Inbest free white-labelled benefits calculator
Welfare advisers, affordable lenders and money charities have been at the forefront helping people to deal with the economic crisis caused by the COVID-19 pandemic. However, in many cases, their capacity to support people is restricted by their limited resources to build or purchase data & digital solutions to identify, reach and serve financially vulnerable customers.
At Inbest we are passionate about financial inclusion and we develop data & digital money management solutions that meet the specific needs of financially vulnerable people. For example, helping them to access their benefits, understand the level of support that disabled people need, or find the best debt solutions according to their personal circumstances and financial situation.
We believe that collaboration between companies with complementary skills is the only way to drive financial inclusion and ensure an inclusive recovery from the COVID-19 pandemic. That is why we are excited to offer our white-labelled benefits calculator free of charge to support welfare advisers, affordable lenders and money charities in their data & digital journeys.
Our offer
Welfare advisers, affordable lenders and money charities will be able to use our free benefits calculator to:
- Help customers: They can embed our benefits calculator across their digital assets (e.g. webpage, mobile apps, social media, blog posts) to help customers to access the support available to them with a simple, quick and user-friendly user journey.
- Understands customers: They will be able to use our data analytics application to unlock the full power of customers’ data to better understand their needs and behaviours.
Our free white-labelled benefits calculator also includes the following features and services:
- Widest benefits coverage of national, regional and local benefits in the UK – you can see here the benefits and grants we currently calculate.
- Data analytics application where you will be able to monitor the application usage and visualise the personal circumstances, financial situation and benefits entitlement of your customers.
- We will customise the benefits calculator according to your branding and will co-create content to help your customers to understand how they can make the most of their benefits.
You can check how Advice Direct Scotland and Capital Credit Union are already using our free white-labelled benefits calculator.
Email us at info@inbest.ai to explore this offer in more detail and discuss how we can help you to deliver data & digital solutions to drive financial inclusion.
About Inbest
Inbest is a software platform that helps unemployed individuals or those in low paid or insecure roles to access their benefits entitlement. Inbest offers the widest benefits coverage in the UK and partners with FS institutions and welfare advisers to embed benefits advice into personalised customer journeys.
Level E Research closes seed funding round.
Level E Research, a leader in artificial intelligence (AI) investment solutions, has raised £1.2m from a group of private investors all through a seed funding round.
Founded in 2018 by Dr Sonia Schulenburg, the business combines data science, machine learning and behavioural economics to facilitate institutional investors in developing, testing and implementing smart investment strategies at the highest levels of automation. Their selling point? They offer it at a significantly lower cost than traditional investment management business models.
CEO Schulenburg stated,
“This very successful fundraising backed by well-known industry leaders is a huge vote of confidence in our technology and business model, enabling us to scale up our business development efforts as well as continue to invest in cutting edge research and attract the most talented people. Our hedge fund clients have been quick to realise the benefits that our unique machine learning platform can provide, and we are in discussions with asset managers who are keen to integrate our AI into their investment process or seeking to launch the next generation of AI-driven funds. Our modular SaaS platform readily integrates into existing infrastructure making it easy to adopt.”
Nicola Anderson (CEO of FinTech Scotland)
“I am delighted to hear that Level E Research has secured a significant amount of seed funding. This is a testament to the strength of its innovation and capability and will lead to the creation of more highly skilled jobs in Scotland. The fact that it is mainly Scottish backers who are investing in Sonia’s vision and leadership, supporting a woman fintech founder, also demonstrates the strength of Scotland’s commitment to fintech, diversity and inclusion.”
For further information, please contact Philip Rothfield: phil@levele.ai
FCA complaints handling. Compliance and reporting by Workpro
Based in Edinburgh, the Workpro team is delighted to join the FinTech Scotland community. We specialise in software for FCA-compliant complaints handling and reporting.
Improved customer service and management insights are just as important to our customers. Resolving complaints well is important for customer retention and reputation, so good practice is good for business. Of course, the way complaints are handled is also subject to external scrutiny.
