AutoRek signs Nationwide as a new client
AutoRek, the Scottish fintech and leading software solutions provider for financial controls, data management and regulatory reporting, have just announced that Nationwide Building Society had joined their list of clients.
The initial contract of 3 years (with option of another 2 years extension) will see Autorek provide Nationwide with their cloud-based financial controls and data management platform.
Nationwide selected Autorek for their ability to deal with a number of reconciliation and attestation challenges. The project will be implemented in a multi-phase approach and will include Mortgages, ATMs, Payments, Cards & Substantiation.
“I am really pleased to welcome an organisation of Nationwide’s calibre to our list of clients. We are looking forward to building a good working relationship with the team and providing them with our experience in helping leading financial services firms better understand their transactional data. This is a landmark deal for AutoRek and the result of an extraordinary team effort on both sides”
Gordon McHarg, AutoRek’s Managing Director
“After a thorough tender process, we were impressed with the quality of the AutoRek tool, it’s speed, adaptability and robustness. We noted that with its cloud functionality that we could face into future with confidence on scale and volume.”
Ian Williams, Director of Financial Control & Operations at Nationwide Building Society
Blockchain Technology Partners brings smart contracts to Amazon Quantum Ledger
Scottish Fintech Blockchain Technology Partners(BTP) has made available its integration of DAML.
Amazon QLDB is now supported by Sextant for DAML in the same way Hyperledger Sawtooth and Amazon Aurora are. The solution simplifies the deployment and management of DAML enabled ledgers.
“There are plenty of scenarios where there is a trusted centralised operator or a natural authority but there is still a requirement to ensure data is not tampered with. DAML on Amazon QLDB addresses these use cases combining the expressive power of DAML with the resilience of AWS.”
Kevin O’Donnell, Co-founder and CTO of BTP
DAML is an open source platform-agnostic smart contract language designed for use in multi-party processes. DAML abstracts away the underlying complexities of blockchains, distributed ledgers, or traditional databases, allowing developers to focus on the business logic of the applications while giving clients deployment flexibility as well as application portability.
“Businesses need to stay nimble to compete and thrive while also maintaining high standards of security and auditability. BTP’s Sextant for DAML with QLDB makes it seamless to run distributed applications without the operational overhead or compromising security,”
Shaul Kfir, co-founder and CTO of Digital Asset.
The integration of DAML on Amazon QLDB is commercially supported by BTP’s management platform, Sextant for DAML, which was launched on the AWS Marketplace at AWS re:Invent in December 2019.
Fintech Zortrex launches Zortrex Token Vault
Scottish fintech Zortrex launched Zortrex Token Vault yesterday.
The Zortrex Token Vault was created to assist organisations with reducing the cost and complexity of protecting against data breaches, ensure customer privacy and compliance with ever-changing regulatory requirements.
The Token Vault tokenises messages in-line, removing and storing sensitive data such as credit/debit card information at the boundaries of an organisation.
Zortrex’s growth plans are very ambitious wishing to become the tokenisation vendor of choice within the financial sector.
Zortrex Token Vault addresses unique requirements of the financial sector, dealing with sensitive data and financial messaging standards, including ISO 8583/20022, DB and Hadoop, ensuring quick and easy deployment into payment environments.
This flexible solution seamlessly integrates with clients’ legacy services and systems, allows organisations to evolve how they manage sensitive information.
Zortrex Token Vault operates from a centralised control point allowing companies to create or amend token masks as well as safely and securely de-tokenise data, in instances where the original data is required, via a web portal. The platform can be deployed as a Software as a Service (SaaS) in the cloud, in a hybrid cloud/on-premises model or entirely on a customers’ premises.
Zortrex Token Vault can be used with any data or string of data. Tokenisation doesn’t rely on encryption keys so organisations don’t have to worry about managing sensitive data – security travels with the data.
“Technology is driving transformation within the financial services sector, and tokenisation is changing the way sensitive information is handled, controlled and disseminated throughout organisations,”
Zortrex CEO – Steve Clarke
Fintech HubSolv moves to new office as company further expands
Scottish fintech, HubSolv Limited, is moving today, Friday 14th February, to a new office in Glasgow City Centre to accommodate growth ”“ as the company further expands into the insolvency and debt management sector.
