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FINTECH EEDENBULL SECURES PAYMENT TECHNOLOGY DEAL WITH NATIONAL AUSTRALIA BANK

EedenBull has announced a five year agreement with National Australia Bank (NAB), which allows the bank to deploy EedenBull’s innovative payment and spend management platform to the bank’s customer base of small and medium sized enterprises (SMEs).

The EedenBull platform provides the ability for the bank’s SMEs to track payments and spending simply, efficiently and in real time. By using the latest technology, the bank’s SME customers will prevent cash leakage by ensuring that the right business spending policies are adhered to.

EedenBull will be providing NAB its innovative Q Business platform, which includes Q Control for the administrator and Q App for the employee. NAB will issue their own payment cards onto the platform, with their customers using Q Business to manage cards and spend.

Nicki Bisgaard, CEO and founder of EedenBull, commented: “This announcement underlines our progress in offering best in class payment and spend management technology to the banking  community globally.  We are delighted to partner with NAB, a globally respected banking brand and Australia’s leading business bank, and to provide them innovative, digital spend solutions for their SME clients in Australia.  Q Business is taking commercial payments to the next level, and we look forward to being a partner on this journey in delivering value, control and flexibility to NAB and their many business customers.”

EedenBull is already partnering with 65 banks in Europe, and is now further expanding its global reach with banks such as National Australia Bank

Tania Motton, NAB Executive for Everyday Business Banking said: ‘’Expense management software solutions are so often out of reach for small and medium sized businesses. This exciting partnership will give our customers an intuitive expense management platform with full control and analysis of payments across their business as well as more confidence to allow their teams to spend money.

She continued: “For us, the most important thing about partnering with EedenBull to offer their technology is that it will help more Australian businesses to focus on the business of serving customers rather than time consuming administration.”

The partnership with NAB signals a step change in the global ambition of EedenBull, which is headquartered in Oslo, has its design and innovation team in Singapore, business development team in London and their operations centre in Edinburgh.

Bisgaard continued: “We are growing fast, innovating constantly, improving our products and services all the time and seeking further partnerships with existing and new banks globally, as we expand our worldwide footprint.  New technology, new regulation and new players are forever changing the way consumers and businesses think about payments – changing the way people pay, and get paid, and EedenBull is here to guide banks through this market, legislative and technology complexity.”

 

EedenBull Partnerships with Global Banking Community

EedenBull was launched in 2018 by a group of senior banking professionals and experts in digital payments. Enablement of third-party access to data from banks leading to the rise of open banking, has empowered tech-driven non-banking companies, such as EedenBull, to build new and innovative payments services.

EedenBull is a fintech innovation company specialising in B2B and Commercial Payment solution design and implementation. The company works with banks, schemes and payment partners on a global basis to enhance and drive innovative business solutions and products to better serve Corporate and Business clients. Unlike other fintech companies, EedenBull is not setting out to compete with the banks, but work with them to provide the innovation and tools they require to offer long-term competitive advantage and to enhance customer satisfaction.  EedenBull provides its partner banks first mover advantage to improve their reputations and competitive edge. Banks also get access to specialist B2B payments expertise and the opportunity to shape future innovation developments and technology features.

 

Finance

HIVERA BRINGS REGULATORY RISK SCORING TO FINANCIAL SERVICES

Financial services Chief Risk Officers and Heads of Compliance can now, for the first time ever, visualise and mitigate the regulatory risk in their entire unstructured data estate, thanks to hivera, a new regtech platform for financial services firms, designed to bring regulatory risk under control.

A new platform from data solutions provider, Automated-Intelligence, hivera enables clients to observe their unstructured data, assigning a tailored regulatory risk score based on the financial services firm’s risk appetite to that data, and automating the identification and remediation of threats to help mitigate associated risks.

Demonstrate Control
An estimated 80 percent of all data is unstructured. Until now, due to the challenges associated with discovering, analysing and managing unstructured data, this has created a significant challenge for compliance professionals, who are under increasing pressure from regulators to demonstrate compliance against policies and regulatory standards over all of their data.

hivera solves this problem. It indexes text-extractable content, providing users with advanced search capability to categorise personal information and commercially-sensitive data through metadata, security, keyword, phrases, and regular expression pattern matching.

Meanwhile, through the hivera dashboard, firms are presented with a risk score which correlates to the regulations they are subject to. In-depth insights enable them to visualise and address key compliance and regulatory risks within their data, whether retention related, security-related or a matter of personal and sensitive data. Moreover, with its user-friendly reporting modules, compliance professionals can quickly and easily provide compliance updates within the organisation or to regulators.

Automate Regulatory Risk Mitigation

In addition to significantly reducing regulatory risk and minimising human error, the hivera platform also offers huge resource, time and cost savings through automation. This is achieved through the application of fully-audited polices to categorised data, which enables ongoing data compliance and remediation. Policies applied against categorised data can perform deletions or archiving according to organisational retention schedules.

“hivera is transforming how financial services firms view unstructured data,” comments Simon Cole, CEO at Automated Intelligence. “By providing greater visibility and control over their unstructured data estate, we’re improving data analysis, data privacy, data protection and risk mitigation capabilities of our clients.”

 

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FORTU WEALTH PARTNERS WITH CURRENCYCLOUD FOR SEAMLESS CROSS-BORDER PAYMENTS

The partnership will enable high net-worth (UHNWI) clients to make multi-currency payments globally

 

Fortu Wealth – a London-based fintech providing a revolutionary all-in-one personal finance platform for high-net-worth individuals and a B2B banking-as-a-service (BaaS) solution for private banks and wealth managers – has today announced that it has partnered with Currencycloud, a leading provider of B2B embedded cross-border solutions, to allow its clients to make multi-currency payments globally through its Currencycloud Spark solution.

 

The modern world is increasingly interconnected and interdependent, with capital flowing across a variety of different jurisdictions as consumers manage their money. Unfortunately, much of the corresponding infrastructure used by the financial services industry has yet to catch up to this reality, and for many the process of making payments in foreign currencies is both slow and expensive.

 

Sharing a common mission of wanting to simplify the process of financial management, Fortu and Currencycloud have come together to provide a solution to this issue. The partnership will see Fortu customers now gain access to leading foreign exchange rates, international payments in all major currencies, as well as the provision of virtual IBANs through Currencycloud Spark.

 

The partnership represents the latest development on Fortu’s journey to revolutionize the worlds of private banking and wealth management. In a sector fraught with inertia, Fortu has created a groundbreaking all-in-one financial solution which meets the everchanging needs of the busy UHNWI millennial, signing up Swiss Banking Group as a pilot customer for their BaaS product.

 

Speaking on the partnership, Fortu co-founder and CEO, Azamat Sultanov, said: “For too long, our customers have had to deal with slow legacy technology and an outdated approach when it came to making international payments. The partnership will allow all Fortu users to be truly global in their approach, making cross-border payments seamlessly.”

 

Nick Cheetham, Chief Revenue Officer at Currencycloud commented: “Private banking has been the reserve of a select few traditional names, but Fortu is changing the dynamic of the industry and appealing to a broader, digital audience that has been under-served by traditional institutions. We are thrilled to be working with Fortu to help deliver a 21st century solution for their customers.”

 

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