Workpro FS (Workpro Complaints for Financial Services) was a natural evolution from our origins serving ombudsman and regulators. Complaints in both sectors involve more than just expressions of dissatisfaction. They bring to light issues which can have serious implications for all parties. Robust processes must be followed, and lessons learned from outcomes. Root cause and trend analysis feed into continuous improvement initiatives.
Workpro’s client base extends from the UK to the US, Canada, Bermuda, Cayman Islands and beyond. Workpro’s HR case management configuration is also being adopted by financial institutions for employee relations casework.
While many big names are attracted to Workpro, our clients include small to medium sized firms, or niche departments within bigger-name organisations. Workpro clients appreciate all the accreditations, security, and resilience our system provides, without the big company overhead.
We would love to talk to you more about our products for the financial services community. Please contact us on info@casltd.com or visit our website: workpro.com
Encompass Secures Investment
The leading RegTech provider of Know Your Customer (KYC) automation software, Encompass Corporation, has secured investment from Beacon Equity Partners, a private equity group focused on companies that solve regulatory and compliance challenges. Beacon joins the existing investors in a broader capital round to fuel Encompass’ growth in 2020.
In addition, Beacon Equity Partner, Joe Bradley, will also join Encompass’ Advisory Council to further this important relationship. Bradley joins existing members Stephen Allen, former CRO of Macquarie Group; Kevin Gould, founder of IHS Markit, and Raymond W. Scott, CEO of Axolotl Corp.
Encompass has had a strong 12 months – the company has not only achieved significant revenue growth but has added a number of top global banks and law firms to its client list. A client list that already included the likes of Santander and the Nordic KYC Utility, Invidem, as well as key partners such as Accuity.
This follows the RegTech provider hiring 70 new staff members across all existing locations, but with a particular focus on expanding the organisation’s footprint in Singap[ore, the US, Serbia and Sweden. Key hires have included Alan Samuels as Head of Product; Chris Hodgens as EVP, Engineering; Robert Jessurun as Head of Banking Sales, and Tim Gentry as Head of Engineering Operations.
Wayne Johnson, CEO and co-founder, Encompass Corporation, said about the new investment announcement:
Beacon Equity Partners is the perfect match for Encompass, with this investment enabling us to continue our rapid growth journey whilst investing across our business to meet demand. The expertise Joe and Beacon bring in growing global companies is of great benefit, particularly as we work towards formally entering the North American market in 2021 ”“ a significant milestone for Encompass.
Joe Bradley, Partner at Beacon Equity, added:
Encompass is at the exciting stage where we like to invest in businesses ”“ they have a clear leadership position in a growing niche in the KYC space. The number of global banks adopting the platform reflects the momentum we have seen and is a telling sign of the growth potential of this company.
AutoRek takes on the Big Apple
AutoRek, a leading Fintech software provider to global financial service firms, is the Glasgow Chamber of Commerce’s selection for representing Scottish business in its virtual trade mission to the state of New York.
On the 23 and 24 March, the two-day event aims to attract Scottish companies from the Fintech sector that show interest in international exporting and expanding. 16 company-strong delegations that will participate in a market awareness session, and two business-to-business meetings based on specific requirements, with support from the Chamber’s local market partner.
Establishing international partnerships in the main aim of this trade mission, with the opportunity to explore joint ventures, distribution deals and other mutually beneficial practices.
Having been selected by the UK Government’s Department of International Trade to showcase the Best of British Innovation, AutoRek has continued to build overseas relationships. Just last week, AutoRek announced Scottish Equity Partners had completed a significant growth equity investment in its business, which will facilitate accelerating its US expansion plans.
Know-it ”“ Striving for success! Brand New Credit Management Platform
Glasgow based fintech company, Know-it are almost ready to launch their brand-new credit management platform set to transform businesses credit control processes!
