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FINTECH TRADECORE SUPPORTS PLATO TO BRING MORE EFFICIENT MONEY TRANSFERS TO MARKET

Plato ’s digital and card solutions enable customers to share funds with family quickly and easily

 

Fast growth fintech TradeCore today announces a partnership with Plato, supporting the payments business in bringing quicker, easier and more cost-effective payment transfers to customers.

TradeCore, which recently announced the UK launch of its new fintech platform, acts as a one-stop-shop for fintech start-ups looking to accelerate their go to market strategy, and will support Plato with its technological proposition, enable the payments provider to focus on product development and help reduce the time to launch.

As consumers increasingly look to transfer funds to their family members, Plato has created a digital system that enables users to send money to their loved ones in just a few clicks. Users download the Plato app from the company’s site or app store and can then load funds via payment methods, including traditional bank debit cards, wire transfers or open banking into their Plato wallet.

The system is much more efficient than pre-existing options, enabling users to transfer funds, and manage the recipient’s spending on mobile, in real time, at any time. Plato is different to traditional money transfer services in that it provides a physical debit card to the transfer recipients – accepted in over 35 million locations worldwide – linked to the Plato account. Users have immediate access to funds anytime, anywhere and can pay in stores, online as well as withdraw money at any supported ATMs.

The announcement comes during a period of sustained growth for TradeCore, which has built a name for itself by supporting emerging fintech startups slash time to market and reduce costs. Through its vast technological expertise and partner network, the business manages and deploys costly backend infrastructure on behalf of its clients, enabling them to focus on developing products and improving end customer experiences.

In recent months the business has been rapidly expanding its partner network to further develop the services it can offer to its fintech clients. Recent partnerships include ComplyAdvantage, a global technology company transforming financial crime detection, and TrueLayer, a leading technology company building financial infrastructure that’s open to businesses anywhere in the world.

 

Speaking about today’s partnership announcement Stefan Pajkovic, founder and CEO at TradeCore said: “TradeCore understands the complexities and cost of getting a fintech market-ready, and we are delighted to have been able to support Plato in turning their proposition into a reality. The team at Plato are doing amazing work to make fund transfers quicker, easier and more cost effective for families, and we look forward to supporting their continued business growth in the months and years to come. Through our expertise and backend technology we can help the business continue to scale, enabling them to produce more products and evolve their proposition to meet customer needs.”

 

Masa Madden, Plato commented: “Transferring money has historically proven cumbersome and expensive. Plato’s mission is to remove these complexities and expenses, creating a digital alternative that makes helping out your loved ones quicker, easier and more efficient.

“TradeCore has become an established name within the fintech space, and for good reason. The business has enabled us to bring our product to market much quicker than expected. Thanks to TradeCore’s Platform and their knowledgeable team’s support, we’ve built a word-class product meaning families are now able to seamlessly share funds and support each other in these most testing of times.”

 

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EIS INTRODUCES USAGE-BASED INSURANCE SOLUTION THAT UNIFIES PERSONAL AND COMMERCIAL CAR USE FOR CONTINUOUS COVERAGE

Includes Ridesharing Solution Enabling Insurers to Cover Drivers Based on How Far, How Well, When and – Now – Why They Drive

 

EIS, a core and digital platform provider for insurers, today announced the introduction of EIS UBITM, a new Usage-Based Insurance software solution that makes it easy for insurers to price, underwrite, and service drivers based on how far, how well, when and even why they drive. The first iteration of the new offering is EIS UBI for Ridesharing, which bridges the traditional divide between personal and commercial lines and provides drivers with continuous coverage.

“With EIS UBI, we are solving one of the biggest challenges to insurers as consumers increasingly demand coverage tailored to fit their lifestyle, be it infrequent drivers seeking mileage-based policies, safe drivers who want to be rewarded for their good driving habits, or drivers earning income from ridesharing, carsharing, and other commercial uses,” said Joel Yarde, Technology Marketing Lead, EIS. “EIS UBI enables insurers to innovate and deliver products for specific uses, take better advantage of telematics and deliver a great customer experience.”

