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TRADECORE LAUNCHES NEW PLATFORM IN THE UK TO HELP FINTECH START-UPS INNOVATE AND GET TO MARKET FASTER

  • The platform provides a one-stop shop for the technology and ecosystem needed to build and launch new fintech businesses, reducing time-to-market from months and years to a matter of weeks
  • Removing significant ecosystem complexity, regulatory and technology barriers to entry that blight many aspiring new fintech businesses
  • Ecosystem partners include ten category-leading fintechs such as Modulr, Truelayer and ComplyAdvantage to cover multiple verticals including investments and digital banking
  • The platform launches in the UK with two customers FlexInvest and OrbPay

 

Fast growth fintech, TradeCore, has launched its new platform in the UK, aimed at increasing the pace of innovation in the fintech industry. The platform can reduce time to market for new fintech businesses from months, or even years, down to weeks.

The platform was founded by CEO, Stefan Pajkovic, after witnessing what he calls the Fintech ‘spiral of death’; whereby fintechs fail to launch due to the complexity of the sector. It’s not uncommon for new fintechs to spend up to a year or more navigating complex regulatory or licensing hurdles; often then running out of money or losing relevance before they even get to market.

TradeCore changes this. The platform combines fintech infrastructure excellence to remove complex back-end processes to help fintechs launch quickly and effectively, taking the burden of regulatory responsibility so that its customers can focus on what really matters: customer acquisition and retention.

With more than ten key partner integrations, it will mean customers, for example, can access: payments powered by Modulr, including Bacs, Faster Payments, and SEPA, for euro payments; utilise category leading open banking infrastructure via Truelayer; and remain compliant through KYC and onboarding with ComplyAdvantage.

Customers have a single contract with TradeCore, along with a single price offering – meaning there is optimal pricing for the value added and no multiple billing points. Within this, TradeCore handles legal activity, making it transparent for customers, including billing, lengthy agreements and any problems that may occur with partnerships and leading vendors. It then integrates the wider payments ecosystem and handles ever-changing integrations which can be costly and hard to maintain.

 

Stefan Pajkovic, founder and CEO at TradeCore comments: “For too long fintechs have faced too many barriers to market in the form of regulation, compliance or costly processes to reach the market. This has stifled innovation, cost far too much money, and has had a detrimental effect on the ability of fintechs to move quickly. This had to change. And that’s what we plan to do with TradeCore. By partnering with some of the biggest names on the fintech scene, we’ve created a one-stop shop that’s secure, trusted and compliant; allowing fintechs to move quickly and with agility, and to launch products and services that can grow their customer base quickly.”

 

TradeCore’s platform provides:

  • Card Issuing: Issue Mastercard virtual and physical cards with compliance made easy
  • Investment: Access capital markets and market data vendors using TradeCore’s asset-class agnostic trading interface
  • Digital Banking: Use industry leading providers for payments, issues IBANs, monitor transactions through open banking and more
  • Crypto: Automate secure cryptocurrency dealings with full regulatory compliance
  • KYC: Optimise digital account opening strategy and create a modern onboarding experience
  • Infuse: Unlock powerful information about customers to maximise the ROI of a fintech’s users using TradeCore’s data platform

 

Myles Stephenson, CEO of Modulr comments: “Modulr is on a mission to make money flow more efficiently through business and the economy, whether customers are using the Modulr platform directly or indirectly through our partners like TradeCore. Powered by Modulr, TradeCore is able to embed payments functionality and provide customers with the same level of access as established banks to payment services.”

“We value our partnership with TradeCore, especially as they understand the competitive advantage a digital payments infrastructure brings to their customers. We look forward to supporting the payments of the fast-to-market fintech community TradeCore is creating.”

TradeCore’s platform launches in the UK with founding customers FlexInvest and OrbPay using the platform to launch into the UK market. OrbPay is a Bitcon payments gateway for businesses, and is using TradeCore to launch its crypto-processing payments product. FlexInvest is a simple, commission-free investing and banking platform, allowing customers to invest in global stocks, as well as borderless banking using FlexInvest’s digital wallet and debit card. Using the TradeCore platform, FlexInvest is now able to launch in a matter of weeks.

 

FlexInvest’s CEO, Rodrigo Garza comments: “TradeCore is the true backbone of our product. It’s significantly reduced our time to market, meaning we can launch our product in weeks, instead of the 6-9 months that’s typical for an EMI application. The platform also takes on the compliance burden, giving us a huge growth advantage and letting us move much faster. Building on the TradeCore platform has allowed us to focus completely on what makes our product standout and on our mission to disrupt the mobile investment and banking space.”