Being developed for over 2 years, Founder and CEO Lynne Darcey Quigley, has brought her 25 years credit management experience into the platform. Simplifying the full credit control process and bringing it all together in the one login!
With the fast-paced technology world, Know-it are ahead of the game. Their platform connects with some of the leading accountancy apps including Xero, Sage, QuickBooks and FreeAgent, making it a seamless journey for the customer, allowing them to Check-it (credit check and monitor customers), Chase-it (automated email/letter/SMS payment reminders) and Collect-it (commercial debt recovery support)
The Know-it platform will ensure people have a robust credit management process regardless the size or industry. We want to help businesses save money on subscriptions on multiple platforms and credit referencing services. We also believe that the SME should have the same access to these tools as large PLC’s do. Balancing the playing field!
They have seen some recent success with company Founder and CEO, Lynne Darcey Quigley progressing to the final of the AccelerateHER competition in the FinTech, Data Science & Cyber Security and being shortlisted semifinalists for the Scottish EDGE.
The AccelerateHER Awards are a celebration of female founders and their potential to grow their companies and scale internationally. Lynne has made it through to the final taking place on 25th March, which will involve her pitching live to a panel of judges. Good luck Lynne!
Get to know Lynne a little more by reading her interview with We Are Tech Women
Know-it are currently at beta testing stage with their test group, there is still time to get involved and see the platform before launch! Please get in touch with kevin@know-it.co.uk for more information regarding being a beta tester. All testers will be given an exclusive 6-month free subscription worth over £500.
Find out more about Know-it by visiting their website ”“ www.know-it.co.uk
SEP Invests in Glasgow Based SaaS Platform AutoRek
Scottish Equity Partners (SEP) has made a significant growth equity investment in AutoRek, a leading Glasgow-based provider of Financial control, regulatory reporting and data management software. Over the past three years, Autorek’s cloud-based software as a service (SaaS) has experienced significant growth and investment from SEP, enabling them to extend further into the international market as well as accelerating additional product development.
About AutoRek
AutoRek is an industry-leading software provider to companies in the global financial services sector.
An industry leader at the forefront of financial data management, AutoRek’s customisable rules-driven platform allows firms to automate and streamline the collection, validation and reconciliation of data. This facilitates the necessary transparency for good governance and fulfilling regulatory obligations. Efficiency and cost reduction are delivered by eliminating spreadsheets and manual processing, as well as mitigating operational and regulatory risk associated with managing high volumes of data.
SEP Expansion
Increased regulation of financial institutions and growing demand for AutoRek’s financial control and regulatory reporting solutions have both been a result of the drive for greater integrity, transparency and accountability within the financial services sector. AutoRek’s software automates high-volume reconciliation, exception management and data analysis workflows, delivering operational efficiency and improved governance of financial and regulatory risk. Partnering with SEP will support the company to further enhance its proposition to address a $2 billion-plus per annum global regulatory and data management software market.
Andrew Davidson and Angus Conroy led the deal, with both joining the AutoRek Board. Angus said:
“AutoRek is a fast-growing and capital-efficient SaaS company, delivering business-critical functionality to financial institutions across the asset management, banking and insurance sectors. The company has an excellent reputation in the financial and regulatory data management market and a strong focus on product innovation. We are pleased to be working with the management team to help them achieve their growth ambitions.”
Gordon McHarg, co-founder and CEO of AutoRek said:
“We are delighted to have SEP on board as an investment partner to continue the successful evolution of the AutoRek business. SEP has extensive experience in the software sector and we are looking forward to working with them to build on our recent growth and to capitalise on the substantial opportunity within the global financial services market.”
Clearwater Analytics Operations Expansion
Edinburgh-based fintech Clearwater Analytics is significantly expanding its Operations team as part of the company’s recently-announced strategy to grow its business in Europe.
