Encompass selected for Austrade trade mission
Encompass Corporation, a trailblazing provider of dynamic automation for the Know Your Customer (KYC) process, has been chosen to participate in a significant international trade mission led by Austrade. This mission is dedicated to showcasing the burgeoning FinTech enterprises and forging stronger global connections.
Austrade, the esteemed Australian Government entity responsible for international trade and investment, has joined forces with Investment NSW, Invest Victoria, and Global Victoria. Together, they aim to foster collaboration and shed light on the rapid worldwide growth of the FinTech industry by connecting Australian-born FinTechs with businesses across the United Kingdom and Europe.
The immersive 10-day FinTech Program for 2023 entails informative sessions with the Department for Business and Trade (DBT), UK regulators, prominent banks, and representatives from the esteemed London Stock Exchange. Notably, Encompass and other industry leaders will also participate in key events, including the highly anticipated Money 20/20, scheduled to take place in Amsterdam from June 6th to 8th, as part of Austrade’s delegation.
Encompass’s selection for this opportunity is further reinforced by their recent involvement as a founding member of the Data & Technology for Compliance Alliance (DT4C).
Expressing enthusiasm for international collaboration, Wayne Johnson, CEO and Co-Founder of Encompass Corporation, stated
“Programs like these play a vital role in fueling innovation and sustaining the remarkable growth witnessed not only in FinTech but also across the technology sector as a whole.”
“As an Australian-born enterprise that has rapidly expanded its global presence over the past decade, we comprehend the power of collaboration. It unlocks new avenues of growth for organisations focused on developing and adopting novel technologies and expanding partnerships.”
Anastasia Nishnianidze, Austrade’s Trade and Investment Commissioner to the UK and Ireland, expressed excitement about hosting a delegation of prominent Australian FinTechs in the United Kingdom and the Netherlands in the upcoming month.
“Australia currently holds the 6th position worldwide in FinTech, boasting one of the most dynamic and innovative FinTech ecosystems globally. Our FinTechs offer world-class solutions to global markets,” Nishnianidze noted.
“Austrade’s FinTech Program will provide invaluable opportunities for our Australian FinTech innovators to engage with major European players in the industry, ranging from banks and regulators to investors. We eagerly anticipate facilitating productive collaborations for our innovative Australian FinTechs within the European market.”
Photo by Brett Stone: https://www.pexels.com/photo/people-gathering-outside-sydney-opera-house-2845013/
Accelerator programme to find the next Amiqus
Law firm Addleshaw Goddard has commenced its quest to discover exceptional high-growth tech enterprises to join its AG Elevate program. This program acts as an accelerator, specifically designed to facilitate the expansion of businesses in the technology sector.
AG Elevate, a rapid 10-month program, aims to propel tech enterprises from various industries forward by addressing the legal challenges that commonly arise during their growth phase.
Since its establishment in 2017, the program has successfully nurtured nearly 50 high-growth businesses. Among the select few invited to join AG Elevate in 2019 was Scottish fintech Amiqus that has since flourished tremendously. In fact, Amiqus now provides its innovative solution to Addleshaw Goddard.
Amiqus is a leading compliance platform that assists businesses in digitally managing the onboarding and compliance processes for both new clients and staff. As one of the United Kingdom’s fastest-growing fintech companies, Amiqus was conceived when its CEO and founder, Callum Murray, recognised a significant market gap. He sought to provide a solution to the complex, time-consuming, and expensive compliance challenges faced by businesses across various sectors.
Today, Amiqus excels at helping regulated businesses and organisations, including law firms, overcome practical obstacles in compliance and digital onboarding of new clients and staff.
Entrepreneurs understand all too well that the journey from a groundbreaking idea to building a successful, sustainable business is riddled with difficulties and rarely follows a linear trajectory. For Amiqus, specialising in the legal sector, the opportunity to participate in AG Elevate arrived at the ideal stage of their growth journey.
Amiqus applied for a place in the program and was chosen by an impartial panel to be part of the 2019 cohort. This stroke of fortune allowed Amiqus’ product to gain invaluable insights into the workings of an international law firm.
As part of the cohort, Amiqus was paired with a legal mentor and provided with a comprehensive package of legal support. Successful applicants also gain access to professional industry networks, tailored resources developed by AG, and opportunities to forge connections with like-minded individuals and businesses in the tech ecosystem.
