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Rapyd Appoints Sarel Tal to Head Strategic Expansion Across EMEA

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Vlad Poptamas

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Rapyd, a global Fintech-as-a-Service provider has appointed Sarel Tal as Vice President – EMEA to drive the expansion of its integrated payments, commerce and financial services platform across the region. The appointment follows Rapyd’s recent $100M Series C funding announcement led by Oak HC/FT and Tiger Global

Tal will focus on driving the expansion of the Rapyd Global Payments Network and bringing businesses looking to expand local and cross-border payments onto its Fintech-as-a-Service platform. The Rapyd technology stack removes the back-end complexities of cross-border commerce while providing local payment expertise so enterprise, B2C, and B2B customers can focus their resources on business growth and expansion instead of building and managing infrastructure. A serial entrepreneur Tal brings more than two decades of experience building and growing payments and technology businesses. Prior to joining Rapyd, he was the Founder and CEO of AlgoCharge, a payment processing Fintech, and CEO of Allcharge, a global Internet payment service provider.

With this newly added leadership and funding, Rapyd will further develop its global payments network to help businesses further penetrate local markets and seize cross-border growth opportunities by providing more than four billion consumers with access to over 900 local payment methods. The Fintech-as-a-Service platform also simplifies the process for regulatory, compliance and risk management services that businesses require to drive global growth. The company also plans to hire resources across several critical areas including engineering, client services, compliance, and risk management.

“We continue to see tremendous demand for more comprehensive solutions to both non-card and card-based solutions that support local and cross-border use cases. The EMEA market is complex and has unique challenges that Fintechs like Rapyd can solve to help power growth. I am thrilled to welcome Sarel to the company,” said Arik Shtilman, CEO of Rapyd. “His wealth of business experience in scaling payments companies will be invaluable as we navigate the next steps in our expansion. He brings a valuable combination of knowledge and strategic vision needed to further achieve Rapyd’s regional and global growth goals.”

Mr. Tal stated “I have been actively working in the Fintech ecosystem for the last two decades, leading the growth of several global payment companies.  While the Fintech industry is still very focused on a single-service silo approach, Rapyd is undertaking the challenge to introduce a revolutionary Fintech-as-a-Service approach, offering our customers all the needed Fintech services accessible from one API with single settlement and reconciliation. The EMEA region represents an even greater challenge as we need to attend to the diversified needs across the region. In order for us to meet these needs, we are providing Open Banking and PSD2 Services like Payment Initiation Services (PIS) and Account Information Services (AIS) in the EU while at the same enabling financial inclusion services across the developing economies of the region including mobile wallets and support of local payment methods and local currencies.”

Mr. Tal further commented “We are also committed to continuing to support our Gig-Economy and global marketplace partners with their global expansion efforts by providing our multicurrency and FX services that fully integrate into our e-wallet solution. Rapyd is poised to scale in the EMEA region, supporting both inter and intra-region business opportunities. I am looking forward to expanding our reach into additional industries while Rapyd continues to lead innovation in the global Fintech ecosystem.”

 

SOURCE Rapyd

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Broadridge Brings Together Wealth Business Under Michael Alexander

Vlad Poptamas

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Broadridge Financial Solutions, Inc. (NYSE: BR), a global Fintech leader and part of the S&P 500® Index, today announced that Michael Alexander has been appointed President, Wealth Management. In this newly created position, he will be responsible for bringing together Broadridge’s Wealth solutions into an integrated, market-leading Wealth Management business that will uniquely address Wealth Management firms’ need to transform their technology and business models. Mr. Alexander will report directly to Tom Carey, President of Global Technology and Operations.

“Mike is a recognized leader in the financial services industry and has a passion for creating leading-edge, SaaS-based wealth management solutions,” said Mr. Carey. “Mike will drive Broadridge’s efforts to enhance the advisor and client experience through a single platform that will be a foundation for the industry.”