Clearwater’s Operations hub in Edinburgh has grown to more than 100 people in the last several years and has recently opened over 15 new roles. Clearwater is specifically looking to hire chartered accountants, subject matter experts (in areas such as insurance), and data specialists, along with recent university graduates, to join them in the next phase of growth.
Mark Gillespie, Head of European Operations at Clearwater, says: “There has never been a more exciting time to join Clearwater. Especially out of our Edinburgh center, we are doing larger and more complex client implementations and supporting a growing number of large multinational organizations. We are also continuing to drive innovation in our SaaS platform, incorporating the latest technology and analytics tools and adding product features for our clients.”
With over $5.5 trillion in client assets on the platform, Clearwater replaces multiple data management, accounting, and reporting solutions with one solution that delivers 100% reconciled data and daily reporting for investment professionals across 50 countries. Stat, GAAP, tax, risk, and regulatory reporting are all generated from this one source using customizable reporting and powerful analytics. More information about Clearwater is available on its website and career page.
Global partnership for fintech Paysend and Mastercard
Scottish fintech Paysend just announced a strategic partnership with Mastercard.
The partnership will increase Paysend’s global reach and bring better outcomes for both businesses’ customers.
2021 is shaping to be a very successful year for Paysend after announcing they had reached 3 million customers in January as well as having experienced hypergrowth from the beginning of the COVID19 pandemic, since their technology enable customers to manage their money in a safe, secure, fast and low-cost way.
Thanks to this partnership will boost the new Paysend Global Account, combining its Global Transfer together with account/product services. It will also offer a platform for strategic expansion in order to increase the capacity for inter-regional transactions.
Ronald Millar, Co-Founder & CEO of Paysend said
“Our partnership with Mastercard will bring even more freedom to Paysend customers who want to hold, spend and send their money on a global scale. We will be working with Mastercard on collaborations programmes to bring the benefits of our multi-currency service to more people around the world, so they can spend freely and flexibly on their travels”.
Jason Lane, Executive Vice President Market Development Europe at Mastercard added:
“We are thrilled to be able to partner with Paysend. This partnership is an important milestone in delivering choice of payments, in particular in a cross-border environment, and allowing people to pay how they want, anywhere, anytime.”
3 new clients for Scottish Fintech Exizent
Exizent is developing rapidly following the announcement that Countrywide Tax and Trust Corporation, Thursfields Solicitors and Thorntons are all digitising their probate with Exizent’s new platform.
After raising £3.6 million last year, the company continues on its mission to transform the way the legal and financial services industry deals with bereavement.
Nick Cousins, founder, and CEO of Exizent says
“We know from our own research that most law firms are frustrated with the amount of time it takes to process probate cases and wish the process could be more efficient, and in an era of digitised services, with more transparent and open access to information, there is no reason it shouldn’t be. Our platform brings together all the information and data needed to apply for probate in one place, making it quicker and easier for professionals to manage and less stressful for those who have lost a loved one.”
Ian Bond, Head of Wills & Estates at Thursfields, says:
“Due to the numerous parties implicated and the time required to manually gather all relevant information, probate can be very emotional and stressful for those involved. Exizent is the first piece of technology to connect data, services and the network of people involved when someone passes away, and therefore has the ability to completely transform the way professional services manage and executors experience probate.”
Murray Etherington, Head of Private Client at Thorntons, says:
“It’s vitally important for those dealing with estate administration that they do everything in their power to alleviate as much distress as possible for both families and executors. Every client requirement needs to be dealt with individually, but having an effective and efficient process in place helps enormously and this is where Exizent has the power to be a real game-changer.”
Clive Ponder founder and Director at Countrywide Tax and Trust Corporation, says:
“The loss of a loved one can be made all the more stressful by having to tend to complex and time-consuming documentation and admin work. This has never been clearer than in 2020, a year marked by extraordinary grief. Using the Exizent platform will enable our Specialist Probate Team to better support the bereaved, by eliminating uncertainty and ensuring a seamless and integrated experience for all involved.”