This transformative experience began in June 2019. Since then, Amiqus has witnessed a doubling of its annual turnover and an expanded client base, which now includes some of the foremost organisations and professional services firms in the country. Additionally, Callum has recently been nominated as a regional finalist for EY’s Entrepreneur of the Year award.
Callum Murray, CEO of Amiqus, expressed his gratitude for the Elevate program, stating,
“The Elevate program not only provided us with invaluable support and insights but also connected us with a fantastic peer cohort of high-growth companies from across the UK. It’s truly the icing on the cake to come full circle and now support Addleshaw Goddard with our software, particularly in the field of law and technology.”
Dave Anderson, co-lead of the AG Elevate program and Addleshaw Goddard Partner who served as a mentor to Amiqus during the accelerator, commented,
“It’s wonderful to witness another success story emerging from the program, and notably, the first where AG has become a client. Callum and his team have thrived, and it’s fantastic to see AG Elevate playing a small role in their journey. Our team of legal mentors possesses a comprehensive understanding of the priorities and potential obstacles faced by rapidly growing tech businesses, offering AG Elevate members significant benefits beyond legal expertise.”
Photo by Bakr Magrabi: https://www.pexels.com/photo/compass-on-hand-3203659/
Amiqus to run Edinburgh Marathon for Scottish Refugee Council
Scottish fintech Amiqus, a prominent provider of compliance and onboarding services in the UK, is eagerly preparing to participate in the upcoming Edinburgh Marathon Festival. Their participation aims to raise funds for the Scottish Refugee Council (SRC), an organisation dedicated to providing practical assistance and guidance to refugees and asylum seekers in Scotland, particularly those who are financially and socially vulnerable.
During the Edinburgh Marathon Festival on May 27th and 28th, the dedicated members of the Amiqus team will collectively cover a distance of over 147 miles through their running efforts. In addition to their physical contributions, the company has pledged to match the funds raised, ensuring a substantial donation to the Scottish Refugee Council.
Amiqus is reaching out to individuals and organisations, urging them to contribute to their fundraising campaign and support the vital work of the SRC. Together with the SRC, Amiqus endeavors to make a meaningful impact on the lives of those who seek refuge and strive for a better future.
When refugees arrive in Scotland, they often encounter numerous obstacles when accessing essential services and assimilating into their new communities. Earlier this year, the Amiqus team actively participated in the New Scot Leadership event organised by the SRC in Glasgow. During the event, they provided laptops to the attendees, aiming to equip them with the necessary tools to navigate online resources, communicate with support organisations, and access vital information.
By supporting the beneficiaries of the SRC with essential IT equipment, Amiqus strives to empower them in their journey, enabling them to overcome challenges and build a hopeful future. Callum Murray, the founding CEO at Amiqus, expressed his firm belief that everyone deserves a safe home. He emphasised the importance of businesses stepping up to support organisations like the Scottish Refugee Council, acknowledging the difficult decisions they face in allocating vital services that cannot be replicated elsewhere.
Dr. Sabir Zazai (OBE, FRSE), the Chief Executive at the Scottish Refugee Council, expressed his appreciation for the collective efforts of various actors in Scottish communities, including those in the corporate sector. He recognised their dedication in supporting refugees and asylum seekers as they navigate the challenging and stressful period of their lives, embracing their new identities as Scots.
Snugg secures funding to create greener future
Snugg, the groundbreaking online service dedicated to facilitating energy-efficient homes for all, proudly announces the reception of a substantial grant from the Green Home Finance Accelerator (GHFA), an initiative by the UK Government. The GHFA, funded through the Net Zero Innovation Portfolio (NZIP), aims to promote the advancement of green finance products. This funding will be utilised to develop a pioneering ‘Green Home Hub’ (GHH), designed to enhance finance providers’ understanding of customers exploring investments in home energy enhancements, such as solar panels and heat pumps, and to offer more appropriate products.
Snugg’s ultimate goal is to ensure that energy-efficient homes become accessible and affordable to everyone. The GHFA grant represents a significant stride towards accomplishing this mission. Aligned with the UK Government’s commitment to achieving net-zero carbon emissions, the GHFA initiative selected Snugg as one of 26 Discovery Phase projects nationwide, contributing to this crucial cause. Snugg’s participation in the GHFA demonstrates its dedication to creating a more sustainable future for the UK.
