Fintech
County Capital 2 Ltd. Provides Further Details of Its Qualifying Transaction with Givex Corporation
Toronto, Ontario–(Newsfile Corp. – October 5, 2021) – County Capital 2 Ltd. (TSXV: CTWO.P) (the “Corporation“), further to its press release dated September 8, 2021, is pleased to provide further details of its proposed qualifying transaction (the “Proposed Transaction“) with Givex Corporation (“Givex“). In conjunction with the Proposed Transaction, Givex anticipates completing a brokered private placement for minimum gross proceeds of $10,000,000 (the “Concurrent Financing“) of subscription receipts with the details to be announced at a later date.
Givex, incorporated under the International Business Companies Act (Bahamas), is a fintech company with a 20-year track record of sustainable, profitable growth that has developed and commercialized a cloud-based, omnichannel technology platform, seamlessly integrating gift and loyalty programs, point of sale systems and flexible payment services to enterprise level retail and hospitality merchants across the globe. With clients including some of the world’s largest brands, Givex’s platform is currently deployed in over 90,000 client locations across 70 countries.
THE PROPOSED TRANSACTION
On September 7, 2021, the Corporation entered into a binding engagement agreement with Givex and its founder, Don Gray, pursuant to which the Corporation shall acquire all of the issued and outstanding Givex common shares (the “Givex Shares“) by way of merger, carried out pursuant to a business combination agreement. It is intended that the Proposed Transaction will constitute a reverse take-over of the Corporation by Givex inasmuch as the former shareholders of Givex will own, assuming completion of the Concurrent Financing up to 87.74% of the then outstanding non-diluted common shares in the capital of the Corporation (the “County Shares“) and up to 97.47% together with the subscribers in the assumed completion of the Concurrent Financing. The Corporation following the completion of the Proposed Transaction is herein referred to as the “Resulting Issuer“.
The Proposed Transaction will constitute the “Qualifying Transaction” of the Corporation as such term is defined in Policy 2.4 – Capital Pool Companies (the “CPC Policy“) of the Exchange and it is anticipated that the County Shares will trade under the stock symbol “GIVX”, subject to Exchange approval.
To the knowledge of the directors and executive officers of the Corporation, the only persons who currently beneficially own, directly or indirectly, or exercise control or direction over more than 10% of the Givex Shares is Mr. Don Gray, an individual resident of the Bahamas, who currently has voting control over approximately 68% of the outstanding Givex Shares, and JPE Trust, a venture fund that currently owns approximately 20.7% of the outstanding Givex Shares.
On or immediately prior to the closing of the Proposed Transaction, the Corporation will consolidate its outstanding share capital (the “Consolidation“) on the basis of 1 new County Share for each 9.1871 existing County Shares. There are currently 23,886,500 County Shares outstanding which will result in 2,600,004 post-Consolidation County Shares issued and outstanding. The Consolidation will also affect the holders of the Corporation’s outstanding warrants and options, as described below, on the same basis.
Prior to the closing of the Proposed Transaction, Givex will split its outstanding share capital (the “Split“) on the basis of 20 Givex Shares for each of 1 existing Givex Share and there will be 90,214,300 Givex Shares and 9,786,700 restricted share units (“Givex RSUs“) outstanding at such time.
In connection with the Proposed Transaction, the Corporation will incorporate a wholly-owned subsidiary under the International Business Company Act (Bahamas) which will then merge with Givex to form a merged Bahamian corporation and in connection with the merger, holders of Givex Shares (including prior holders of subscription receipts purchased in the Concurrent Financing) will each ultimately receive one Resulting Issuer Share in exchange for each Givex Share held and the Givex RSUs will be exchanged for restricted share units of the Resulting Issuer on the same terms (“Resulting Issuer RSUs“).
Following the completion of the Proposed Transaction, the Consolidation, the Split and the Concurrent Financing (collectively, the “Transactions“), there will be approximately 102,813,300 common shares of the Resulting Issuer (“Resulting Issuer Shares“) outstanding.
The Proposed Transaction will not constitute a “Non-Arm’s Length Qualifying Transaction” (as such term is defined by the Exchange). In addition, the Proposed Transaction is not a “related party transaction” as such term is defined by Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions and is not subject to Policy 5.9 of the Exchange. As a result, no meeting of the shareholders of the Corporation is required pursuant to Policy 2.4 of the Exchange or applicable securities laws. An associate of Tyler Lang, President and Director of the Corporation currently beneficially owns 750,000 Givex Shares (or 0.075% of the outstanding Givex Shares and Givex RSUs). Mr. Lang currently owns 500,000 County Shares (on a pre-Consolidation basis), representing approximately 2.1% of the outstanding County Shares as of the date hereof.
