How to maintain quality CX in tough times

Few sectors have experienced a greater boom in recent years than the FinTech industry. From a time when the banking and financial services market was dominated by a handful of traditional brick-and-mortar banks, today’s consumers are increasingly attracted to the convenience of real-time, 24/7 solutions offered by a range of neobanks, payment apps and other FinTech innovators. So rapid has been the rise that it is no surprise PWC has reported that 88% of incumbent financial institutions believe part of their business will be lost to standalone FinTech companies in the next five years.

For all the good news though, the FinTech industry is not immune to two issues creating headaches for the corporate world – budget pressures and access to talent. Amid soaring inflation, supply chain issues and the lingering impact of the COVID-19 pandemic, many businesses are looking to reduce costs in preparation for the likelihood of rocky roads ahead. Simultaneously, a global labour shortage is making it increasingly difficult for firms to attract and retain talent. Given such pressures, FinTech companies need to think outside the square to ensure they maintain the strong foothold they have gained in the market.

One of the areas most at risk of slipping when budgets are cut and staff turnover increases is customer experience, which is bad news as it is also among the most pivotal reasons for attracting the modern consumer. Research has found that 86% of people are willing to pay more for great customer service, just as 69% of customers who plan to leave their financial institution say it is due to poor service rather than poor products.

Amid all the talk of cost-cutting and labour shortages though, all hope is not lost and that is because there are various ways for FinTech companies to approach operations differently without sacrificing customer experience – and, in many cases, even improve it. This includes tapping into the benefits of outsourcing to revolutionise contact centres, enhance back-office efficiencies or handle the often emotive field of credit and collections.

Along with allowing in-house staff to concentrate on what they do best through outsourcing non-core business functions, the innovative workforce strategy can deliver labour cost savings of up to 70% due to the lower cost of living in offshore hubs such as the Philippines. Alternatively, many organisations prefer onshore solutions that provide similar access to many benefits of outsourcing and keep operations closer to home.

Digital transformation is also rewriting the customer experience script, with many FinTech firms using technology to deliver productivity gains while offsetting workforce and budget pressures. From artificial intelligence and robotic process automation to interactive voice response and virtual agents, there are an increasing number of tools and solutions available to create more seamless and enjoyable customer journeys and, in turn, boost profits. In a world where people not only expect but demand 24/7 support and faster interactions, technology is the key to ensuring they receive it.

As disruptors by nature, FinTech companies have used innovation and enterprise to not only break into the banking and finance sector but shake it up. For the same reason, they should view the current economic and labour climate as an opportunity rather than a threat. There are smarter ways to do customer experience and combining the power of outsourcing, strategy and technology is a sure-fire way to navigate a better path through the current landscape.

To learn more, visit www.probegroup.com.au/industries/banking-finance

How WNS is Becoming a Trusted Partner for FinTech Companies

FinTechs come in all shapes and sizes, from neobanks like Monzo and Chime to payments apps like Venmo and Stripe. Despite occupying differing niches in the Banking and Financial Services (BFS) market, they are all focused on one thing: innovation. 

However, as FinTechs scale up operations, they face a host of regulatory and business challenges. These include complexities arising from increasing back-office activities, support teams and networking requirements. Managing such administrative obligations while continuing to focus on innovation can be overwhelming. 

Service providers are now stepping in to solve this dilemma. Take WNS for instance. This well-known provider of business process management solutions is helping FinTechs grow business operations while retaining their focus on market innovation. 

HFS Research caught up with WNS to find out what’s enabling them to become a partner of choice for disruptive clients.

A Differentiated Offering

WNS has proven strengths in areas such as analytics, finance and accounting, and procurement as well as deep industry expertise in key sectors. Over the past few years, it has been investing in its proposition for FinTech firms.  

WNS has developed a solution that supports fast-growing FinTech firms. This modular suite of banking solutions has been designed to enable FinTechs to efficiently manage, streamline and scale up operations. Powered by a combination of analytics, robotic process automation, artificial intelligence and machine learning, the suite addresses the FinTech business imperatives of operational control and governance, cost optimization, customer experience, regulatory compliance and digital transformation. 

WNS’ nimble approach is already showing results. The partnership with Varo Bank is a case in point. This digital neobank was the first of its kind to be granted a national bank charter in the US. It was poised for massive growth and needed a trusted operations partner. WNS rose to the challenge. The Varo-WNS engagement includes critical back-office tasks such as Anti-money Laundering (AML) sanctions screening, account maintenance, exception handling and communications management. And Varo is currently looking at expanding the engagement. 

