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IFX PAYMENTS APPOINTS TONY BROWN AS NEW HEAD OF COMPLIANCE

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The appointment looks to bolster the company’s standing as a champion of regulation in the payments industry

 

IFX Payments, the global fintech company, today announces the appointment of Tony Brown as its new Head of Compliance and MLRO. Brown’s appointment comes at a time of momentous growth for the business, as it reported an increase in the number of payments it handles monthly by 3000% as well as a turnover of £20 million, double of what it was the year before.

Brown will be tasked with managing IFX’s regulatory compliance and risk as well as acting as the nominated officer for instances of financial crime. This is a significant hire for IFX and the industry at large, as compliance and safeguarding continue dominating the top level boardroom agendas.

Tony Brown

With over 15 years of compliance experience, Brown joins IFX from PayPerform, and will continue his role on the advisory board of The Association of Foreign Exchange and Payment Companies (AFEP). Brown also held senior positions for a number of large fintech companies as well as acting as a Managing Consultant at both fscom and PwC. His prior experience in building compliance frameworks as well as acting as a board member, making critical decisions and implementing a strategic vision, will pave the way for his success as he takes up his post at IFX.

In his role at IFX, Brown is looking to further build out the ibanq venture, whilst upholding IFX’s reputation for regulation and compliance within the payments space.  Brown’s appointment is also set to help IFX make a smooth transition amidst the looming impact of emerging technologies, cryptocurrencies and Brexit.

Looking at the wider business, Brown hopes to champion diversity in the workplace both in terms of skills and culture as well as leading in education to help breed a new wave of fincrime fighters.

 

Will Marwick, CEO of IFX Payments comments: “I am very excited and pleased to welcome Tony into our team. His experience is perfectly aligned with our commercial needs, and will help to propel our business to further growth whilst retaining our integrity and nurturing our values of transparency and traceability. The industry is going through profound regulatory changes, not to mention a surge in innovation so this appointment is ideally timed to help us capitalise on this. Having Tony on board is the obvious next step to achieving the high standards we as a company have set for ourselves and ultimately helping the wider industry navigate this somewhat complicated landscape.”

 

Tony Brown, Head of Compliance at IFX Payments comments: “The payments industry is ever-growing and incredibly diverse, there are a wealth of opportunities that enable us to work across a varied client base with unique products. That being said, the recent increase in ex-banking professionals trying to replicate their methods within the Fintech industry is simply not plausible and we need to be scrupulous to continue to move in the right direction. IFX Payments is keen to centre itself at the forefront of the fintech revolution and I’m thrilled to be a part of the journey with them as part of its mission of building a positive reputation in the industry.”

 

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TINTRA PLC FINALISES JOINT VENTURE WITH ARTIFICIAL INTELLIGENCE PARTNER TO BUILD INDUSTRY CHANGING REGULATORY TECHNOLOGY

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TINTRA PLC FINALISES JOINT VENTURE WITH ARTIFICIAL INTELLIGENCE PARTNER

Innovative fintech company, Tintra PLC(https://tintra.com/), has formed a joint venture with award-winning Artificial Intelligence and Machine Learning business, TMC2, via its subsidiary Finsensr.

The Joint Venture will utilise or create advanced, end-to-end AI tech – some already patented – to revolutionise how compliance between developed and emerging market economies works. This exciting tech stack includes the utilisation of lightning-fast large scale predictive modelling and semantic embeddings of financial data; together with the development of scalable efficient solutions based on customised shallow classifiers, deep learning, and Bayesian inference for robust and explainable predictive modelling.

Tintra is focused on enabling financial institutions, EMI’s, multi-nationals, and large corporates in the emerging world to gain access to banking systems that understand their geographic need. Using pioneering payments technology and compliance infrastructure will evolve the global banking industry. Where other fintech’s iterate, Tintra will innovate across the space.

In forming a joint venture with TMC2 – the team behind Mashtraxx, the AI engine being used to power a multi-billion dollar US based social media platform – Tintra aims to eliminate or radically improve the well documented emerging market issues of KYC & AML. The mission is to utilise these solutions to democratise financial regulation and level the playing field for all markets and make access to the global market place as seamless in Africa or Asia as it is in Europe or the United States.