The following table summarizes the proposed pro forma capitalization of the Resulting Issuer following completion of the Proposed Transaction, the Consolidation, the Split and the Concurrent Financing:
| Resulting Issuer Shares | Securities Outstanding After Giving Effect to the Proposed Transaction (% of fully diluted) | |
| Issued to Givex Shareholders pursuant to the Proposed Transaction | 90,213,300 | 75.77% |
| Existing County Capital Shareholders | 2,600,004 | 2.18% |
| Issued to investors on the Concurrent Financing(1) | 10,000,000 | 8.40% |
| Resulting Issuer RSUs | 9,786,700 | 8.22% |
| Total Resulting Issuer Shares (basic, including RSUs) | 112,600,004 | 94.57% |
| Reserved for issuance upon the exercise of warrants to be issued on the Concurrent Financing (the “Warrants“) | 5,000,000 | 4.20% |
| Reserved for issuance upon the exercise of Broker Warrants (as defined below) and Finders Units (as defined below)(2) | 1,117,500 | 0.94% |
| Reserved for issuance upon exercise of outstanding County Capital stock options and warrants (post-Consolidation) | 351,309 | 0.30% |
| Total Resulting Issuer Shares (diluted) | 119,068,813 | 100.00% |
Notes:
(1) Assumes gross proceeds of $10,000,000 raised under the Concurrent Financing.
(2) It is anticipated that the agents in the Concurrent Financing will be issued broker warrants (each, a “Broker Warrant“), each exercisable to purchase one unit of Givex consisting of one Givex Share and one-half of one Warrant, to be exercisable for equivalent units of the Resulting Issuer following completion of the Proposed Transaction. These figures include (i) the Resulting Issuer Shares partially comprising the units issuable upon the exercise of the Broker Warrants and Finders Units; and (ii) the Resulting Issuer Shares issuable upon exercise of the warrants underlying the Broker Warrants and Finders Units.
FINDER’S FEE
In connection with the Proposed Transaction, conditional upon completion of the Proposed Transaction, Givex has agreed to pay a finder’s fee to an arm’s length party, WD Capital Markets Inc., of $45,000 payable in units of the Resulting Issuer consisting of one Resulting Issuer Share and one-half of one Resulting Issuer Share purchase warrant (the “Finders Units“).
SELECTED FINANCIAL STATEMENT INFORMATION
The following tables present selected financial statement information on the financial condition and results of operations for the Corporation and Givex. Such information is derived from the unaudited financial statements of Givex for the period ended December 31, 2020 and the audited financial statements of the Corporation for the period ended November 30, 2020. The information provided herein should be read in conjunction with the financial statements of Givex for the period ended December 31, 2020, which will subsequently be audited and which have been prepared in accordance with IFRS, and which will be filed on SEDAR when the Corporation files its Filing Statement with respect to the Proposed Transaction. The Corporation’s financial statements have been filed on SEDAR.
| Givex December 31, 2020 (unaudited) |
County Capital 2 November 30, 2020 (audited) |
|
| Revenue | $ 51,525,626 | $ – |
| Expenses | 16,402,852 | 54,146 |
| Gross profit | 35,122,774 | (54,146) |
| Net income (loss) | 2,573,799 | (54,146) |
| Adjusted EBITDA | 9,003,232 | – |
| Current assets | 28,204,944 | 1,285,637 |
| Other assets | 19,121,378 | – |
| Total assets | 47,326,322 | 1,285,637 |
| Current liabilities | 14,495,812 | 53,633 |
| Other liabilities | 7,645,769 | – |
| Total liabilities | 22,141,581 | 53,633 |
| Shareholders’ Equity | 25,184,741 | 1,232,004 |
| Total Liabilities and Shareholders’ Equity | $ 47,326,322 | $ 1,285,637 |
PROPOSED MANAGEMENT AND DIRECTORS OF THE RESULTING ISSUER
It is the intention of the Corporation and Givex to establish and maintain a board of directors of the Resulting Issuer with a combination of appropriate skill sets that is compliant with all regulatory and corporate governance requirements, including any applicable independence requirements. Upon completion of the Proposed Transaction, the board of the Resulting Issuer is expected to be comprised of four (5) individuals, which will include one (1) nominee of the Corporation and four (4) nominees of Givex. The following are brief descriptions of the proposed management and directors of the Resulting Issuer:
Don Gray: CEO and Chairman. Mr. Gray has been part of the Information Technology industry for over four decades. He has many years of experience in start-ups, turnarounds, acquisitions, and dispositions. He has been totally focused on Givex since starting the company in 1999. Mr. Gray’s start-up experience includes point-of-sale (POS), Internet and Cloud Computing companies and has operating experience in special effects, gaming and hospitality. With subsidiaries in 10 countries and more than 250 employees, Mr. Gray has developed needed global operations expertise.
