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Santander invests £350 million in Ebury, a best-in-class trade and FX facilitator for SMEs, to strengthen its Global Trade Services offer

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Banco Santander today announced a strategic investment in Ebury, the best-in-class trade and foreign exchange facilitator for small and medium-sized companies, for £350 million (approximately $450 million and €400 million). The investment, which fits Santander’s digital strategy of accelerating growth through new ventures, will strengthen its Global Trade Services offer and further consolidate Santander’s position as the bank of choice for SMEs trading or aspiring to trade internationally in its markets across Europe and the Americas, and in Asia later on. Ebury, which operates in 19 countries and 140 currencies, has generated consistent average annual revenue growth of 40% in the last three years.

UK-based Ebury operates on a unique worldwide distribution platform underpinned by a data driven business model and offers best-in-class customer experience and product capabilities. The partnership will enable Ebury to improve its value proposition, supported by a leading financial institution. Santander serves more than four million SME clients worldwide, of which more than 200,000 do international business.

Under the terms of the transaction, Santander will acquire 50.1% of Ebury for £350m, of which £70m will be new primary equity (approximately $90 million and €80 million) to support Ebury’s plans to enter new markets in Latin America and Asia. The bank expects a return on invested capital (RoIC) higher than 25% in 2024. Ebury’s existing investors, including co-founders and management, will reinvest in the transaction and the current management team will remain leading Ebury’s expansion.

Ana Botín, Group Executive Chairman of Banco Santander, said: “Small and medium-sized businesses are a major engine of growth around the world, creating new jobs and contributing up to 60% of total employment and up to 40% of national GDP in emerging economies. SMEs are becoming increasingly global and Santander is the best positioned bank to play a leading role to help them access global trade finance. By partnering with Ebury, Santander will deliver faster and more efficient products and services for SMEs, previously only accessible to larger corporates.”

Juan Lobato and Salvador García, co-founders of Ebury, said: “Combining a big bank with nimble fintech means we can offer our clients the best of both worlds: they can benefit from our technology and high-quality service safe in the knowledge that they are counterparty to one of the world most important financial institutions. It is an exciting time for Ebury, we have just completed our first acquisition, and the new capital from Santander and our existing shareholders will allow us to invest in new ways to serve SMEs trading internationally and continue the growth in our business while keeping our entrepreneurial culture.”

Ebury is a specialist player offering a full suite of foreign exchange and international payments services with very competitive pricing and flexibility. It has a wide customer base including SMEs, mid-corporates, banking partners and non-banking financial institution partners. Ebury, with 900 employees working in 22 offices in 19 countries, offers a state-of-the-art proven technology platform and a unique culture supported by Ebury’s co-founders, who have raised over $134 million since inception in 2009. In 2018, the company processed $16.7 billion in payments for their 43,000 clients.

Ebury will be able to leverage Santander’s capabilities, brand and correspondent bank network to establish new bank partnerships. Santander will take further advantage of the growth opportunity in SMEs cross-border transactions.

Sergio RialSantander Brasil’s CEO and executive sponsor of Santander’s Global Trade Services business, will join Ebury’s board as chairman. He will work closely with the existing Ebury team, led by Juan Lobato and Salvador García.

Ebury will continue operating as an independent unit, supported by Santander following its extensive experience in leveraging its Group scale to grow and develop the companies it has invested in, such as Getnet, the bank’s Brazilian subsidiary. Getnet, already a success in Brazil, is helping build the Global Merchant Services platform, initially starting in Mexico before expanding across Latin America and Europe. Santander works with 1.2 million merchants worldwide, with turnover of €150 billion, making Santander a top 10 global acquirer in the world by volume.

The bank is offering SMEs greater options to facilitate their growth and internationalization. Santander, along with other international banks, earlier this month officially launched the Trade Club Alliance, a unique global network of banks aiming to make international trade simpler with an innovative digital platform.

Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in Europe and the Americas, and is the largest bank in the euro zone by market capitalization. Its purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising over €120 billion in green financing between 2019 and 2025, as well as financially empowering more than 10 million people over the same period. At the end of September 2019, Banco Santander had EUR 1.04 trillion in customer funds, 144 million customers, of which 21 million are loyal and 36.2 million are digital (51% of active customers), 12,700 branches and 200,000 employees. Banco Santander made underlying profit of EUR 6,180 million in the first nine months of 2019, an increase of 2% compared to the same period the previous year.

 

SOURCE The Santander Group

Fintech

Personetics Empowers Banks With Self-driving Finance™ on Oracle Cloud

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Personetics, the leading provider of AI-powered personalization and customer financial wellness solutions used by the world’s top banks and a Silver level member of Oracle PartnerNetwork (OPN), today announced that its Self-Driving Finance™ platform has achieved Powered by Oracle Cloud status and is now available in the Oracle Cloud Marketplace.

