“Incredible Secures $1M in Pre-Seed Funding to Revolutionize Credit Card Debt Repayment”

Incredible, a fintech pioneering the use of cutting-edge open banking technology to enhance credit card debt repayment efficiency, has successfully raised $1 million in a pre-seed funding round, attracting investment from renowned industry figures.

Founded in 2022, Incredible leverages the synergy of open banking technology and artificial intelligence to empower users in tracking, managing, and minimizing the costs associated with their borrowing activities. The recent funding round, which saw participation from former Plaid executive Keith Grose and esteemed angel investor Mark Ransford, marks a significant milestone for the company.

Utilizing its innovative platform, Incredible assists users in optimizing their credit card repayment strategies by harnessing the power of open banking technology to analyze their financial data. By identifying each user’s ideal monthly credit card repayment allocation, the platform employs Variable Recurring Payments (VRPs) — an expedited version of direct debits facilitated by open banking — to streamline payment processes.

Founder Yaseen Rostom emphasizes the pressing need for effective tools to manage diverse forms of borrowing, ranging from credit cards to personal loans and car finance. Targeting time-constrained millennials grappling with financial management challenges, Incredible aims to fill this critical gap in the market.

Despite facing competition from entities like Updraft and debt consolidation firms, as well as credit score providers like ClearScore, Incredible has rapidly gained traction, boasting over 1,500 customers within a short timeframe. Headquartered in the UK and comprising a dedicated team of four professionals, Incredible’s user-friendly app is readily accessible for download on both Google and Apple platforms.

Looking ahead, Rostom reveals the fintech’s ambitious plans to expand its offerings beyond credit cards, extending its expertise to encompass the management of personal loans and car finance.

Source: tech.eu

“Bankart Chooses Diebold Nixdorf’s Vynamic Transaction Middleware for Enhanced Payment Processing”

Bankart, a prominent financial institution based in Slovenia, is undergoing a significant transformation by transitioning its payment processing services from ACI Worldwide’s Base24 to Diebold Nixdorf’s innovative Vynamic Transaction Middleware solution. This strategic collaboration underscores Bankart’s commitment to optimizing its payment processing capabilities and delivering enhanced services to its clientele.

Through this partnership, Bankart will leverage Diebold Nixdorf’s cloud-based platform to streamline various aspects of payment processing, including issuing, acquiring, transaction switching, and e-commerce services. Serving a network of 20 banks across Central and Eastern Europe (CEE), Bankart collectively processes over 600 million transactions annually, highlighting the scale and importance of this initiative.

Diebold Nixdorf’s Vynamic Transaction Middleware is designed to provide Bankart with the flexibility and scalability required to develop and deploy new products and services efficiently. Leveraging smart routing, graphical interfaces, and low-code modeling, the platform operates autonomously from Bankart’s core systems, enabling seamless integration across multiple banking channels.

Aleksander Kurtevski, Managing Director at Bankart, expresses confidence in Diebold Nixdorf’s Vynamic Transaction Middleware, emphasizing its ability to tailor payment processing solutions to meet diverse customer needs. He underscores the platform’s role in creating an open and connected digital environment where payments play a central role in everyday life.

As Bankart embarks on a multi-phased migration to implement the Vynamic Transaction Middleware platform, Kurtevski reassures customers that the transition process will be conducted with minimal disruption. This strategic initiative underscores Bankart’s commitment to innovation and excellence in payment processing services.

Source: fintechfutures.com

Kunoh Kim, a seasoned fintech professional, has been appointed as the new CEO of Hyosung Americas, headquartered in Irving. Known globally for its innovative ATM hardware, software, and services catering to financial and retail sectors, Hyosung Americas welcomes Kim as the successor to Sang Hwan Kweon, who was promoted from Chief Operating Officer to CEO in September 2022 following the retirement of former CEO Hee-Eun Ahn.

Nancy Gail Daniels, Chief Revenue Officer of Hyosung Americas, expressed enthusiasm for Kim’s appointment, emphasizing his intelligence, business acumen, and recent success in driving fintech and retail technology ventures in Korea. She anticipates that Kim’s expertise will significantly benefit Hyosung Americas’ growing business in North America.

Having relocated to its Las Colinas headquarters in late 2020, Hyosung Americas has been at the forefront of innovation, launching a new line of ATMs in July 2022 designed for future needs, including cash, crypto, and gaming. The company’s commitment to innovation is further highlighted by the introduction of its “Hyosung Innovue” brand identity and the rollout of Cajera Series ATMs capable of handling bill payments, crypto transactions, and cash recycling.

With over 26 years of leadership experience in fintech innovation, Kim has played a pivotal role in advancing Hyosung’s integrated payment solutions and leveraging big data platforms. Before joining Hyosung Americas, Kim served in leadership roles at Hyosung TNS and Hyosung Corp., where he spearheaded the launch of retail solution products such as self-order and self-checkout kiosks.

Expressing gratitude for the warm reception from the Hyosung Americas team, Kim affirmed his commitment to contributing to the company’s success in North America. He expressed confidence in achieving great outcomes together with the talented team at Hyosung Americas.

Michael Graham, Chief Product Officer of Hyosung Americas, echoed Daniels’ sentiments, expressing confidence in Kim’s leadership and his ability to enhance the company’s commitment to delivering exceptional customer experiences.

As the North American subsidiary of South Korea-based Hyosung TNS, Inc., Hyosung Americas prides itself on being a leading provider of cash management and payments platform services globally. Since its entry into the North American market in 1998, the company has evolved from being the largest provider of ATMs in the United States to offering innovative and transformative technology solutions across the cash management and payments spectrum.

Source: dallasinnovates.com