If the success of this partnership is anything to go by, WNS is well-positioned to capitalize on this expanding and lucrative area of the industry, delivering real value to growing FinTechs.

To know more, read HFS’ report on WNS and its FinTech strategy

Australia: home to a booming fintech industry

Australia’s booming fintech sector has fast become a global hub for fintech activity. Recent statistics show the industry has witnessed a five-fold increase in the number of fintech companies in just five years, now worth more than US$4 billion (AU$ 5.87 billion) and ranking sixth globally, as well as second in the Asia Pacific region.

But what makes Australia a ripe environment for fintech innovation? Several factors play a part – Australia benefits from a rich ecosystem that is diverse and multinational; the region is home to a range of startups and scaling companies across several different fintech subsectors, and its readiness to take on new businesses has attracted record investment levels.

Demand in the region has also been a key influence. Australia has been an early adopter of financial services innovation and technology, allowing fintech companies to rapidly scale and embrace new digital models and payment solutions to meet growing consumer interest.

Regulation to support innovation

Australia’s payments regulation is being overhauled –allowing for greater transparent access to fast payments infrastructure.

This, in return, will allow fintech startups to innovate, create new offerings, and drive strategic partnerships with international companies for greater transparency in payments and frictionless experiences for consumers.

Sanjeev Kumar, chief product officer at Zai, an Australian-based global fintech company delivering embedded finance orchestration, believes a guiding principle of the sector’s growth is that regulation has enabled innovation.

“Regulators have been proactive and nimble in terms of their decision-making to bring in greater innovation and launch the right products at the right time,” he says.

“Australia has experienced tremendous growth over the last few years. The financial industry is a completely different spectrum altogether – from developments in challenger banks and merchant payments, there is a multitude of successful platforms disrupting within the sector, and fintechs are now given the foundation to launch these platforms for a quick adoption in the market.”

International hub for global talent

 recent EY survey found the talent market in Australia is growing significantly year on year, despite setbacks and an increase in talent shortage amid the Covid-19 pandemic. In the last 12 months alone, 88% of Australian fintechs generating revenue overseas have created new jobs as a result.

“I’d say one of the biggest assets that Australia has is its talent pool,” says Kumar. “The growing fintech sector is continuously attracting multinational talent from across the globe, with Australia conveniently located on the doorstep of Asia, a key market for innovation within fintech and payments, making the region a great location for talent looking to relocate.”

And it is clear to see why – Australia has a significant pool of tech professionals, and people with deep financial services expertise. The region is also integrated with financial ecosystems around the world, with both Australian companies going abroad, and international companies expanding into Australia.

Kumar adds this plays into the hands of companies looking to expand their regional headquarters and explore partnerships with overseas firms.

“Another key driver of drawing in talent is the ease of doing business in Australia. Licensing regulatory hurdles are not as stringent if businesses have their policies and processes, and it is relatively easy to get the necessary licenses to operate within the payments sector.”

Zai’s expansion was aided by the Australia’s Trade and Investment Commission (Austrade). Providing on-the-ground advice, Austrade was able to provide Zai with the connections it needed within its target market while helping the fintech gain a better understanding of the local business landscape.

Capital investment soars

Australia’s overall capital raise for startups and businesses has been recognised on a global scale, with 44% of companies having raised over US$10 ($AU 14.68) million to date and 14% having raised over $100 million.

Also, 88% of Australian fintechs that are three years or older and 81% of fintechs two years or older are also now post-revenue, showing a promising sign of the sector’s continuing maturity and growth.

A further 40% of fintechs within Australia are now generating revenue from overseas, with 18% getting more than half their revenue from international customers. “It is the perfect triumvirate with the government, regulators and businesses all aligned,” says Kumar. “They have created the infrastructure and foundation for innovation.”

Disruption in the payment sector

Australia’s largest segment within the fintech sector was recorded to be within digital payments, with e-wallets and the supply chain part of the most common type of fintech (43%), followed by lending (30%).

The sector’s total transaction value is forecasted to be US$92 billion (AU$135 billion) in 2022, with the number of users in this sector also expected to grow significantly to hit 21 million users by 2026.

Other sectors are also growing fast, including ‘buy now, pay later’, open banking, insurtech and decentralised finance.

“The buy now pay later sector came into Australia around five years ago. Now we have a myriad of Australian startups disrupting within the sector, both locally as well as globally to ultimately disrupt within a much bigger ecosystem,” says Kumar.