Jim Woodside: CFO, Corporate Secretary and Director. Mr. Woodside has over 25 years of senior financial experience including time with companies in the technology space. Mr. Woodside completed his CPA with KPMG and is also a CBV / Chartered Business Valuator. He has a BA from the University of Western Ontario and a BComm from the University of Windsor.
Michael Carr: Independent Director. Mr. Carr has over 25 years operating experience in the Internet, Cloud Computing and TravelTech industries. Currently, he is the CEO and Board Member of Amgine, a Toronto-based Digital Process Automation company servicing Business Travel Agencies. He is also a co-founder and board member of Matter365, a SaaS platform for legal firms. Previously, he was COO of Ingram Micro’s Cloud Business Unit after selling his Cloud Computing business to Ingram in 2013. He is a Canadian citizen and resident and holds a BA from York University.
Miles Evans: Independent Director. Mr. Evans has over 20 years experience working as a director, professional trustee and advising family offices. He is a Fellow of the Family Firm Institute where he holds an Advanced Certificate in Family Wealth Advising and is a member of the National Association of Corporate Directors. He serves on the Boards of the Association of International Banks and Trust Companies and the Lyford Cay International School. A British and Bahamian national, who has lived in England, The Bahamas and France, he speaks English and French and is a founder and CEO of an international trust company and multifamily office. Mr. Evans holds a BSc (Hons) from the University of St. Andrews in Scotland and a BA in Financial Studies from UMIST.
Robert Munro: Independent Director. Mr. Munro has over 20 years of experience with the Capital Pool Company (“CPC“) program and has been directly involved in more than a dozen CPC transactions. Most recently, he was CEO, CFO, Director and Promoter of County Capital One Ltd., a CPC which completed its Qualifying Transaction in May, 2019 with Adcore Inc., a leading e-commerce advertising management and automation platform based in Tel-Aviv, Israel. Mr. Munro holds a BA degree from Huron College, the founding college of the University of Western Ontario.
Brittain Brown: President. Mr. Brown joined Givex in 2003. As President, Mr. Brown is tasked with being a collaborator and team builder, responsible for building relationships with partners and industry leaders. He has overseen the successful integrations of new additions to the Givex family of companies internationally. His leadership and passion for people have been instrumental in the company’s continued growth. Mr. Brown graduated from Queen’s University with a BA (Hons) in Economics.
Graham Campbell: Chief Operating Officer. Mr. Campbell is a technology executive with over 15 years of experience in the payment, e-commerce and point of sale sectors. Since joining Givex in 2006, he has held positions including: VP of Projects & Implementations, VP and General Manager of GivexPOS, as well as SVP of Product Development. Mr. Campbell is passionate about delivering valuable new forward thinking, end-user focused products to market that scale. Campbell has a well-rounded background including specialties within operations, product management, project management, user experience and user interface design. Mr. Campbell attended Queen’s University, where he received his BA in Political Sciences, then went on to receive his BAH. in Philosophy. He also holds an honours diploma in Producing & Engineering from Harris Institute for the Arts.
Mo Chaar: Chief Commercial Officer. Mr. Chaar oversees commercial strategy and development worldwide as well as managing sales teams within North America. Since joining Givex in 2007, his experience in gift card, loyalty, and POS has played a pivotal role in the success of some of Givex’s largest partners.
SIGNIFICANT CONDITIONS TO CLOSING
The completion of the Proposed Transaction is subject to a number of conditions, including but not limited to completion of the Concurrent Financing, satisfactory due diligence reviews, approval by both boards of directors, approval of Givex’s shareholders, obtaining necessary governmental and third-party approvals and Exchange acceptance. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the non-offering prospectus prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
SPONSORSHIP
The Corporation intends to apply for a waiver from the sponsorship requirement. There is no guarantee that such waiver can be obtained.