As President of Broadridge’s Wealth Management business, Mr. Alexander will take leadership of the Broadridge Wealth Platform, the next-generation open platform that is creating a modern, best-in-class industry-level wealth management technology solution. This platform, which is at the center of a recently announced sale to UBS, enables wealth managers to drive their business to the next level while mutualizing investments in technology, innovation and security. With the Broadridge Wealth Platform, firms will be able to deploy an integrated front-, middle-, and back-office solution that optimizes Financial Advisor productivity, creates a richer client experience and digitizes enterprise-wide operationsBroadridge Wealth Management also offers market-leading component solutions for Advisor Websites, Data Aggregation, Performance Reporting, Corporate Actions, and back- and middle-office Managed Services, among others.

Since joining Broadridge in 2006, Mr. Alexander has taken on roles of increasing responsibility in both technology platforms and managed services. In these roles, he has led numerous complex client engagements and successful acquisitions.

Prior to joining Broadridge, Mr. Alexander was Senior Vice President of Operations at Charles Schwab. He is a member of the SIFMA Operations and Technology Steering Committee.

 

SOURCE Broadridge Financial Solutions, Inc.

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Bajaj Housing Finance Limited Bags the BFSI Digital Innovation Awards 2020 for Cloud Solutions

Vlad Poptamas

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Bajaj Housing Finance Limited (BHFL), a 100% subsidiary of Bajaj Finance Limited, has won the ‘BFSI Digital Innovation Award’ for Cloud Solutions at the recently held Express BFSI Technology Conclave and Awards 2020.

Organised by the Express Computer, an IT business magazine from the Indian Express Group, the BFSI Technology Conclave and Awards, is one of the largest congregation of IT decision-makers, senior executives and partners in India. The event, held in Pune from January 24th-25th, 2020 witnessed the best from the BFSI sector participate as speakers and share their views on the way ahead for one of the biggest financial markets in the world.

The conclave ended with the BFSI Digital Innovation Awards which were given away to Indian Banks or Indian subsidiaries of MNC BFSI institutions in the BFSI industry that demonstrate the innovative use of a particular technology or a combination of technologies for distinct business benefit. There were 13 distinct categories – like Big Data, Enterprise Mobility, Data Center, Cloud, Artificial Intelligence, Enterprise Security, Blockchain and Enterprise Application among others.

The participants were judged on their effectiveness of deploying a completely new solution or innovative use of existing technology to gain a competitive edge, improve operations, become more responsive to customers and partners or, simply, to add to the top or bottom line.

Sharing his delight at the occasion of winning the award for excellence in Cloud, Atul Jain, Chief Executive Officer- Bajaj Housing Finance Limited said, “It is indeed a proud moment for all of us at BHFL and would like to congratulate the entire team for helping us achieve this prestigious recognition at the Express BFSI Digital Innovation Awards 2020. Since inception, our core mission has always revolved around providing the best experience for our customers through innovation and customer engagement.”

 

SOURCE Bajaj Housing Finance Limited

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LiteLink Technologies Subsidiary uBUCK Technologies Completes Second Tranche of Private Placement to Fuel Growth

Vlad Poptamas

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LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(OTC:LLNKF)(FRA:C0B), a key player in logistics platforms and payment solutions, is pleased to announce that its subsidiary uBUCK Technologies SEZC (“uBUCK”) has closed the second tranche of a non-brokered, non-dilutive private placement previously announced on September 23, 2019.

Under the second tranche, uBUCK issued 1,000,000 preferred shares at a price of US$0.50 per share for gross proceeds of US$500,000. Under the terms of the offering, uBUCK expects an additional minimum investment of US$1,500,000 will be made in exchange for 3,000,000 preferred shares at a price of US$0.50 per share by June 30, 2020.  The investor will also have the option to invest an additional US$2,500,000 for a total of 8,000,000 preferred shares at a price of US$0.50 per share by September 30, 2021.

Along with the first tranche closing announced September 30, 2019, uBUCK has now raised a total of US$900,000.

uBUCK intends to use the gross proceeds of the private placement to complete the development of the uBUCK and Streambucks digital wallets, accelerate growth, increase customer acquisitions, and conduct additional product testing.

Because the private placement was made directly into a subsidiary of LiteLink, it is non-dilutive to LiteLink shareholders. The transaction is subject to all necessary regulatory and stock exchange approval.

The preferred shares come with first rights to dividends of 6% (of the amount invested) and first claims to assets up to the investment in case of liquidation. Upon closing of this tranche, the investor will own 3.6% of uBUCK.

 

SOURCE LiteLink Technologies Inc.

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