There have been several fintech partnerships too – Pollinate teamed up with National Australia Bank to provide a tech platform for smoother banking for small and medium sized enterprises (SMEs).

Proactive jurisdiction

The Australian government has taken a more proactive stance to encourage competition and innovation in financial services too,

The recent Consumer Data Right (CDR) Bill by the Australian Parliament has cultivated the open banking and payments sector, which will likely advance the digitalisation of the country’s banking sector.


The Australian Trade and Investment Commission (Austrade) accelerates the growth of exporters, attracts foreign investors, and stimulates the visitor economy.
To discover how Australia’s fintech brilliance can help your business, visit austrade.gov.au/fintech

DNX Whitepaper: Data Modernisation, your ticket to the future

DNX has launched the Data Modernisation Solution, a customised and comprehensive solution for businesses that want to make the most of their data.

Data is essential for setting and managing business goals. After running Data Solutions we’ve had many clients express how impressed they are with the insights and metrics being generated in real-time. But with DNX, insights are only the tip of the data modernisation iceberg.

Find out how you can benefit from data modernisation by watching our video.

Watch here

Data Modernisation is vital to all industries in today’s world, but it doesn’t happen overnight. Preparing your business for data modernisation is a multi-step process. If you want to learn more about Data Modernisation in FinTech, our White Paper is a must-read. Download it for free here

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The Risks and Benefits of Data Modernisation, more than just insights.

Cost of Data Breaches

While we were all distracted by the pandemic, hackers were taking advantage. The average cost of a single data breach jumped from US$3.86 million in 2020 to a shocking US$4.24 million in 2021. Estimates suggest that 30% of Australian companies will fall victim to a breach, the consequences of which can be felt for years. Find out how to recognise threats and protect your business in 2022 and beyond, read our Data Breach article here

Data Dependency

Despite receiving huge amounts of incoming data on a daily basis, many businesses fail to consider the potential consequences of mass-storage on a single database. Legacy infrastructures become more out of date every day and can cost your business valuable time and resources. Find out how DNX can improve the way you store and access data by reading our data dependency article here


Data Modernisation in Practice

No matter the sector, data is important. DNX helps businesses from all sectors to overcome challenges and get a handle on their greatest asset, giving them space to grow and focus on what is most important. Check out our diverse case studies to see our step-by-step processes in industries such as Healthcare, FinTech and Telecommunications.


What’s Next

DNX has the modernisation journey you’ve been waiting for.

Don’t wait for the future to pass you by, contact us today!

Get in touch

 

CEO Sleepout

On 23 June 2022, leaders in business, community and government will once again sleep without shelter on one of the longest nights of the year to help change the lives of Australians experiencing homelessness. 

 

Homelessness is one of the key issues of our time and it doesn’t discriminate. Approximately 116,000 Australians of all ages and backgrounds will experience homelessness on any given night.  Attending the Vinnies CEO Sleepout will give you the opportunity to understand a little more about what Vinnies does to address this issue whilst raising money to help fund vital services for homelessness around NSW.

On the night, you will come together and meet with other like-minded business and community leaders who are looking to lead by example. You will also gain new insight through listening to the personal stories of people who have previously or are still experiencing homelessness and disadvantage. 

If you would like to nominate a peer or colleague, you can do so here:

https://www.ceosleepout.org.au/home?lightbox=/nominate-lightbox

 

If you would like to register, you can do so here https://www.ceosleepout.org.au/home?lightbox=/register-lightbox2022

and if you have any questions at all please reach out to the event manager, Katrina Ortolan – katrina.ortolan@vinnies.org.au

 

Envestnet | Yodlee onboards WeMoney as first Open Banking Solution Customer in Australia

Envestnet® | Yodlee® – a leading data aggregation and analytics platform powering dynamic, cloud-based innovation for digital financial services – has today begun onboarding Australian personal finance financial wellness and budgeting app, WeMoney, as its first existing customer to move from traditional data aggregation to Envestnet | Yodlee’s fully accredited and “Active” Open Banking solution Fastlink 4. The partnership with WeMoney becomes one of the first Outsourced Service Provider (OSP) and Accredited Data Recipient (ADR) relationships under Australia’s Consumer Data Right (CDR) regulation, which is a significant step in Australia’s open banking journey.

FastLink 4 User Interface, which soft launched in Australia in October 2021, has made Envestnet | Yodlee the first provider with two distinct advantages in-market: access to the most comprehensive CDR and non-CDR data sets, and access to multi-country, global open banking connections in regions including the UK and the U.S.