 

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MARQETA CONTINUES EUROPEAN GROWTH, SIGNING THREE NEW DIGITAL BANKING CUSTOMERS

Marqeta is supporting the development and launch of three new digital banks across the UK and Europe

 

Marqeta, the global modern card issuing platform, announced today that it has won three new digital banking clients in the UK and Europe, with all expected to go live with Marqeta in 2021. Its European Digital Banking solution has been adopted by Dozens, P.F.C. and Novus to power payments, instantly issue cards and drive innovation.

 

Dozens, which takes people on a journey from spender to saver to investor with a current account, budgeting and saving tools and access to investment products, and P.F.C., a Swedish neobank, are making the switch to Marqeta from incumbent providers. Novus, a sustainable digital bank, plans to launch its programme in 2021.

 

Marqeta’s European Digital Banking Solution helps banks and fintechs to build, test and continuously refine card programmes. The flexible platform enables Marqeta’s customers to innovate at speed, allowing them to develop new features and programmes that integrate with existing systems and software. The platform provides instant virtual card issuing capabilities and offers advanced spend controls to engage users and grow card use. Marqeta’s feature-rich APIs are highly configurable and scalable, allowing banks and fintechs to access actionable, real-time transaction data to drive program improvements.

 

“Dozens’ mission is to help our customers manage, save and grow their money. As our business evolves and we add new services to provide our customers with more choice, it was key for us to partner with a new payment processor that would enable us to become more agile,” Aritra Chakravarty, Founder and CEO of Dozens. “Marqeta is that perfect partner – its API-led approach gives us the control we need to customise our new Visa debit card product, while also helping us to create a new offering for our B2B brand Pi1. So, in addition to Dozens customers enjoying their new cards, Pi1 clients taking our Visa cards with Marqeta processing can now enjoy additional out-of-the box features like merchant reconciliation, metadata from Google Maps and Places APIs, access to our fraud systems and more, making it a cutting-edge combination of card issuing and processing.”

 

“Our ability to offer a highly personalised and transparent personal finance experience has been very well received, allowing us to become one of the fastest growing challengers in Sweden’s competitive fintech market. But in order to build on this, we needed a payment platform that was flexible and scalable, allowing us to seamlessly develop new services that will improve the experience for our users,” said Kevin Albrecht, CEO of P.F.C. (Personal Finance Co.). “We partnered with Marqeta because their platform will allow us to rapidly build and launch new payments features, as well as help support us with our future international expansion plans.”

 

“Marqeta will be a vital partner for us as we get ready to launch next year, helping us to speed up time to market while also empowering us to customise features and scale quickly our impact- and sustainability-driven proposition,” comments Hristian Nedyalkov, Co-Founder and CEO of Novus.

 

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STOCARD BUILDS ON SUCCESS AS IT EXPANDS STOCARD PAY TO FOUR MORE EUROPEAN COUNTRIES

  • Stocard, the leading European mobile wallet with over 50 million users, launches its payment functionality, Stocard Pay, in Germany, France, Italy and the Netherlands
  • The payment feature is the first financial service launched by Stocard and is the first in a series of new major features planned in the upcoming months

 

 Stocard, the leading European mobile wallet, today launches its payment feature Stocard Pay in four European countries: Italy, France, Germany and the Netherlands having launched in the UK in June this year. This latest announcement from Fintech company Stocard is the first of a series of features as it sets its sights on becoming the leading on-the-go financial services provider.

 

Stocard Pay is the latest feature from the Stocard app as it looks to expand its mobile financial services across the continent having already seen huge success with its original offering that allowed shoppers to manage all their loyalty cards in one app launched in 2012. The fintech company now has over 50 million customers and 1.7 billion POS-transactions per year and is now looking to expand its offering to provide a holistic approach to consumer financial services.

The new feature was developed to complement the end-to-end shopping experience that the existing Stocard app offers by adding multiple bank cards to the app. Stocard Pay allows users to create a virtual credit card  hosted in the app. Registration is seamless taking just one minute and without the need for paper documents. Users currently can top up Stocard Pay using Mastercard and Visa and allows users to save on foreign currency fees when purchasing items abroad.

 

Android users have access to the virtual card directly in the Stocard app. For iOS devices, Stocard supports Apple Pay, which brings the Stocard payment card to Apple Wallet. Users simply transfer money to their Stocard account from their bank account or by using their debit and credit cards. Thanks to the auto-top-up function, users don’t have to reload their account manually, instead the Stocard account can be refunded automatically once the balance drops below a certain threshold.

 

Björn Goß, CEO and co-founder of Stocard, comments: “The launch of Stocard Pay in four more European markets is a major step for us to bring the future of banking to our users. The digital wallet is becoming the central hub in our lives for everything around money, shopping, and banking.

 

“We see the future of banking as purely mobile and working in conjunction with other financial services in one easily accessible place. Stocard Pay is the first major feature with several more planned over the next months as we create this future of shopping and banking through Europe’s leading mobile wallet for everyone.”

 

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