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OMNIO GROUP GRANTED ISSUER STATUS BY VISA

Leading banking and payment services provider Omnio partners globally with Visa

Omnio Group, a leading global fintech formed from the merger of Payment Cloud Technologies and Tuxedo Money Solutions, has been granted principal membership by Visa.

Through the Visa agreement, Omnio Group is able to offer its customers global access to all of Visa’s products including bank identification number (BIN) sponsorship across Europe for prepaid and debit programmes. This builds on Omnio’s existing expertise by enabling it to offer a full value chain to its customers. As well as being able to issue Visa branded cards, Omnio is incorporating Visa’s extensive product range into its award-winning payment & banking platforms.

This essentially optimises Omnio Group’s ability to manage the full project life cycle by having direct oversight of card issuance. What’s more, the membership will allow Omnio to further strengthen its customer offering by helping to increase the speed of implementation, reducing operational costs and enabling the delivery of global Fintech solutions.

This change in status is already helping Omnio further enhance the support it offers its customers, such as Monmouthshire Building Society. In partnership with Unisys, Omnio powers the organisation to take a lead in the building society sector by releasing a full digital current account. The online banking platform is delivered by Unisys’ omnichannel platform, Elevate, and Omnio plays an integral role in the ecosystem, supporting the platform’s account capabilities which now includes the streamlined Visa process.

Speaking about the newly appointed issuer status, Hugh Kingdon, Head of Fintech, UK & Ireland at Visa explained:“We are pleased to see Omnio Group going from strength to strength and now that they have full access to all of our products and expertise, we are excited to see how the business develops further. This is another good example of how Visa is supporting fintechs to navigate the payments landscape and achieve their growth ambitions, both at speed and scale.” 

Suzy Karger, CMO at Omnio, added: “We are excited to be growing our long-term relationship with Visa, strengthening further our position in the market as a Fintech leader. Becoming a Visa Issuer is a natural step in our partnership and we’re now able to offer our customers around the world even more flexible and reliable solutions.  Both Omnio and Visa are investing in the creation of new products and capabilities and by working together we can both accelerate the creation of new propositions and ensure we can deliver quickly and securely on a global basis.”

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EIS LAUNCHES IN THE UK AS INSURANCE COMPANIES LOOK BEYOND PROTECTION TO DELIVER MORE VALUE TO CONSUMERS

Leading digital insurance platform expands global footprint to meet UK insurance market demands

EIS, a core and digital platform provider for insurers, today announces its entry to the UK market. The San Francisco-based insurtech has launched its coretech platform in the UK to help insurers offer a new generation of insurance products and services, in response to changing consumer habits and an evolving regulatory landscape.

“For the Insurance company of the future, providing the right cover and good service to policyholders are table stakes,” says Tony Grosso, Head of Marketing at EIS, “The real winners will be those who can move beyond protection and operate in an ecosystem of value with other, non-insurance providers.”

In fact, a recent EIS poll of UK insurance providers and insurtechs showed that 1 in 3 respondents identified “moving beyond protection to deliver more value to customers” as the most important objective for the insurer of the future.

In response to the wave of innovation in the UK insurance sector, 75% of insurers are leaving legacy technology behind in favour of more dynamic and flexible ‘as a service’ models. EIS aims to help UK carriers with the introduction of its coretech platform, which unlike modern legacy technology, allows insurers to rapidly create and deploy new and innovative products and services via open APIs. This new, flexible platform allows insurance companies to operate seamlessly with insurtechs and other providers to deliver lifestyle solutions beyond protection to consumers.

With customers at the heart of the EIS platform, insurers globally can now take a personalised approach to their customer experience by recognising and engaging customers as a whole, across all their insurance needs, rather than individual policy numbers.

“The agility and flexibility of the platform will be invaluable to UK insurers as they look to adapt to and sync regulatory changes post-Brexit and the demands of the market,” says Tony. EIS is already helping forward-thinking insurance businesses in EMEA, North America and APAC.

“As we enter the UK market we see high demand for innovative approaches to insurance. More so than other markets, in fact,” said Olivier Vayesse, Senior Vice President, EMEA at EIS. “EIS been resourceful in responding to this demand. One example is a local initiative where we are  developing an intelligent digital ecosystem  to enable insurers  to take a more radical approach to transformation, offering a greenfield platform for transitioning away from legacy technology.”

“EIS is committed to expansion in the UK market, creating jobs and revenue opportunities, in conjunction with our partner program,” Olivier continued.

 

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TINK TECHNOLOGY ENABLES MULTI-BANKING FOR NORDEA’S NORDIC APP CUSTOMERS

Tink’s account aggregation, data enrichment and personal financial management technologies have been integrated into Nordea’s mobile banking app to deliver a personalised financial overview for the bank’s customers in Sweden, Norway, Finland and Denmark. The new app features will be rolled out gradually by Nordea in the Nordic markets — starting with Sweden, today.

 

Open banking platform Tink and the leading Nordic bank Nordea have worked together to add new multi-banking features to Nordea’s mobile banking app. The new features will make it possible for Nordea’s app users to get a comprehensive overview of their finances in one place, including mortgage, savings, loans and current account — even from other banks.

From today, these new features will be available to customers in Sweden using Nordea’s app, with the same capabilities due to launch in Norway, Finland and Denmark in the coming months. Additional features based on Tink’s open banking technologies — including the possibility for Nordea’s app users to categorise costs, analyse their spending and set budgets— will be added to the app later this year.

 

Anders Nicander, Head of One Digital, Nordea, said: “Nordea is dedicated to providing great digital experiences, and we want to be seen as a relevant partner to our customers. As part of that, Nordea is happy to see that our customer experience in the Nordea Mobile App is improved through our collaboration with Tink. Providing Swedish customers with a more complete financial overview is our first delivery together with Tink. Now we look forward to bringing this to our other markets and at the same time develop other exciting functionalities based on Tink technology.”

 

Daniel Kjellén, co-founder and CEO of Tink, added: “Our open banking technology has already helped millions of bank customers across Europe to get a better overview and understanding of their finances. We are very proud to now make our technology available to almost 11 million bank customers in Sweden, Norway, Finland and Denmark through our partnership with Nordea.”

Since launching in Sweden in 2012, Tink has been dedicated to enabling banks, fintechs and startups to develop data-driven financial services. Through one API, Tink allows customers to access aggregated financial data, initiate payments, enrich transactions and build personal finance management tools. Today, Tink has more than 270 employees globally and is Europe’s leading open banking platform — enabling customers to connect to more than 2,500 banks that reach over 250 million bank customers across Europe.

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