Envestnet | Yodlee’s FastLink 4 is the latest version of the user interface that enables consumers to securely and easily connect all their financial accounts in seconds, allowing financial service providers (FSPs) to optimise consumer experience. FastLink 4 supports Open Banking, complimenting the company’s existing data aggregation capabilities. This enables FSPs to access both CDR and non-CDR data, and offer personalised digital banking, lending, verification, and financial wellness experiences that rely on aggregated data. The result of this hybrid approach to data provisioning, is that Envestnet | Yodlee can provide the broadest coverage of financial data in the local market, including data streams such as superannuation, which are not yet covered under Australia’s CDR.

“FastLink 4’s presence in the Aussie market and onboarding WeMoney as Envestnet | Yodlee’s first local Open Banking customer marks an important milestone in our Open Banking journey,” said Tonia Berglund, Director of Product at Envestnet |Yodlee. “We are now able to provide a truly hybrid solution – meaning that Australian financial organisations like WeMoney can tap into both CDR and non-CDR data sets under one roof: the perfect solution during these early stages of CDR.”

Berglund continues, “Because of our size as an organisation as well the 20 years’ experience in aggregating data, we are able to offer the advantages and experience of a large company alongside some of the broadest data coverage and support available in the market.”

Speaking about becoming the first customer of FastLink 4 in Australia and following WeMoney’s recent CDR accreditation, Founder & CEO at WeMoney, Dan Jovevski, said: “The WeMoney Community and our team are incredibly excited about the direction of the Consumer Data Right and how tools like FastLink 4 will empower consumers to take advantage of more streamlined ways to improving financial wellness. We are very optimistic about the future developments in this space and the expansion of our partnership with Envestnet | Yodlee.”

Minister for Superannuation, Financial Services and the Digital Economy, and Women’s Economic Security, Jane Hume said, “This is an exciting development and demonstrates the importance of the changes to rules introduced last year to increase participation in the CDR and the direct flow-on benefits to consumers. New CDR-powered apps that support financial wellness will help grow Australia’s financial literacy.”

Envestnet | Yodlee has been a collaborative partner in shaping Open Banking and open finance technologies and policies across the AU, UK and U.S. and holds a unique position in being able to support companies of all sizes – from large banks to the smallest FinTechs – to innovate and best serve their customers both domestically and overseas.

This announcement follows a number of new regulatory developments unveiled by the Australian government that will allow for increased participation in the country’s Open Banking regime. The six new accreditation models will reduce barriers to participation by enabling organisations to securely access CDR data via accredited providers, such as Envestnet | Yodlee, without needing to become accredited data recipients themselves.

Temenos Named a Leader in Digital Wealth Management Platforms by Independent Research Firm

Temenos positioned the furthest for its wealth management product strategy and strength of its offering.

Temenos, the cloud banking platform, has been named a leader in The Forrester Wave™: Digital Wealth Management Platforms (DWMP) for Q1 2022.

Temenos received the highest scores in the strategy and current offering categories. The report states, “Temenos excels in most areas of product functionality…”, and “its innovation hub focuses on explainable AI/ML; environmental, social, and governance (ESG) capabilities; digital assets; and advanced analytics”.

The report, authored by Vijay Raghavan, Senior Analyst, Forrester, states: “Temenos’ wealth platform offers broad, off-the-shelf business capabilities along with access to a broad array of third-party fintech solutions. […] Temenos is a good choice for financial institutions worldwide looking for broad business capabilities, strong data and analytics, and a vendor with access to a global partner community and large marketplace of fintech solutions through its Temenos Exchange platform.”

According to the Forrester report, “Temenos stands out for its end-to-end digital wealth management capabilities. As one of the most established vendors in the DWMP space, Temenos’ knowledge of different markets has given it a diverse customer base in Europe, APAC, the Middle East, and Latin America, with a target of increasing market share in North America. Temenos excels in most areas of product functionality and has a roadmap and planned enhancements to ensure they will continue to do so.”

The Forester Wave™ evaluates the 12 most significant digital wealth management platform vendors against 27 criteria according to their current offering, strategy and market presence. Temenos received the highest possible score for various categories of the evaluation, including the Customer Experience, Execution Roadmap, Partner Ecosystem, and Planned Enhancements categories.