ARM’S LENGTH QUALIFYING TRANSACTION
The control persons of Givex are not (and their associates and affiliates are not) control persons in the Corporation. Accordingly, the acquisition by the Corporation of all the issued and outstanding shares of Givex is not a Non-Arm’s Length Qualifying Transaction for the purposes of Exchange policies. As a result, the Proposed Transaction will not be subject to approval of the shareholders of the Corporation and therefore no meeting of the shareholders of the Corporation is required as a condition to the completion of the Proposed Transaction.
INSIDERS OF THE RESULTING ISSUER
Other than has been previously referred to in this press release, and to the knowledge of the directors and senior officers of the Corporation or Givex, no person will become an insider of the Resulting Issuer as a result or upon completion of the Proposed Transaction.
USE OF NON-IFRS MEASURES
Adjusted EBITDA
Management uses adjusted earnings before interest, income taxes, depreciation and amortization (“Adjusted EBITDA“) as a key financial metric to evaluate Givex’s operating performance and for planning and forecasting future business operations. Adjusted EBITDA excludes significant items which are non-operating in nature (including finance costs, acquisition, integration and severance costs, share-based compensation expense, gain / loss on foreign exchange, settlement costs related to legal proceedings and other various costs) in order to evaluate Givex’s core operating performance against prior periods. Adjusted EBITDA is not a measure of financial performance under GAAP and should be considered in addition to, and not as a substitute for net earnings, overall change in cash or liquidity of the business as a whole. Management believes the use of Adjusted EBITDA allows investors and analysts to understand the results of the continuing operations of Givex and its subsidiaries, by excluding certain items that have a disproportionate impact on Givex’s results for a particular period. Management’s method of determining non-GAAP financial measures are evaluated periodically and may differ from other companies’ methods and therefore may not be comparable to those used by other companies.
The following table presents Givex’s Adjusted EBITDA for the year ended December 31, 2020:
| December 31, 2020 (unaudited) |
|
| Net Income | $ 2,573,799 |
| Adjustments: | |
| Income Tax Expense | 129,269 |
| Net Interest Expense | 607,353 |
| Depreciation and amortization | 5,650,411 |
| Foreign Exchange Loss | 42,400 |
| Total Adjustments | 6,429,433 |
| Adjusted EBITDA | $ 9,003,232 |
ABOUT COUNTY CAPITAL
County Capital brings together an elite group of industry leaders with a mandate to create and complete a series of professionally managed Capital Pool Companies. For more information about County Capital and the CPC Program, please visit www.countycapital.ca.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements, including statements about the Corporation’s future plans and intentions and completion of the Proposed Transaction. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
For further information please contact:
County Capital 2 Ltd.
Robert Munro, CEO & CFO
Telephone: 416.272.1140
Email: [email protected]
Website: www.countycapital.ca
Givex Corporation
Don Gray, CEO
Telephone: 416.350.9660 ext. 2227
Email: [email protected]
Website: www.givex.com
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98629
The fintech landscape continues to redefine itself, driven by innovation, partnerships, and groundbreaking strategies. Today’s roundup focuses on the latest digital wallet offerings, evolving payment trends, strategic collaborations, and notable funding achievements. This editorial explores the broader implications of these developments, casting light on how they shape the future of fintech and beyond.
Beacon’s Digital Wallet for Immigrants: A Gateway to Financial Inclusion
Beacon Financial, a leading player in financial technology, recently launched a digital wallet tailored to meet the unique needs of immigrants moving to Canada. This offering bridges a critical gap, enabling seamless financial integration for newcomers navigating a foreign system.
By combining intuitive technology with user-centric features, Beacon aims to empower immigrants with tools for payments, savings, and remittances. This aligns with the growing demand for tailored financial products that resonate with specific demographics.
Op-Ed Insight:
Financial inclusion is more than just a buzzword; it’s a moral imperative in the fintech space. Products like Beacon’s digital wallet highlight the industry’s potential to create tangible change. As global migration trends increase, such offerings could inspire similar initiatives worldwide.
Source: Fintech Futures.