The forthcoming Green Home Hub represents an innovative approach to supporting Snugg’s partners, including banks and energy providers. It will provide valuable data insights, including:
- Accurate cost estimates (as high costs often deter people from implementing energy efficiency measures)
- Grant application wizard (to simplify the complex and challenging process of applying for grants)
- House value impact modeling (considering the significant impact on house prices when deciding on home energy improvements)
- Progress tracking and guidance (to instill confidence in substantial investments for energy efficiency improvements)
- Fuel savings monitoring (establishing a feedback loop through smart meters, enabling gradual implementation of efficiency plans)
- Carbon reduction tracking (offering financial benefits to individuals contributing to carbon reduction)
The Green Home Hub will be licensed to partners, allowing Snugg to extend its influence and make a substantial environmental impact by reaching thousands more homeowners throughout the UK.
By addressing the barriers homeowners face when contemplating energy-efficient upgrades, the Green Home Hub aims to empower financial providers to better understand their customers and develop more suitable products, ranging from mortgages to savings accounts. The objective is to transform energy-efficiency upgrades into a clear choice rather than a convoluted decision.
Snugg eagerly seeks collaboration with decision-makers in the finance, energy, and related sectors who are interested in utilising the Green Home Hub to support their customers’ transition to more energy-efficient homes. Interested parties are encouraged to reach out and join Snugg in turning this vision into a reality.
Lord Callanan, Minister for Energy Efficiency and Green Finance, commented, “The government has established long-term commitments to ensure homes across the country improve energy efficiency, reducing bills, energy consumption, and emissions. We are supporting these organisations in developing fresh and innovative approaches to provide greater access to energy efficiency measures like loft insulation, double glazing, and heat pumps.”
Snugg CEO, Robin Peters, expressed enthusiasm, stating, “Securing the Green Home Finance Accelerator grant is a thrilling milestone in our mission to make home energy efficiency simple and accessible to all. With the development of the Green Home Hub, we are poised to revolutionise the perception of home energy investment, transforming it from a seemingly impossible decision to an absolute no-brainer. We have already aligned our efforts with key players like Trustmark, Nesta, and HSBC. Now, we eagerly seek collaboration with additional industry participants as we strive to reach thousands more homeowners and accelerate our collective journey towards achieving Net Zero.”
For further information, please contact: sophie.leang@snuggenergy.com, Tel: +44(0)7496 534 611.
DirectID and Smoothpay to provide stable income to freelancers
Scottish fintech, DirectID, the global credit and risk platform, has recently formed a strategic partnership with Smoothpay, a fintech startup that converts unpredictable income into a dependable paycheck. By leveraging DirectID’s open banking platform, Smoothpay will now offer freelancers, contractors, and small business owners a reliable monthly income.
Smoothpay’s solution aims to remove the anxiety associated with erratic pay schedules, enabling people to pursue the flexible work they desire. By utilising real-time and historical income data through open banking, Smoothpay guarantees gig economy workers a level of certainty, ensuring a consistent income stream.
DirectID’s income verification tool, powered by open banking, is utilised to evaluate the earnings of small business owners and freelancers. Once users undergo a quick 30-second connectivity process, Smoothpay can rapidly analyse up to a year’s worth of customer earnings. As a result, individuals can promptly sign up for the service and start receiving their “Smoothpay” without any delay.
Henry Oakes, Founder of Smoothpay, said:
Reliable income analysis is at the heart of Smoothpay, but so too is a smooth (ahem) and trustworthy customer experience. We wanted our customers to find out their Smoothpay within a minute or so of signing up – and we’ve managed to achieve this with minimal fuss by integrating DirectID into the app.
Clare McCaffery, Chief Commercial Officer, DirectID, said:
When I first heard about Smoothpay, I instantly understood the role open banking could play in helping freelancers earn a stable income. Our mission has always been to promote financial inclusion ”“ that means to help people access the products they need, and help the providers to provide them. The world of work has transformed in recent years, and this is an incredible opportunity to use open banking to support those without a traditional salary for the first time.
The Centre for Finance, Innovation and Technology recruits
The Centre for Finance, Innovation and Technology (CFIT) is delighted to reveal that it has teamed up with Recruit121, a worldwide expert in talent acquisition within the finance and technology industry, to locate its core senior leadership squad.
CFIT’s objective is to remove the obstacles to expansion in financial technology, and the achievement of this goal depends on creating a robust and efficient leadership unit.