Max Chuard, Chief Executive Officer, Temenos, said: “We are proud of our leadership in this Forrester Wave, which is a testament to our continued investment in wealth management technology. With narrowing margins in retail, banks are focusing on wealth management in search of higher returns and business model diversification. The industry is also seeing a rapid change with a global generational transfer of wealth, steady growth of high-net-worth individuals, new asset classes, and new regulations. With superior digital customer experience, hyper-personalized services and highly automated processes powered by Temenos, these trends present real opportunities for wealth management firms to retain customers and attract a new generation of investors.”

Temenos believes that this position as a leader reflects Temenos’ commitment to wealth management and its global success serving some of the world’s largest wealth management firms. With Temenos Wealth solutions, banks can differentiate with hyper-personalized digital and human customer interactions. At the same time, wealth management firms can drive efficiencies through core automation and cloud technology.

Applications now open for London Tech Week Australia & New Zealand Trade Mission 2022

The UK Government, in conjunction with Australian and New Zealand national and state government partners, are thrilled to announce that London Tech Week (LTW) is back, in person, in London from 12 to 17 June 2022! Aussie and Kiwi tech scaleups will have the opportunity to join the first physical trade mission to LTW since 2019.

Applications to be a delegate on our trade mission are now open. Don’t miss this exciting opportunity to participate in a curated programme of tailored events, networking opportunities and site visits across London during London Tech Week. Apply now.

London Tech Week (LTW) is Europe’s largest technology festival gathering the world’s most inspirational founders, global leaders, senior investors and rising stars to collaborate and discuss the vital role of technology in society.

In 2020 and 2021 we saw an incredible 20,000+ attendees from across the globe for virtual LTW programmes, featuring 750+ leading speakers and innovators.

This year’s trade mission has been designed for Aussie and Kiwi scaleups in the following tech sectors who are considering expansion to the UK:

  • Future Technology – including artificial intelligence, big data and cyber security.
  • Educational Technology
  • Digital Health – including medtech and medical devices.
  • Financial Technology

Trade mission highlights:

  • Pre-mission briefing in May 2022 to network with other tech delegates in the lead-up to our travel to the UK
  • Access to a week-long programme of events from Sunday 12 June through to Friday 17 June
  • Hear from Trade Commissioners, Ministers and leaders from the tech ecosystem as they showcase UK opportunities
  • Attend roundtables, site visits, networking receptions and information sessions, including information on capital raising, brand building and accessing the UK market
  • Work with the UK Government to leverage support services and fast-track plans for a UK market entrance

There is no charge to join our ANZ programme or London Tech Week, but flights and accommodation are not included. Applicants will go through a competitive selection process based on readiness for UK expansion.

Open to Australian and New Zealand companies only. Victorian companies have been invited to apply via Global Victoria which is now closed.

Applications close on Tuesday 19 April 2022.

Good luck with your application!


Louise Cantillon
British Consul-General & Deputy Trade Commissioner APAC (Australia & New Zealand)
UK’s Department for International Trade

APPLY NOW

Visa launches program to help creators navigate NFTs

One-year immersion program will bring together a global cohort of creators interested in building their business with NFTs

Right now, some 50 million artists, musicians and creators of all stripes publish content as a full- or part-time source of income1. With an estimated market size of more than $100 billion2, the creator economy is one of the fastest-growing categories of small business3.

To support this growth, today, we’re launching the Visa Creator Program, an initiative that aims to help digital-first artists, musicians, fashion designers, and filmmakers accelerate their small business through non-fungible tokens (NFTs). Each cycle of the program will support a selected group of entrepreneurs looking to deepen their understanding of the technology and platforms underpinning NFT commerce.

Growing a business with NFTs

Because NFTs can establish ownership and authenticity of digital goods and media, like images, videos, and music, they can help creators generate revenue and grow their business.

“NFTs have the potential to become a powerful accelerator for the creator economy,” said Cuy Sheffield, head of crypto, Visa. “We’ve been studying the NFT ecosystem and its potential impacts on the future of commerce, retail and social media. Through the Visa Creator Program, we want to help this new breed of small and micro businesses tap into new mediums for digital commerce.”

Community, mentorship and access for emerging artists

The Visa Creator Program is geared towards entrepreneurs working in art, music, fashion and film who are serious about incorporating NFTs into their business model, whether they’ve just minted their first NFT or have several successful drops under their belt.

“In the early days of my NFT career, I relied on a community of NFT experts and advocates to ground me in this new world,” says Micah Johnson, former professional athlete, the artist behind Aku, and one of the first participants to work with the Visa Creator Program. “I’m excited to work with Visa in providing that same type of mentorship to emerging artists setting out on their NFT journey.”