 

Gary Wright, lead for TMC2 in the transaction stated, said “We are extremely excited to enter into this long-term partnership with Tintra to support the expansion of its business through the use of our leading-edge artificial intelligence. 

Our in-house team includes PHDs in Artificial Intelligence & Machine Learning. A Senior Executive Team with experience in the financial sector across financial services, Technology, Corporate banking, Investment management, Fund Management, and transaction services. With our key personnel gaining experience in institutions including Sungard, Mann Group, Royal Bank of Scotland, M&G, Prudential, Simplex Technology amongst a host of others

We are setting out to create the next generation of intelligent automated AI RegTech that we are confident will help power another billion-dollar unicorn, like Mashtraxx before it. We hope that this will revolutionise how the financial services industry fulfils the complex demands of KYC and AML compliance and regulatory legislation”

Tintra PLC is publicly listed on the AIM market of the London Stock Exchange and also available on the OTCQB Venture Market in New York.

In early November 2021, the PLC unveiled plans to raise additional capital to accelerate its growth strategy.

 

For more about Finance Derivative.

 

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CELLPOINT DIGITAL PARTNERS WITH VYNE TO ENABLE INSTANT OPEN BANKING PAYMENTS FOR MERCHANTS

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CELLPOINT DIGITAL PARTNERS WITH VYNE TO ENABLE INSTANT OPEN BANKING PAYMENTS FOR MERCHANTS

The partnership will allow CellPoint Digital customers to incorporate Vyne into its payment ecosystem and access instant payments without a need for direct integration.

 

Payment orchestration leader CellPoint Digital today announces a partnership with full stack account-to-account (A2A) payments specialist, Vyne. This partnership allows the Vyne platform to offer instant payments to CellPoint Digital’s merchant customers, allowing users to check-out faster than ever before and reducing merchant transaction costs.

Through CellPoint Digital’s Velocity Payment Orchestration Platform, merchants can easily incorporate Vyne into their payment ecosystem, providing all the speed and convenience of instant payments without the need for a direct integration with an open banking provider. With transactions intelligently routed and monitored in real-time, merchants can analyse performance and use data to cut costs, boost acceptance rates, and simplify operations via automated reconciliation.

By partnering with Vyne, CellPoint Digital’s merchants can now access improved payment experiences too. Harnessing open banking technology, the Vyne solution allows online shoppers to check out in as few as three clicks and offers settlements within seconds.

 

CellPoint Digital CEO, Kristian Gjerding, said: “The partnership with Vyne represents a significant addition to CellPoint’s payments offering. Merchants currently using our Velocity Payment Orchestration Platform can utilise all the benefits of the Vyne platform within their payments ecosystem and this will provide merchants with a greater opportunity to grow their business.

“At CellPoint, we put much stock into our partnerships. To us, they are more than simply functional and with Vyne being fellow innovators in the payments space with a track-record of supplying top tier merchants, we look forward to developing a long-lasting, collaborative relationship.”

The Vyne solution functions by using a customer’s existing online banking app to initiate and authenticate a transfer. As a result, the customer does not need to enter their account information online and sensitive financial details are never held by the merchant, resulting in a more secure process for both parties. By enabling a payment method that can be completed in just three clicks, the platform provides a simple and seamless experience that can help to reduce cart abandonment.

 

Vyne CEO, Karl MacGregor, said: “Existing payments and banking solutions are broken, and stacked against the merchants and consumers that use them. Payment methods come with a variety of settlement formats and can take anything from days to weeks to complete with customer conversions impacted by manual card data entry.

Vyne provides a new, alternative payment method for merchants and their customers and we’re delighted that more people will benefit from it through this partnership. CellPoint merchants will now experience instant fund settlement and their customers will be able to complete payments through their own banking apps in just a few taps with no card details needed. Merchants can also engage customers at the right time, through the right channels, using pay by link or QR codes, which can be sent via email, SMS, in app or used for in person sales.

“We look forward to working closely with CellPoint and empowering merchants with a level of payments functionality that can drive real, measurable growth.”

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