The roles are:
Head of Talent, Engagement & Placements
Director of Coalitions & Research
Director of Ecosystem & Partnerships
Ezechi Britton, CEO of CFIT, commented,
“The Centre for Finance, Innovation and Technology (CFIT) is extremely pleased to announce that we have partnered with Recruit121 in order to source our core leadership team. These first few roles are critical to making CFIT a success and to carrying out our mission to unblock the barriers to growth for financial technology.”
FinTech Scotland is recruiting a Strategic Innovation Director
FinTech Scotland is recruiting for a new role, the Strategic Innovation Director, who will be responsible for leading and evolving the innovation strategy outlined in the FinTech Research and Innovation Roadmap. This appointment is vital and will drive the strategic direction of fintech innovation in Scotland, working across all priority stakeholders and alongside FinTech Scotland’s CEO to advance the fintech opportunity in Scotland and the UK.
The role of the Strategic Innovation Director is critical in the future development of the cluster, building on successes so far and leading the cluster’s innovation strategy and its implementation. Specifically, the StrategicInnovation Director will initially be responsible for establishing a new fintech centre for innovation that focuses on innovation in Financial Regulation ”“ The Financial Regulation Innovation Lab. This project is critical and supported by the UK government, large financial and professional service institutions, regulators, fintech entrepreneurs, and universities.
The Strategic Innovation Director will implement an industry-led strategy and work in partnership with leaders across the cluster to enable the success of the Financial Regulation Innovation Lab. They develop a program of work that will help advance responsible innovation and technology adoption in financial regulation, developing and growing strategic relationships with professional and financial services, regulators, and academia, managing multiple stakeholders’ interests, leading collaborative cross-sectoral actions to advance common opportunities and challenges, supporting delivery of the broader FinTech Scotland strategy. Working as part of the FinTech Scotland senior leadership team they will drive continued fintech cluster excellence.
In summary, this new role of the Strategic Innovation Director is vital for the future development of FinTech Scotland, driving innovation strategy and its implementation, and establishing the Financial Regulation InnovationLab in collaboration with the industry’s leading stakeholders. The successful candidate for this role will bring leadership, business skills, and the ability to work collaboratively with leaders across the cluster to ensure the success of this critical project. The role provides a unique opportunity to play a part in shaping the future of finance and fintech in Scotland and across the UK.
Interested or know someone who could be?
Fintechs DirectID and Faciit partner to make accessing credit easier
DirectID, the global credit and risk platform for risk managers, has announced a partnership with Faciit, an alternative lending solution for individuals without a UK credit history. This partnership utilises DirectID’s open banking insights to assist people with new-to-country status in accessing affordable credit.
Faciit’s save-to-borrow solution operates by requiring users to save one-third of their loan requirements for a minimum of three months. Following this, Faciit provides the remaining two-thirds as competitive loans. Faciit distinguishes itself from traditional lenders by not relying solely on bureau data to make credit decisions. Instead, the company employs DirectID’s income verification, using open banking data to determine whether an individual can afford to repay the loan.
James Varga, CEO & Founder of DirectID, said:
We’re delighted to partner with Faciit to help new-to-country individuals access affordable credit using DirectID’s open banking-powered insights. The partnership is perfectly placed alongside our mission to promote financial inclusion and responsible lending practices. By using open banking, we can enable better access to financial services for everyone, regardless of their credit history or financial status.
The partnership between DirectID and Faciit is rooted in their shared mission to promote financial inclusion. Faciit aims to provide new-to-country status individuals with the loans they need to achieve their financial goals, while DirectID believes everyone should have access to the financial services they need.
Olaolu Olaleye, CEO & Founder of Faciit said:
Our name Faciit means we facilitate it, and it sums up our mission to help create financial possibilities for those who will struggle otherwise. We are excited to partner with DirectID to deliver our complimentary missions of enabling financial inclusion.
GiftRound and Mangopay strengthen partnership
GiftRound, the specialist platform for group gift collection, has announced an enhanced partnership with Mangopay, a platform-specific payment infrastructure provider, to handle all payment flows on the platform. This partnership was established in 2018, at the inception of GiftRound, which has thus far processed over £10.5 million through more than 75,000 money pots using Mangopay.
GiftRound offers a secure, dependable and user-friendly online service that facilitates group gift collection. The platform’s aim is to bring people together to celebrate and revive the pleasure of giving gifts in groups for the collector, the donor, and the recipient. Presently, there are over 800,000 users for 125 daily created GiftRounds.