Juniper Research Highlights 2025’s Payment Trends
Juniper Research’s latest report unveils pivotal payment trends poised to dominate in 2025. Central themes include the adoption of instant payment networks, a surge in embedded finance solutions, and the rise of crypto-backed financial products.
The research underscores the rapid adoption of real-time payment systems, fueled by increasing consumer demand for speed and efficiency. Meanwhile, embedded finance promises to blur the lines between traditional banking and non-financial services, delivering personalized and context-specific solutions.
Op-Ed Insight:
As the lines between financial services and technology continue to blur, these trends emphasize the industry’s shift toward convenience and personalization. The growing role of crypto-based solutions reflects an evolving consumer mindset, where decentralization and digital-first experiences gain precedence.
Source: Juniper Research.
MeaWallet and Integrated Finance Partner to Revolutionize Digital Wallets
MeaWallet, a prominent fintech solutions provider, has partnered with Integrated Finance to advance digital wallet capabilities and secure card data access for fintech companies. This collaboration focuses on empowering fintechs to deliver better, safer digital payment experiences.
MeaWallet’s role as a technology enabler aligns seamlessly with Integrated Finance’s goal of simplifying complex financial infrastructures. Together, they aim to create scalable, robust platforms for secure payment solutions.
Op-Ed Insight:
Partnerships like this underscore the importance of collaboration in driving innovation. As security concerns grow in tandem with digital payment adoption, solutions addressing these challenges are essential for maintaining consumer trust. The fintech ecosystem thrives when synergy and innovation coalesce.
Source: MeaWallet News.
Nucleus Security Among Deloitte’s Fastest-Growing Companies
Nucleus Security has achieved a remarkable milestone, ranking 85th on Deloitte’s 2024 Technology Fast 500 list. This achievement is attributed to its robust cybersecurity solutions, which cater to the increasingly digital fintech environment.
With cyberattacks becoming more sophisticated, fintech companies are under immense pressure to safeguard their platforms. Nucleus Security’s growth reflects the rising demand for comprehensive, scalable security solutions that protect sensitive financial data.
Op-Ed Insight:
In a digital-first world, robust cybersecurity isn’t optional—it’s fundamental. The recognition of companies like Nucleus Security signals the growing importance of protecting fintech infrastructure as the industry scales globally.
Source: PR Newswire.
OpenYield Secures Funding to Transform the Bond Market
OpenYield has announced a successful funding round, aiming to revolutionize the bond market through innovative technology. The platform promises greater transparency, efficiency, and accessibility in fixed-income investments.
This funding underscores the growing appetite for digitizing traditionally opaque financial markets. By leveraging cutting-edge technology, OpenYield seeks to democratize bond investments, making them accessible to a broader audience.
Op-Ed Insight:
The bond market, long viewed as complex and inaccessible, is ripe for disruption. OpenYield’s efforts to modernize this space highlight fintech’s transformative potential to democratize finance and empower individual investors.
Source: PR Newswire.
Key Takeaways: Shaping the Future of Fintech
Today’s developments underscore several critical themes in the fintech landscape:
- Personalization and Inclusion: Products like Beacon’s wallet highlight the importance of understanding and addressing specific user needs.
- Collaborative Ecosystems: Partnerships, like that of MeaWallet and Integrated Finance, emphasize the power of collaboration in solving industry challenges.
- Emerging Technologies: Juniper Research’s predictions affirm the continued influence of blockchain, embedded finance, and instant payment networks.
- Security at the Core: The recognition of Nucleus Security underscores the essential role of cybersecurity in fintech.
- Market Transformation: OpenYield’s funding signifies the ongoing disruption of traditional financial markets, paving the way for broader accessibility.
The post Fintech Pulse: Daily Industry Brief – A Dive into Today’s Emerging Trends and Innovations appeared first on News, Events, Advertising Options.
As fintech continues to reshape the global financial landscape, today’s briefing highlights pivotal developments, strategic expansions, and innovative launches across the industry. This op-ed explores the latest advancements with commentary on their potential impacts and challenges.
Finastra Data Breach: A Wake-Up Call for Fintech Security
Source: KrebsOnSecurity
The cybersecurity landscape is buzzing after Finastra, one of the largest financial technology providers globally, confirmed an investigation into a potential data breach. Reports suggest unauthorized access to its systems, raising concerns about data security across its client base, which includes thousands of banks and financial institutions worldwide.
