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  • user 1:40 pm on May 29, 2020 Permalink | Reply  

    FT Partners Advises on $4.3 billion Valuation for Marqeta as it Raises $150 million in Growth Financing 

    FT Partners is pleased to announce our role as exclusive strategic and financial advisor to Marqeta on its $150 million growth financing, valuing the company at $4.3 billion, an approximately 2.5x increase from the prior round valuation, which closed less than a year ago. The round was led by one of the largest asset managers in the world. The Marqeta round, along with our recently announced ~$400 million financing for AvidXchange, both stand out since they were led by new investors and represent valuations that were substantial increases from the most recent prior rounds. Many recent large financing rounds have been led by insiders and at down or flat valuations. This round brings the total capital raised by FT Partners for Marqeta to over $500 million.

    Founded in 2010, Marqeta is the first global modern card issuing platform and supports the world’s fastest-growing innovators at scale, including Square, Affirm, DoorDash, Klarna and Instacart, by providing the most advanced infrastructure and tools for building highly configurable payment solutions.

    The Marqeta transaction highlights FT Partners’ ability to drive optimal results for our clients, even during these challenging market conditions. This transaction also underscores the long-term nature of many of our client relationships. FT Partners has advised Marqeta on all of its capital raising since 2015. Since then, the Company’s enterprise value has grown by over 40x. Prior to this round, we advised Marqeta on its $260 million Series E financing led by Coatue in 2019, its $45 million financing led by ICONIQ in 2018, its strategic $25 million financing led by Visa in 2017, and its $25 million financing in 2015.

    This transaction builds on FT Partners’ track record representing numerous FinTech “Unicorns” with $1 billion+ valuations, and extensive history advising on multi-billion dollar transactions including:

  • user 2:27 pm on June 21, 2019 Permalink | Reply  

    Legerity FastPost helps leading life insurer to automate new financial reporting and disclosures process 

    London 19th May 2019: Aegon UK, a leading savings, protection and investment service provider has selected Legerity Limited’s FastPost IFRS 17 solution to help it transition to the new International Financial Reporting Standard (IFRS 17). The new standard takes effect from January 2022 and is one of the most significant changes to accounting in the insurance sector in years, Legerity will provide Aegon UK with its third generation FastPost Accounting Rules and Sub-Ledger solution for implementation as an integrated part of its overall IFRS
    17 accounting and reporting process. David Wilson, IFRS 17 Programme Director at Aegon UK, comments, “IFRS 17 is a complex standard impacting multiple stakeholders including Actuarial, Finance and IT. There is no one size fits all solution for IFRS 17 so it is important that we selected best in class that can seamlessly integrate into our end to end financial reporting solution. After a detailed market and product evaluation process we have selected Legerity FastPost. We have been greatly impressed by the Legerity team and their FastPost accounting rules and sub-ledger technology.”
    Legerity FastPost has also been selected by other Aegon regions for implementation as part of the Aegon Group’s IFRS 17 global programme. Jeremy Wood, CEO and Founder of Legerity, adds “We are delighted to have entered into this agreement to be a key solution provider to Aegon’s future financial reporting. Aegon is a forward looking firm committed to market innovation and a digital future. It is great testament to our technology, team and achievements to have been selected by Aegon”.

  • user 2:03 pm on March 27, 2019 Permalink | Reply
    Tags: , standard bank   

    Standard Bank Group Selects AWS as Its Preferred Cloud Provider 

    One of Africa’s largest lenders selects AWS to accelerate mass migration, drive digital transformation, and enhance security posture in the cloud

    March 27, 2019

    Today, Web Services, Inc. (AWS), an Amazon.com company, announced that Group has selected AWS as its preferred cloud provider with the intention of migrating its production workloads, including its customer facing platforms and strategic core banking applications to the cloud. Standard Bank Group will leverage AWS services, including data analytics and machine learning, to automate financial operations and enhance customer facing web and mobile applications. The migration to AWS will take place across all business units, subject to approvals from local regulators, including Personal Banking, Wealth, Corporate Investment Banking, and Insurance, driving a more personalized banking and investment experience for customers.

    Standard Bank Group chose AWS because of its broad and deep portfolio of cloud services, overall commitment to security excellence, and strong financial services experience. The South African Reserve Bank also confirmed Standard Bank Group can make the move to AWS while still meeting all current compliance requirements. Standard Bank Group will take advantage of advanced analytics and machine learning services, including Amazon SageMaker, to advance fraud detection and launch new business initiatives, such as machine learning-based advisor capabilities that will help customers make more informed financial decisions. As part of the move, an AWS Cloud Center of Excellence will be established within the bank, featuring a dedicated team focused on facilitating the migration to the cloud and building AWS training and certification programs to up-skill all employees. AWS and Standard Bank Group will also collaborate on building an education and digital skills program, to be launched across Southern Africa, to train the next generation of African cloud experts.

