in Europe, a world leader in commercial payments, and with its own innovative virtual payments technology, Ixaris can offer the travel industry unrivalled opportunities to drive payments optimisation and cost efficiencies.
Ixaris research shows that the cost of payments for an average online travel agency (OTA) can amount to 20% of gross profits, substantially cutting into bottom line value. With payments now deemed a strategic priority for 84% of OTAs, but with 36% not knowing what payments actually cost them, it is clear that there is a tremendous untapped opportunity for Ixaris to exploit.
Aran Brown, Ixaris CEO said “We’re delighted to signal our intent to further challenge in the growing travel payments market with the support of Visa, whose backing is a strong endorsement of our travel strategy. We’re pleased that Visa Europe has cemented its confidence in our market-leading payments technology. Together we bring a range of payment solutions that offer best-in-class options for the most important travel use cases.”
Fenergo expands into private banking and wealth management
Fenergo, a provider of Client Lifecycle Management solutions (CLM) and services for financial institutions, has announced its expansion into Private Banking and Wealth Management, with the creation of a new division lead by Steve D’Souza.
The establishment of this new Private Banking and Wealth Management division directly aligns with Fenergo’s market expansion strategy and its objective to deliver value-adding, innovative and proven CLM services to financial institutions. Steve will report directly to Fenergo’s CEO Marc Murphy and will be based in London.
“The creation of this division demonstrates our commitment to growing the business even further and extending our award-winning CLM platform to new market segments,” said Fenergo CEO, Marc Murphy. “This division will build on the successes we have already achieved in the Corporate and Institutional Banking (CIB) space and will allow us to enhance and develop our proposition to Private Banking and Wealth Management clients further.”
Trulioo opens satellite office in Dublin
Trulioo, a global identity verification provider, announced the launch of its new satellite office in Dublin to accommodate rapid growth and leverage the city’s growing financial and technological opportunities.
This new location strengthens Trulioo’s European presence and offers a unique opportunity for the company to thrive in a growing RegTech hub.
“Our physical presence in Dublin will allow us to work more personally with our partners and customers in Europe,” said Stephen Ufford, founder and CEO of Trulioo. “Eighty percent of global technology firms have a presence in Dublin, so it’s no surprise the city is emerging as a RegTech center.”
Tech giants like Google, Facebook and Amazon are establishing European offices in Dublin at a rapid pace. As a result, Irish GDP grew 7.8 percent in 2017 alone, making Ireland the EU’s fastest-growing economy for the fourth consecutive year. As large technology firms need scalable solutions to help meet cross-border compliance obligations more efficiently and cost-effectively, this presents a ripe opportunity for RegTech companies.
“RegTech solutions that help tech companies adhere to new and emerging compliance requirements are critical for creating greater efficiencies as these businesses scale and expand into new markets,” Ufford added. “With our new satellite office, Trulioo will continue to focus efforts on increasing trust and safety online by powering fraud prevention and compliance systems through a single API integration.”