Implications and Challenges
While the details of the breach remain sparse, this incident underscores a glaring vulnerability in the fintech sector—cybersecurity. As financial services increasingly rely on interconnected ecosystems, breaches like these threaten not only individual institutions but also the trust customers place in fintech platforms.
The key takeaway for the fintech industry is clear: proactive cybersecurity strategies must go beyond compliance. Real-time threat detection, robust encryption standards, and regular audits are no longer optional but essential for maintaining operational integrity.
Future Considerations
This breach could trigger a domino effect, prompting regulators to tighten security standards and requiring fintech companies to double down on investments in data protection. Startups and mid-tier players, often lacking extensive cybersecurity budgets, may face significant pressure to keep pace.
PayPal Resurrects Money Pooling Feature
Source: TechCrunch
In a bid to stay ahead of the competition, PayPal is reintroducing its Money Pooling feature, a popular tool that was discontinued in 2021. The feature allows users to pool funds collectively, catering to families, small businesses, and social groups.
Strategic Revival
This move reflects PayPal’s commitment to customer-centric innovation. By reinstating a feature beloved by its user base, the company seeks to reclaim market share lost to emerging competitors offering similar functionalities.
Broader Industry Impacts
Money pooling represents a broader trend in fintech—customized solutions that cater to niche needs. This reintroduction may inspire competitors like Venmo and CashApp to refine their collaborative payment offerings.
While this move strengthens PayPal’s ecosystem, its success will depend on seamless integration with existing services and robust fraud prevention mechanisms to avoid abuse of the feature.
Santander Expands Fintech Reach in Mexico
Source: Yahoo Finance
Santander is making waves in the Latin American fintech space with the launch of a dedicated fintech unit in Mexico. The initiative aims to capitalize on Mexico’s growing fintech adoption and digital payments market, valued at billions of dollars annually.
Strategic Significance
Santander’s expansion into Mexico highlights the region’s untapped potential. Latin America is a burgeoning market for fintech, driven by increasing smartphone penetration, a youthful demographic, and demand for accessible financial services.
Challenges on the Horizon
While Mexico offers immense opportunities, regulatory complexities and market competition from local players like Clip and Konfío pose significant challenges. Santander will need to blend its global expertise with local adaptability to succeed in this dynamic market.
2024 Global Fintech Awards: Spotlighting Excellence
Source: PRNewswire
Benzinga has announced the winners of the 2024 Global Fintech Awards, honoring companies and individuals driving innovation in financial technology. This year’s winners spanned categories like blockchain, artificial intelligence, and payment solutions.
Recognizing Industry Leaders
Awards like these highlight the collaborative spirit and entrepreneurial drive fueling fintech growth. Recognizing trailblazers not only motivates incumbents but also inspires startups to push the boundaries of innovation.
What It Means for the Ecosystem
The awards also bring attention to emerging technologies. Categories such as blockchain and AI signal the industry’s continued focus on leveraging cutting-edge tech for efficiency and scalability.
Commonwealth Central Credit Union Partners with Jack Henry
Source: FinTech Futures
Commonwealth Central Credit Union (CCCU) has announced a partnership with Jack Henry, a leading financial technology provider, for a comprehensive tech upgrade. The collaboration focuses on enhancing member experience through improved digital services.
Modernizing Member Experiences
Credit unions have often lagged behind major banks in adopting advanced digital solutions. By partnering with Jack Henry, CCCU aims to bridge this gap, offering members streamlined services such as mobile banking, automated lending, and personalized financial tools.
A Growing Trend
This partnership reflects a broader trend in the financial industry—credit unions and smaller banks embracing fintech to remain competitive. As customer expectations evolve, partnerships like this may become the norm rather than the exception.
Key Takeaways for the Fintech Industry
- Cybersecurity is Critical: The Finastra breach underscores the need for robust security measures.
- Innovation Drives Loyalty: PayPal’s revival of its Money Pooling feature highlights the importance of listening to customers.
- Regional Opportunities: Santander’s expansion into Mexico showcases the untapped potential of emerging markets.
- Recognition Matters: Awards like Benzinga’s provide valuable visibility for companies and individuals shaping the industry.
- Partnerships Foster Growth: Collaborations between credit unions and fintech companies signify a trend towards modernized financial solutions.
The post Fintech Pulse: Industry Updates, Innovations, and Strategic Moves appeared first on News, Events, Advertising Options.