The team at HubSolv are moving from their previous setting in Glasgow, where they’d been since 2017. The last year saw the company expanding significantly in head count and being recognised as one of the top 50 fastest-growing tech companies in the UK by an influential ranking based on revenue growth.
The new office is in the heart of Glasgow city centre; a stone’s throw from the previous premises, and it is more than double in size totalling 2,896 square foot.
HubSolv recently launched a tool for creditor communication and enhanced its product offering with integrated open banking for the assessment of individuals’ affordability. The software company has ambitious plans to lead digital transformation across the insolvency space and further sectors, with technology solutions that can streamline traditionally paper-based processes in the industry.
Fraser Hamilton, Director of HubSolv, said “We are delighted to be expanding and moving into a much-needed bigger office space, to accommodate our sustained growth. The new office benefits from a central location within our home city of Glasgow, and it’s ideally built for client meetings and training days. We’re looking forward to making the most of the space.”
The new location forms part of the renovated office spaces within The Reel House, an iconic art deco building and former cinema venue in West Regent Street, Glasgow.
All phone numbers and email addresses remain the same, however the new address is:
Hubsolv Ltd
3rd Floor, The Reel House
7 West Regent Street
Glasgow
G2 1RW
Scottish fintech Autorek selected by Bank of England for their automated reconciliation and data management solution.
Following a competitive tender the Bank has chosen Scottish fintech AutoRek for the automation of their reconciliation processes. The main objective is to increase efficiencies.
Thanks to Autorek, the Bank of England will have access to a centralised platform for their daily and monthly reconciliation tasks.
The key business benefits of Autorek include:
Ӣ Enhanced control
Ӣ Accurate matching at transaction level mitigating risks Ӣ Better insights into processes
Ӣ Best in class automation tools
Ӣ User configured dashboards
“It is a testament to the whole AutoRek team that we have been able to successfully engage with an institution such as the Bank of England. As we enter our 25th year of operations we have and continue to work with a broad range of leading Insurance, Investment Management and Banking organisations. I look forward to AutoRek delivering value and efficiencies for the Bank as we move into the implementation phase.”
Gordon McHarg, Managing Director
ShareIn on a roll with the announcement of new client win
Edinburgh-based fintech and FinTech Scotland member ShareIn recently announced the win of a major global client, Shojin Property Partners, who have re-launched their property investment website using ShareIn’s modular approach to online investing.
Autumn 2019 saw the launch of ShareIn’s CASS-compliant payment solution, ShareInPay. Combining this with ShareIn’s direct investment technology solution and Innovative Finance (IF) ISA service allowed Shojin to consolidate their previous multiple software providers into a single, unifying supplier in ShareIn.
Shojin Property Partners’ Igor Gorbatsevich, Head of Digital, says: “Due to a combination of circumstances, notably rapid increases in the number of global investors, regulatory change and desire to further streamline our operations, it was the logical step to transition across to ShareIn. Their technology has provided us with a much more integrated infrastructure and enables us to deliver an enhanced investment experience, with more frequent feature updates to our online investment platform.”
ShareIn’s expanded offering comes along with the growth of its team, with plans to increase its headcount to 40 members in 2020.
New Edinburgh Office for Autorek
Scottish fintech AutoRek recently announced the opening of their new office in Edinburgh at Apex One in Haymarket.
Following a very important recruitment push in 2019, a new office was deemed a priority for the 25 year old successful company which provides financial controls, regulatory reporting and data management software solutions.
The new office is just over 5,000 square foot and equipped with the latest technology. It’s ideally built to accommodate for training courses, helping their customers make the most of of their solution.
This follows another move to a new office in Glasgow and 2020 should see their London team being relocated to a bigger office to prepare for growth as the demands from the industry is also rapidly growing.
“After years of sustained growth we are excited to be able to move into a much-needed bigger office space. Apex one in Haymarket is a great location with amazing views. The space is best in class, and we look forward to welcoming our clients to the along for meetings and training days”.
Gordon McHarg, Managing Director
Scottish fintech GiftRound is Fundraising
The Scottish Fintech startup GiftRound is seeking to raise £75,000 (SEIS Pre approved) investment through Crowdcube.
www.crowdcube.com/giftround
Organising a group gift by passing the traditional card and brown envelope around the office is not efficient or effective in an increasingly cashless society. What’s more teams are frequently spread over different locations, home working or overseas.