    “Our vision is to be Africa’s leading financial services organisation and to achieve this we have chosen to work with the world’s leading cloud,” said Sim Tshabalala, Group CEO of Standard Bank. “For Standard Bank Group to remain a leader in African financial services, we recognise we need to adopt a cloud-first approach to our business. AWS Cloud will create a springboard for Standard Bank Group, helping us to rapidly roll out our digitisation and data strategy to better cater to customers whose needs are constantly evolving. The combination of AWS’s rapid agility and high levels of security, combined with Standard Bank’s customer obsession and desire to constantly raise the bar, will allow us to build Africa’s financial services organisation of the future and to be positioned as more than a bank.”

    “The cloud is transforming the financial services industry as organisations look for new ways to enhance customer experiences, and power their entire enterprise operations more efficiently and effectively on the world’s leading cloud,” said Andy Jassy, CEO of AWS. “Standard Bank Group has been a trusted financial institution for more than 150 years. We look forward to working closely with them as they become Africa’s first bank in the cloud, leveraging AWS to innovate new services at a faster clip, maintain operational excellence, and provide secure banking services to customers around the world.”

    About Amazon Web Services

    For 13 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud platform. AWS offers over 165 fully featured services for compute, storage, databases, networking, analytics, robotics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 61 Availability Zones (AZs) within 20 geographic regions, spanning the U.S., Australia, Brazil, Canada, China, France, Germany, India, Ireland, Japan, Korea, Singapore, Sweden, and the UK. Millions of customers including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com.

    About Amazon

    Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalised recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.

    About Standard Bank Group

    Standard Bank Group is the largest African bank by assets with a unique footprint across 20 African countries. Headquartered in Johannesburg, South Africa, we are listed on the Johannesburg Stock Exchange, with share code SBK, and the Namibian Stock Exchange, share code SNB.

    Standard Bank has a 156-year history in South Africa and started building a franchise outside southern Africa in the early 1990s.

    Our strategic position, which enables us to connect Africa to other select emerging markets as well as pools of capital in developed markets, and our balanced portfolio of businesses, provide significant opportunities for growth.

    The group has more than 53 000 employees, approximately 1 200 branches and over 9 000 ATMs on the African continent, which enable it to deliver a complete range of services across personal and business banking, corporate and investment banking and wealth management.

    Headline earnings for 2018 were R27.9 billion (about USD2.1 billion) and total assets were R2.1 trillion (about USD148 billion). Standard Bank’s market capitalisation at 31 December 2018 was R289 billion (USD20 billion).

  • user 3:52 pm on March 14, 2019 Permalink | Reply  

    Amun AG lists physical Ethereum ETP on SIX Swiss Exchange 

    First series of physically backed ETPs solve custody issue while allowing wide range of investors to invest in cryptos as easily as in stocks

    Zurich, 14 March 2019 – Amun AG, a Swiss aiming to facilitate access to crypto-asset investments, has recently launched an ETP (exchange-traded product) tracking Ethereum, the second major cryptocurrency globally after , the Amun Ethereum ETP (ticker AETH).

    This launch follows the listing of HODL, an ETP representing an index of the top five cryptocurrencies, in November 2018 and the listing of ABTC, an ETP tracking Bitcoin, in February 2019. All three ETPs were listed on the SIX Swiss Exchange.

    Hany Rashwan, Co-Founder and CEO at Amun, explains: “At Amun, we aim to make crypto investing as easy as buying and holding as a stock. Launching these ETPs is a unique way to giveaccess to a wide range of investors around the world to an innovative and exciting asset class through a regulated exchange.”

    The specificities of these ETPs compared with other financial products on cryptocurrencies are the following:

    • Amun ETPs are physically backed, a feature that no other provider has been offering so far. So investors can now own cryptocurrencies via products listed on regulated exchanges without having to worry about keeping their private keys secure, the number one concern in the crypto space; and
    • Amun ETPs have the same characteristics as physical gold ETPs. Exchange-traded products were launched nearly 30 years ago to follow the equity market, and have been expanding since then to all other asset classes, from commodities to bonds.Cryptocurrencies represent a new, promising asset class and, as such, a potential area of growth for the ETP industry.

    Ticker – Name – ISIN

    HODL – Amun Crypto Basket Index ETP – CH0445689208

    ABTC – Amun Bitcoin ETP – CH0454664001

    AETH – Amun Ethereum ETP – CH0454664027


    The Amun Ethereum ETP is a fully collateralized product which is denominated in US dollars and has an annual investor fee of 2.5% that includes custody, insurance, and re-balancing fees.

    Amun announced earlier this week having completed its first funding round, bringing on board a number of experienced industry figures including Adam Draper, Founder of Boost VC, Graham Tuckwell, Founder of ETF Securities, Greg Kidd, Co-Founder of Hard Yaka, as well as four family offices.