Through seamless integration of data from a wide variety of telematics and mobile devices, EIS UBI can support multiple models including miles only, driver behavior, change of use, or any combination of these and other factors.

“The pandemic has been a catalyst for the UBI market, as insurers across the size spectrum look to ramp up programs. Programs to support various telematics and usage-based-insurance initiatives, including ridesharing, are becoming increasingly important,” said Mark Breading, Partner, SMA.  “It is vitally important that modern core platforms like EIS offer new capabilities to support these programs.”
Solution for Ridesharing
The first iteration of the new solution is EIS UBI for Ridesharing, which solves the challenge insurers currently face in accurately underwriting and pricing based on “why” the car is in use. Rideshare drivers may cycle through four phases that cross over commercial and personal lines of coverage: off the clock, on the clock waiting for the first customer, pickup and driving to the destination, and on route to the next pickup. However, typical rideshare policies cover only stages with riders in the car.

EIS UBI for Ridesharing enables insurers to provide continuous coverage with accurate rates and premium billing according to each phase of use, whether personal or commercial. Furthermore, it allows companies to embed insurance offers directly into the driver experience through their driver app and enable real-time or near real-time interactions. EIS UBI for Ridesharing is already in use by one insurer to provide quotes and service to drivers of a top three global ridesharing company.

 

Driving Innovation

The foundation of EIS UBI is the powerful and extensive event-driven architecture of EIS Suite that makes thousands of policy, billing, claims and customer management tasks, transactions, and interactions available for creating usage-based insurance products.  EIS UBI is the next generation of usage-based insurance capabilities available in EIS’ PolicyCore policy administration platform.

This enables EIS clients to innovate for a wide variety of scenarios from providing unified coverage for vehicles or equipment used for personal and agricultural use, to public and private carsharing, and commercial fleet.

“EIS UBI provides insurers with the tools to create and deploy usage-based products for today’s sharing economy, and to ‘future proof’ their offering as new models of car usage emerge,” said Yarde. “EIS clients have embraced the capability to create new auto coverages and use EIS UBI as a platform to test-and-learn new product innovations.”

 

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ONGUARD WELCOMES ADRIAAN KOM AS CHIEF COMMERCIAL OFFICER

Onguard, the fintech company dedicated to the order-to-cash process, has today announced it is welcoming Adriaan Kom as its new Chief Commercial Officer. Responsible for overseeing the development and commercial strategies of the business, Adriaan’s appointment strengthens the management team and Onguard’s ongoing commitment to building its market position and international growth within Europe.

 

Adriaan Kom is no stranger to the fintech world. For the past 14 years, he has held various commercial and strategic roles at Onguard’s partner Altares Dun & Bradstreet, including as director of business development and partnerships and general manager of product solutions.   In his career, Adriaan has advised B2B organisations at both national and international level on how to apply optimal data management in the areas of credit management, compliance, fintech, sales and marketing. This wide-ranging experience and eye for innovation makes him the perfect fit for Onguard.

 

Adriaan Kom comments on his appointment at Onguard: “I am delighted to have joined Onguard, given its credentials in the market for being a forward-looking, innovative organisation. I look forward to working with the team to build on the company’s growth. The market is on the move and the strategy we choose to follow will be crucial to future success. My goal is to create a healthy, internationally successful organisation where the customer is central and our employees are proud to be a part of our journey and are rewarded with opportunities to grow professionally.”

 

Marieke Saeij, CEO at Onguard, adds: “I am delighted to welcome Adriaan Kom to Onguard. With his knowledge, experience and customer-oriented approach, I am sure that in the role of Chief Commercial Officer he will realise added value for our customers and contribute to Onguard’s ambition to grow further within Europe.”

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