GiftRound is a new online service that is changing the way people collect money for gifts. GiftRound provides a quick, hassle-free and secure way to collect money for gifts in the workplace and with friends & family. GiftRound customers can easily create a collection, invite people to contribute
and purchase a gift.
Since its launch GiftRound has received nearly 4000 contribution into 350 successful group collections.
“I found using GiftRound so much easier than collecting money for gifts before, particularly as my colleagues are based across the country. I love the transparency and it not going through my own bank account. I’ll be using it again and recommending it to others.”
RBS Office Manager
“GiftRound made the collection for Xmas gifts for our class teachers super smooth this year. Thank you! Have recommended the service to other classes at the school and I’ll be looking into using this at work too.”
Parent collecting for Primary School Teacher’s Christmas gift.
The initial focus for GiftRound was workplace teams in the UK that wanted to celebrate together and show that they care. However, GiftRound has also proven very popular with parents buying a gift for primary school teachers and friends getting together to buy a special wedding gift.
GiftRound is 100% free to use and generates its revenue when customers purchase gifts, gift vouchers or experiences from quality retailers that GiftRound has a relationship with via the GiftRound Store.
GiftRound is seeking to raise £75,000 through Crowdcube to improve the user experience of the platform and integrate a GiftRound Store to provide customers a seamless experience.
www.crowdcube.com/giftround
Edinburgh based fintech crowdfunding for new app
Financial education Scottish fintech MoneyMatiX is launching a fundraising campaign to raise £12,000.
This campaign will support the launch of its KUZAKASH APP using the RBS Back Her Business scheme which pledges to match fund up to 50% of their crowdfunding target. MoneyMatiX was launch by two highly motivated and driven mums passionate about making money management accessible to all.
Financial habits are becoming ever more complex with young people turning to adults for financial guidance but finding them ill-equipped at money management. This led MoneyMatix to develop KUZAKASH, a family finance management APP promoting meaningful financial interactions between children, parents & teachers.
Kuzakash uses visualisation tools to make financial goal setting fun and achievable. Both adults and children can set, track and contribute towards their goals which are used as the educational touch-points to illustrate healthy money habits.
This raise will be used to carry out beta testing of the KUZAKASH APP and a consumer education campaign.
“Financial management skills are one of the most important factors that determine our lifestyle choices. Money is a continuous touchpoint throughout our lives and technology can help make this touchpoint meaningful by enabling people to create healthy interactions with money.”
Tynah Matembe, CEO of MoneyMatiX
“There is an African proverb that says it takes a village to raise a child, but I want to add to it that it takes a family and community to foster good financial habits. In this day and age of influencers, young people should not only be influenced by fashion or talent, but they should also be influenced by skills that will last for a lifetime like financial education. We are building a generation of financially savvy youngsters who will not only impact their communities but the economy at large. We can’t do this on our own! We need your help to build financially capable communities.”
Helene Rodger Co-Founder and COO of MoneyMatiX
To get the matched funding from RBS they need to get at least 100 unique backers for their APP. The campaign will run for 30 days and you can get involved to back KuzaKash here.
New fintech set to transform consumer investment experience
Scottish fintech company Visible Capital announced today it had secured £500,000 seed funding from TechStart Ventures and a group of eight private investors.
They also announced the appointment of Preston Rabl (WPP founder) on their board.
The 3 founders, Richard Braidwood, Ross Laurie and Christian Burgin will launch Visible Capital in early 2020. The solution will use Open Banking to assist clients of intermediaries provide their advisors with controlled access to their financial data in order to receive quicker, more informed advice on financial matters.
“Financial advisers and wealth managers still take information from their clients in paper form ”“ which means the advice they give and the strategies they suggest can only be as good as the immediate information they receive. Visible Capital’s technology allows the intermediary agreed and controlled access to real data about spending needs, wants, savings and borrowing, giving an instantly accurate picture of their clients’ ongoing finances ”“ making the onboarding process quicker and easier, and a lot more precise.”
Richard Braidwood, Co-Founder of Visible Capital
Earlier this year Visible Capital received approval from the Financial Conduct Authority.