Siraj Finance PJSC, a leading Islamic finance institution in the UAE, has entered into a strategic partnership with Azentio Software, a global provider of cutting-edge core banking solutions. This collaboration aims to implement Azentio’s iMAL core and digital financial services platform, optimizing Siraj Finance’s operations, enhancing its digital transformation journey, and aligning with its vision to deliver innovative, customer-focused Islamic financial products. The signing ceremony saw senior leadership from both companies in attendance. Representing Siraj Finance were: From Azentio, the team included: During the event, Mr. Amjad Hijazi, Chief Operating Officer of Siraj Finance, shared his excitement about the partnership:”We…
Author: Editorial Team
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US payment technology leader FIS has reportedly finalized the acquisition of Demica, a UK-based supply chain finance fintech, for $300 million. This move highlights FIS’s strategic expansion into one of the fastest-growing areas in financial technology, marking a significant milestone for both companies. Demica, known for facilitating working capital funding for corporations and banks, boasts a robust growth trajectory, with assets on its platform growing at a compound annual rate of 40%. Its partnerships with leading global banks such as HSBC, Standard Chartered, and Lloyds Banking Group underscore its market influence. This acquisition represents a substantial exit for the consortium…
CredibleX, an innovative working capital finance platform for small and medium-sized enterprises (SMEs) in the UAE, has achieved remarkable success since launching its pilot eight months ago. The platform has already disbursed AED 100 million in loans to SMEs, providing much-needed financial support to the backbone of the UAE’s economy. Through partnerships with over 35 distribution channels, including Network International, DMCC, National General Insurance, Agthia, Watermelon, and Mamo, CredibleX has enabled more than 100,000 SMEs to access credit seamlessly. By integrating its platform directly into business operations, CredibleX offers fast, transparent, and hassle-free financing solutions tailored to meet the unique…
Community Bank of Louisiana, a trusted financial institution since 1901, has partnered with Q2 Holdings to modernize its digital banking capabilities. This collaboration is set to transform the mobile banking experience for customers across Northwest Louisiana’s rural areas, ensuring seamless, secure, and accessible banking services. The partnership will leverage Q2’s cutting-edge digital banking platform, including tools like Q2 Innovation Studio, Q2 Sentinel, ClickSWITCH, Positive Pay, and Centrix. These solutions aim to enhance customer satisfaction by making banking more intuitive, secure, and convenient. Driving Innovation in Digital BankingCommunity Bank of Louisiana President and CEO, Jayce Simpson, expressed enthusiasm about the collaboration,…
Robin Capital, a Germany-based Solo GP-led venture capital fund established by Robin Haak, has successfully closed its first fund, “Robin Fund One,” at €13 million. Combined with an additional growth-focused investment vehicle of €2 million, the fund has a total of €15 million ready to deploy. This marks a significant milestone in the European Solo GP landscape, where fund sizes are typically much smaller compared to their U.S. counterparts. Launched in 2023, Robin Capital is tailored to invest in European B2B mid-market enterprise SaaS startups, particularly in the DACH region (Germany, Austria, and Switzerland). The fund is targeting Pre-Seed and…
Parmenion, a leading adviser platform and discretionary fund management (DFM) provider, has integrated open banking functionality into its platform through a partnership with Payit™ by NatWest. This innovation allows clients to make quick, secure top-up payments directly from their bank accounts, significantly reducing the time it takes for funds to be invested. The integration is part of Parmenion’s broader vision to simplify payment processes. In the future, the platform aims to extend this capability to make withdrawals easier and enhance efficiency for advisers through open banking technology. What Is Payit™ by NatWest? Payit™ is an award-winning open banking solution that…
One in five people in the UK are Deaf or hard of hearing, with many considering British Sign Language (BSL) their first language. Unlike English, BSL has its own unique structure and vocabulary, which can make switching to English difficult or even impossible for some. Recognizing this, Monzo has teamed up with SignLive, a Deaf-owned and Deaf-led interpreting service, to break communication barriers for BSL users. About SignLive Since its launch in 2014, SignLive has become a leader in accessible communication technology, boasting over 118 highly-trained interpreters who partner with UK businesses to provide seamless services. Their interpreters are skilled…
Shopline has partnered with Onramp Funds to deliver flexible financing solutions tailored to U.S.-based eCommerce businesses, the companies announced in a press release on Tuesday (Dec. 17). This collaboration empowers online merchants using Shopline’s commerce platform to access capital through Onramp Funds, a funding provider specializing in eCommerce. “Our partnership with Onramp Funds strengthens Shopline’s ability to support merchants during fluctuating inventory demands and seasonal sales surges,” said Shopline Co-president Christopher Yang. By integrating their Shopline store with Onramp, merchants can benefit from quick approvals, tailored funding options, and flexible repayment plans, including sales-based or fixed structures. According to the…
The Canadian government has announced plans to implement a comprehensive legal and regulatory framework for open banking, also referred to in the country as “consumer-directed finance.” This initiative aims to modernize the financial ecosystem, aligning Canada with global leaders like the UK and Australia. While nations such as the UK launched their Open Banking Implementation Entity more than seven years ago and Australia introduced its Consumer Data Right legislation four years ago, Canada has lagged behind. However, this week’s Budget 2024 outlines a roadmap to close that gap, beginning with the introduction of key legislation this spring and additional measures…
Raisin, a leading global platform for savings and investments, has partnered with Salt Edge, an open banking technology innovator, to enhance compliance with UK regulations and improve customer experience. This collaboration ensures secure, transparent, and streamlined financial solutions for Raisin’s UK platform. Operating across the EU, UK, and US, Raisin connects retail clients with banks, offering competitive interest rates and a wide range of banking products. The platform also provides banks with access to stable, scalable retail funding solutions. To strengthen transparency, security, and regulatory compliance, Raisin selected Salt Edge’s Open Banking Compliance solution. This strategic move enables Raisin to…