The fintech sector continues its relentless drive toward innovation and market dominance. Today’s highlights include a record-breaking customer milestone for Revolut, groundbreaking fintech solutions for women in the EU, open entries for the PayTech Awards 2025, implications of political shifts on funding, and notable recognition at the US FinTech Awards.
Revolut Hits 50 Million Customers: A Global Fintech Giant’s Milestone
Source: Revolut
Revolut, the UK-based financial super app, has achieved a monumental feat: surpassing 50 million customers worldwide. This milestone underscores its position as a leader in the global fintech landscape, furthering its ambition to create the world’s first truly global bank.
Key to this success has been Revolut’s strategy of expanding its offerings, from banking to travel and crypto services, all within a seamless user experience. The company’s recent ventures into emerging markets such as Latin America and Asia demonstrate its intent to bridge financial services gaps while retaining competitive differentiation through technology.
This milestone is not just a triumph for Revolut but a signal of fintech’s capacity to redefine traditional banking. It reinforces the narrative that digital-first strategies, customer-centric innovation, and international scalability can challenge long-standing financial institutions.
PayTech Awards 2025: Celebrating Excellence in Innovation
Source: FinTech Futures
The PayTech Awards 2025 are officially open for entries, promising to spotlight the brightest minds and most innovative projects in the payment technology sector. These awards are a testament to the industry’s commitment to advancing secure, seamless, and scalable payment systems.
This year, the focus is on emerging technologies that redefine how businesses and consumers interact financially. Categories will recognize achievements across multiple domains, including sustainability in payments, AI-driven solutions, and partnerships that push boundaries.
As fintech companies prepare their entries, the awards provide a timely reminder of the sector’s ongoing evolution and the collaborative efforts required to achieve meaningful breakthroughs.
U.S. Politics and the Fintech Sector: A New Era of Funding?
Source: American Banker
The U.S. fintech sector might witness an infusion of optimism as speculation about a second Trump presidency gains momentum. The Trump-era policies of deregulation and venture capital encouragement are remembered as catalysts for unprecedented fintech growth during his first term.
While it remains uncertain how regulatory landscapes will shift, the possibility of a more relaxed approach toward fintech compliance could rejuvenate funding inflows. Investors and startups alike are watching closely, weighing the potential benefits against long-term risks tied to reduced oversight.
A politically charged backdrop often spells volatility, but for fintech, it may also spell opportunity. Preparing to adapt quickly will be crucial for startups and established players in the face of any regulatory pivot.
Klara AI and Unlimit: Addressing the €1.3 Trillion Female Economy
Source: FF News
Klara AI has teamed up with Unlimit to launch a fintech solution aimed at empowering women across the EU. This collaboration targets the €1.3 trillion female economy by addressing the unique financial needs of women entrepreneurs and consumers.
The solution promises to integrate AI-powered tools with streamlined financial management services, enabling users to access credit, manage investments, and scale businesses effectively. By tailoring services to the underserved female demographic, the partnership hopes to drive financial inclusion and support economic growth.
This initiative stands as a blueprint for fintechs exploring niche markets, proving that innovation tailored to specific segments can yield transformative results.
Autire: Accounting Tech of the Year at US FinTech Awards
Source: Business Wire
Autire, a rising star in financial technology, has been crowned ‘Accounting Tech of the Year’ at the US FinTech Awards 2024. The award recognizes Autire’s ability to blend cutting-edge AI with intuitive user interfaces, delivering unparalleled accounting solutions for businesses of all sizes.
Autire’s platform has gained traction for automating complex accounting tasks, ensuring compliance, and delivering actionable insights through real-time analytics. Its emphasis on reducing administrative burdens for SMEs has been particularly impactful, enabling entrepreneurs to focus on growth rather than bookkeeping.
The recognition not only cements Autire’s reputation but also highlights the role of AI-driven accounting solutions in reshaping business operations globally.
Final Thoughts: A Fintech Revolution in Full Swing
From customer milestones to policy-driven opportunities, the fintech ecosystem is in constant evolution. Revolut’s ascent to 50 million users signals growing consumer trust in digital platforms. The PayTech Awards continue to inspire innovation, while political shifts could redefine the regulatory landscape. Initiatives like Klara AI and Unlimit emphasize the power of targeted solutions, and companies like Autire show how niche technologies can achieve broad impact.
The next phase of fintech growth will likely hinge on inclusivity, adaptability, and innovation—pillars that today’s news stories exemplify.
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