  • user 6:00 am on July 24, 2016 Permalink | Reply
    Tags: , d+h, , , , ,   

    Lloyds Banking Group Selects D+H for White Labelled Bacs Payment Solution [PR] 


    London, July 21, 2016, CNW –  Corporation (TSX: DH) (“D+H”), a leading provider of solutions to financial institutions globally, today

    announced that Banking Group has selected its Bacs payment service to optimise Direct Debit and Direct Credit processes. The D+H solution, which is being white labelled by the bank, will enhance the suite of payment solutions available to its UK clients.

    As an integral part of its strategic investment in digital services to meet more of their clients’ needs and build stronger client relationships, Lloyds Banking Group sought to provide new payment services to enhance clients’ payables and receivables processes. The bank will initially offer the D+H-powered Bacs capabilities to small- and medium-sized enterprises and mid-market clients, but the solution can scale easily to meet the needs of any global transaction banking/large corporate bank client. The solution will provide the bank’s clients with Direct Debit and Direct Credit connectivity, automated retrieval of Bacs messages, a full service Direct Debit management suite, integration with clients’ ERP systems, and ease-of-use with minimal training required, among other features.

    Lloyds Banking Group selected D+H’s Bacs payment service because it met all of the bank’s requirements including quick time-to-market, resiliency, and proven disaster recovery and business continuity capabilities. The solution will broaden and deepen already strong client relationships and unlock opportunities that could not previously be pursued.

    “There is increasing demand for businesses of all sizes to focus on driving down costs by reducing or eliminating manual processing and increasing cash flow,” said Dyfan Williams, business unit head, D+H. “By providing a Bacs payment service, Lloyds Banking Group is enabling its clients to minimise manual work, reduce costs, and eliminate errors. This level of control and flexibility enables buyers and suppliers alike to take advantage of preferred payment terms, further increase the positive impact on cash flow, and develop strong working relationships.”

    About D+H

    D+H (TSX: DH) is a leading financial technology provider the world’s financial institutions rely on every day to help them grow and succeed. Our global transaction banking, lending, and integrated core solutions are trusted by nearly 8,000 , specialty lenders, community banks, credit unions, governments and corporations. Headquartered in Toronto, Canada, D+H has more than 5,500 employees worldwide who are passionate about partnering with clients to create forward-thinking solutions that fit their needs. With annual revenues in excess of $1.5 billion, D+H is recognized as one of the world’s top companies on IDC Financial Insights FinTech Rankings and American Banker’s FinTech Forward rankings. For more information, visit dh.com

  • user 7:55 am on July 20, 2016 Permalink | Reply
    Tags: bmw, , innovation lab   

    [PR] – BMW Group Financial Services launches innovation lab in the UK 

    Group of people discussing some issues

    Group of people discussing some issues

    Group , the retail and commercial finance provider, has today launched the in the UK, an opportunity for early-stage start-up companies to partner with the company. Designed specifically to discover new technologies that can help deliver new and improved services to its customers, the company’s initiative is the first of its kind in the automotive financial services sector.

    Run in partnership with L Marks, a corporate innovation specialist and investment fund, the Innovation Lab has been developed to attract young companies with disruptive technologies that can be used to speed up development of new financial services products and bring them to market faster. Applications are now being invited and start-up companies have until 31 July to submit their application on the Innovation Lab website http://www.bmwinnovationlab.co.uk.

    Mike Dennett, CEO, BMW Group Financial Services, UK said: “The Innovation Lab provides a great opportunity for us to get a different perspective on our business and generate new ideas more quickly. It is a very different approach and one which will allow us to explore customer-focused initiatives from young, energetic and talented small companies while at the same time offering them the chance to gain exposure to a range of experienced mentors and potential investors.”

    Stuart Marks, entrepreneur and Chairman of L Marks, said: “Innovation Lab is an unprecedented opportunity for promising start-ups to get access to a leading provider of automotive finance and insurance products and solutions, BMW Group Financial Services in the UK. I believe that this kind of intense engagement with the company over a 10-week period will enable start-ups to build a deep and meaningful relationship with the brand and develop their products and services in a unique environment. By opening their doors to start-ups, BMW Group Financial Services will be getting access to new ideas and ways of working that will have a real impact on their business. I am very excited that L Marks will be part of the journey the chosen companies take as they work on this programme and to see what they will have achieved by the end of the process and beyond.”

    Successful start-ups taking part in the Innovation Lab will be amongst the first to have access to the following opportunities as a result of the company’s initiative:

    • Financial product validation and testing opportunities with UK experts and customers
    • Mentorship from the UK leadership team
    • Access to investors at L Marks
    • Access to network of industry experts
    • Free office space located at the company’s head office in Farnborough, Hampshire
    • A first class education programme based on the Disciplined Entrepreneurship method from the Massachusetts Institute of Technology

    In addition, access to fundraising support from the L Marks investment team will be made available as well as the opportunity to pitch for investment from this fund at any point during the programme. BMW Group Financial Services in the UK will not take a minimum equity stake for participation.

    Further information on the Innovation Lab can be found on the website: http://www.bmwinnovationlab.co.uk

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