Selected creators will join a cohort-driven program designed to build and deepen their fluency in crypto commerce and traditional payments. The program is focused on supporting creators in five key area:

  • Technical and product mentorship: Mentorship with Visa’s team of crypto product and strategy leaders, to cover topics including: evaluating tradeoffs between underlying blockchain networks, smart contracts, and NFT marketplaces.
  • Community building: The opportunity to exchange ideas and problem-solve with a community of creators in various stages of their NFT journey.
  • Access to thought leaders: Hear from leading edge thinkers and researchers working across digital commerce, web3, crypto and payments.
  • Exposure to Visa’s clients and partners: Opportunities to engage with companies across Visa’s network of clients and partners.
  • Stipend: One-time stipend to help creators kick-start the next phase of growth.

Supporting new forms of small business

The Visa Creator Program is part of Visa’s ongoing efforts to help small and micro businesses gain greater access to the digital economy. Through community-based initiatives like the Visa Creator Program and She’s Next, Visa is focused on digitally enabling small and micro businesses through opportunities to access funding, resources and expertise.

As the concept of ‘small business’ continues to expand and evolve, from mom-and-pop storefronts to content creators and gig economy workers, Visa is excited to support the next generation of entrepreneurs in scaling a business and getting paid.


To learn more about the Visa Creator Program and how to get involved, visit the Visa Creator Program.

GPS announces new partnership with Mastercard

Global Processing Services announces new partnership with Mastercard to power ‘Next Generation Payments’ technology to global fintechs

  • Mastercard deepens a decade long collaboration with GPS, launching and scaling hundreds of card programmes for some of the most successful fintechs in the world
  • GPS recently raised over US$400 million in new capital to accelerate investment in open API, cloud-based technology, driving global expansion into many of the world’s largest markets over the next three years

Global Processing Services (“GPS”), a leading global payment technology platform, today announced a new strategic partnership with Mastercard.

Today’s announcement expands on the two firms’ longstanding relationship stretching back over a decade. Together, GPS and Mastercard have worked in partnership to launch and scale hundreds of card programmes for some of the most successful and innovative fintechs in the world including RevolutStarling Bank and Curve, amongst many others across Europe and Asia-Pacific.

In January 2022, GPS announced a significant capital injection of over US$400 million providing GPS with a bench of experienced global growth investors including Advent International – through Advent Tech and affiliate Sunley House Capital – Viking Global InvestorsTemasek, the global investment company headquartered in Singapore; and MissionOG, a US-based growth equity firm.

GPS intends to invest strongly in international expansion and product development with an eye on new and fast-growing verticals where adoption continues to rise including digital banks, crypto, BNPL, open banking and cross border payments, and as a result, Mastercard has made a strategic investment into the company.

GPS plays a crucial role in enabling fintech customers of networks such as Mastercard to deliver a trusted and dynamic digital commerce experience to billions of consumers who use physical and virtual cards – innovatively, quickly, and securely.

Through GPS’s modern and agile cloud-based technology, fintechs can access a diverse and expanding suite of modern open APIs that enable ambitious and disruptive players to scale at speed. Fintechs can also access GPS’s unique ecosystem of international partners, freeing them up to focus their time and resources on what truly matters to them – delivering an exceptional customer experience and continuous product innovation that disrupts and advances traditional banking, payment and lending services.

Jason Lane, Executive Vice President Market Development Europe, Mastercard, said: “We are excited to be formalising our partnership with GPS, working with them to build the fintechs of the future. Mastercard has a long history of partnering with fintechs, ensuring we have the programmes, products and tools that every innovative financial company needs even as the sector continues to evolve. We provide the solutions and expertise to iterate with fintech companies at each stage, transform together and achieve scale at pace.”

Joanne Dewar, Chief Executive Officer at GPS, said: “Our partnership with Mastercard is a resounding endorsement of our API-first payment technology platform and our bold vision for the future of payments. Together, for over a decade, we have helped to reliably scale many customers at speed. We welcome them as a GPS investor and we are ready to support many more future Mastercard fintech customers to scale into global businesses with the innovation, speed, and security they expect.”


Contacts

Louisa Bartoszek / Sumeet Vermani

Marcom@globalprocessing.com

Videos

Ep 2: Fintechs Acceleration of Growth Since COVID

Ep 1: The Evolution of Payments

Scaling Product Globally

Podcasts

Lee Hatton – Afterpay: FinTech Australia Podcast

Anthony Jones – Visa AUS/NZ

Tim Cameron – TransferWise