Leading banks around the world are using the Personetics Self-Driving Finance engagement platform to provide retail, small business and wealth management customers with varying degrees of guidance in managing their finances – highlighting events that are most important to each person at any moment, recommending next best actions, and invoking automated programs that help customers simplify day-to-day banking and improve their financial wellbeing.

The Oracle Cloud Marketplace is a one-stop-shop for Oracle customers seeking trusted business applications and service providers offering unique business solutions, including those that extend Oracle Cloud Applications. Oracle Cloud is a Generation 2 enterprise cloud that delivers massive, non-variable performance and next-generation security across a comprehensive portfolio of services including SaaS, application development, application hosting, and business analytics. Customers get access to leading compute, storage, data management, integration, security, HPC, artificial intelligence (AI), and blockchain services to augment and modernize their critical workloads. Oracle Cloud runs Oracle Autonomous Database, the industry’s first and only self-driving database.

The integration of Personetics Self-Driving Finance with Oracle Open Banking APIs allows any bank to leverage Oracle’s extensive platform and open banking capabilities to deliver tailored insights, advice, and automated programs that differentiate the way they engage and serve customers.

Self-Driving Finance-as-a-Service is now available on Oracle Cloud Infrastructure, providing additional benefits to banks:

  • Built-in security: Fully contained solution available in bank-owned private cloud with built-in security, data encryption, client data isolation, key vault, and auditing that adheres to financial services security and compliance requirements
  • Enabling quicker time-to-market: Ready-to-deploy solution with easy setup and upgrades using Kubernetes
  • On-demand scalability and pricing: On-demand resource provisioning to scale out from market pilot to millions of customers and extend across geographies while optimizing price to performance metrics
  • Agility to innovate: Ability to quickly test and iterate on new product offerings and new functionality

“Delivering Self-Driving Finance-as-a-Service on Oracle Cloud accelerates the transformation towards a new standard of banking experience which is highly personalized, proactively engaging the customer, and focused on the customer’s financial wellbeing,” said Dorel Blitz, Personetics’ VP Strategy and Business Development. “We look forward to leveraging the power of Oracle Cloud to help additional banks move faster in this direction. Beyond using Oracle Cloud Infrastructure, this relationship lays the foundation for future integration with Oracle’s large portfolio of retail banking and customer experience (Oracle CX) solutions, SME finance (NetSuite) applications and comprehensive PaaS stack – allowing us to continuously enhance our offering and innovate with Oracle to provide mutual value to our joint customer base.”

Personetics is also a participant in Oracle’s Fintech Innovation Initiative, a collaborative effort that brings together major financial services providers and innovative Fintechs to work on pressing digital innovation challenges facing the world’s largest banks.

Powered by Oracle Cloud status recognizes OPN member solutions that have been tested or verified to run on Oracle Cloud Infrastructure. This achievement offers customers confidence that the partner’s application is supported by the Oracle Cloud Infrastructure SLA, enabling full access and control over their cloud infrastructure services as well as consistent performance.

The Oracle Cloud Marketplace offers an intuitive user interface to browse and search for available applications and services, as well as user ratings and reviews to help customers determine the best business solutions for their organization. With its new automated application installation features, customers can easily deploy provider business applications from a centralized cloud interface.

 

SOURCE Personetics

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Prime Minister of the Republic of Singapore Intrigued by WeBank’s Fintech-powered Services at SFF x SWITCH

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WeBank showcased a series of new generation fintech capabilities at the Singapore Fintech Festival. On Nov. 12, Lee Hsien Loong, Prime Minister of the Republic of Singapore, visited WeBank’s booth and communicated with Henry Ma, Executive Vice President and Chief Information Officer of WeBank. Henry introduced how WeBank adopted fintech capabilities in the areas of ABCD (AI, blockchain, cloud computing and big data) to promote financial inclusion as China’s first digital bank. He suggested that by leveraging these technologies, WeBank was enabled to increase operational efficiency, reduce costs, and scale faster. Then Henry intrigued the Prime Minister with a demonstration of real user journey of WeBank’s fintech-powered microloan service.

As a world’s leading digital bank, WeBank reaches out for international collaborations on promoting financial inclusion through fintech. Alan Ko, Head of Fintech Innovation (international) at WeBank, addressed WeBank’s open mindset towards promoting digital financial inclusion at the festival. “Fintech holds the potential to revolutionize future financial services, that is why our fintech solutions have garnered so much attention here at the event, especially our showcases in fields like AI, blockchain, cloud computing and big data. As a technology innovator in the world’s leading digital bank league, we are actively looking for partnership and collaboration to take a step further in promoting financial inclusion through new technologies.