The management of payment flows is central to GiftRound’s service. The company required a robust payment provider to process intricate payment flows. Mangopay’s expertise and capabilities were a perfect match for this purpose, with a long track record of working with platform-specific businesses, including crowdfunding companies. With Mangopay’s API, GiftRound can ensure secure money collection, fraud prevention and anti-money laundering measures, all of which are vital for the platform. Mangopay also offers KYC processes alongside secure and diverse payment methods.
Moreover, GiftRound will now incorporate Mangopay’s e-wallet modular technology, which will add an extra layer of protection and security before dispersing funds to the recipient. This functionality will provide flexible and scalable pay-in and pay-out capabilities, which are crucial for the platform and GiftRound’s commitment to delivering dependable and seamless payment experiences to customers.
Craig Forsythe, CEO & Founder, GiftRound highlights:
“Having started this journey with Mangopay in 2018, we’re delighted to continue working together. Payment flows are crucial for us as we work on maintaining our high levels of growth by listening to our customers to improve their payment experience on our platform. It is key for us to work with a trusted partner and we know that crowdfunding payment flows are part of Mangopay’s DNA. Mangopay will enable us to process multiple payment flows daily in the safest way possible and we look forward to continuing to grow a reliable, secure service with our trusted partner.”
Luke Trayfoot, Chief Revenue Officer, Mangopay declares:
“Our modular and flexible payment infrastructure is a necessary asset for platforms, especially as they look to further improve their payment operations, user experience and scalability. We are proud to support GiftRound on its payment journey and help their customers organise gift collections quickly and easily. The UK represents a key growth market for Mangopay and having national partners such as GiftRound is fundamental for our expansion in the market.”
Bravura double win at pensions age awards 2023
Scottish fintech Bravura is delighted to announce two award wins at this year’s Pensions Age Awards.
Taking place on 21 March 2023 in London, the Bravura team brought home trophies for Best Marketing Campaign and Pensions Personality of the Year for its Principal Consultant and Pensions Specialist, Jonathan Hawkins.
After working more than 25 years in the pensions space, Jonathan joined Bravura in 2018 and has worked within the Group ”“ including its subsidiary Delta Financial Systems ”“ to expand the company’s offering in the pensions space. This includes him leading a highly skilled mixed team of developers, consultants, testers, infrastructure, service design and more across the globe to design and build its industry-leading Integrated Service Provider (ISP), Dashboards Connect, as well as acting as a vital source of inspiration for the industry to challenge the status quo and use dashboards to effectively digitise the industry and bring substantial benefits to individuals and firms once dashboards are available to the public.
Last year, Jonathan took a leading role in the company’s Pension Dashboard Week initiative, which also secured gold for Best Marketing Campaign of the Year. The campaign, which saw more than 1,500 industry participants register for its awareness raising week, aimed to inspire the pensions industry to think beyond the upcoming Pensions Dashboard Programme staging deadlines and focus on the benefits the regulation could bring to both providers and individuals. The campaign featured a range of talks, webinars and Q&As, designed to inspire and educate Pension Providers, Schemes, TPAs and Wealth Platforms about what is involved and required to connect to the pensions dashboards ecosystem, whilst also highlighting how best-in-class technology can turn the possibilities that dashboards present into reality.
Jonathan Hawkins, Principal Consultant and Pensions Specialist, said:
“I’m obviously over the moon to be named Pensions Age’s Pensions Personality of the Year. I’ve been following the development of the pensions dashboards programme for at least seven years now and it’s a hugely exciting initiative to be part of and help the industry take one step closer to the holy grail of open finance as well as encourage people to better understand and engage with their pensions. It’s not just a huge privilege for me, but a massive validation for the entire talented Pensions Dashboards project team at Bravura and our subsidiaries Delta Financial Systems and FinoComp, who have all been instrumental in creating our scalable ISP microservices ”“ Dashboards Connect ”“ and leading the industry with our innovative and inclusive events. The digitisation of pensions is coming, and I’m excited to be at the vanguard of that revolution and commit to further helping the industry imagine the future.”
Justine Pattullo, Marketing Manager EMEA, added:
“Despite our rich history in pensions in Australia and Delta having more than 30 years’ experience in the UK SIPPs market, this is relatively new territory for Bravura and a fantastic achievement to celebrate two wins at one of the industry’s most prestigious awards. This all in-house-created campaign brought together deep expertise from right across our business and showed how we are able to break into new ground as a Group using the huge amount of talent we have within the business. Huge thanks to all the team for helping to make this happen.”