To provide partners more effective and low-cost approaches to tackle fintech problems in their businesses, WeBank’s professionals presented solutions from four major areas-AI, blockchain, cloud computing and big data:

In terms of AI, WeBank is building a series of advanced AI applications for financial inclusion scale-up and technology-driven financial ecosystem. One of them is Federated AI Technology Enabler (FATE), China’s first industrial level federated learning platform open sourced by WeBank. FATE helps businesses and organizations build AI models effectively and collaboratively, by using data in accordance with user privacy protection, data security, data confidentiality and government regulations. So far, it has already been applied in credit, insurance, supervision and retails.

WeBank also provides comprehensive blockchain solutions including the infra platform FISCO BCOS, middleware kits WeBase, and applications including WeIdentity and WeEvent:

  • FISCO BCOS (Be Credible, Open & Secure) is an open consortium chain platform, built with an aim to facilitate partnerships and inspire collaboration amongst businesses. It is the largest open source consortium chain ecosystem in China with 10,000+ members (500+ enterprise members). And it has launched more than 60 applications in interbank reconciliation, tourism finance, supply chain finance, judiciary services, copyright protection, entertainment & gaming, and social management & public services.
  • WeBASE (WeBank Blockchain Application Software Extension) is a bridge connecting applications with the blockchain infrastructure.
  • WeIdentity is an open source solution which offers a safe and efficient solution for identity authentication and data cooperation based on blockchain.
  • WeEvent is a distributed event-driven architecture developed for cross-institutional and cross-platform event notifications in loosely coupled systems that support the Collaborative Business models.

WeBank adopted and reinvented many cloud-based technologies including Fintech Sandbox and WeCube. WeBank FinTech Sandbox is a virtual innovation lab designed for individual developers, as well as technology and business partners. It provides a testing ground to build, demonstrate, share, augment and test cutting edge financial technologies, reference implementations as well as various other business applications and solutions. We encourage fintech innovators to build their own disruptive business models based on technologies which have been tested and proven at scale and applicable for a multitude of use cases including virtual banking, supply chain finance, mobile payment, smart retail, and others.

WeCube tackles the challenges of managing a fully distributed architecture require smart ops & maintenance tools for higher efficiency. It is the all-in-one tool to address the issue as being an open-sourced and self-evolving working platform.

In the big data area, WeBank extracts the essence of its financial-grade data technologies and designed WeDataSphere. It is a platform with financial grade computing, data storage and exchange, and machine learning capabilities developed based on various open-source components like Hadoop, spark, HBase, KubeFlow and FFDL. Enormous enhancements and reinforcement efforts were made by WeBank on top of the open-source components to tackle financial application issues related to security, performance, high availability, and traceability.

To find more WeBank Fintech solutions, follow their official website at fintech.webank.com/en.

 

SOURCE WeBank

 

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Fintech

Crypto.com Partners With Xfers

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Users can buy and sell crypto in SGD instantly with Xfers Wallet

 

Crypto.com, the pioneering payments and cryptocurrency platform, announced today at the Singapore Fintech Festival that it is partnering with Xfers, the Singapore-based payment processing gateway, to enable Crypto.com users to buy and sell crypto in SGD by December 2019.

With this Xfers partnership, Crypto.com users will be able to instantly buy crypto (including BTC, ETH, LTC, XRP, MCO, CRO) in SGD. By facilitating the purchase and selling of cryptocurrencies with fiat currencies, the partnership further accelerates the adoption of cryptocurrencies in Singapore.

Crypto.com also plans to support StraitsX, Xfers’ pilot stablecoin initiative, and XSGD, its Singapore Dollar-backed stablecoin. Crypto.com will offer XSGD as part of Crypto.com Pay, its mobile payment solution enabling instant and zero fees settlement between customers and merchants.

Tianwei Liu, Co-founder and CEO of Xfers said: “Partnering with a leading platform such as Crypto.com is essential to driving our vision of building an open payments infrastructure for the region. This combined pilot to adopt XSGD for MCO Card top-up and for Crypto.com spend adds to our strong foundation for the initiative, as StraitsX aims to be the common ledger for digital assets and payments- enabling transparency for payments.”

Kris Marszalek, Co-founder and CEO of Crypto.com said: “We are pleased to partner with Xfers first to enable crypto purchases in SGD and then on the strategic stablecoin initiatives surrounding StraitsX and XSGD. Both solutions will increase the utility of the Crypto.com platform for our Singapore community.”

SOURCE Crypto.com

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