Thought Machine raises $200m in Series C funding to bring world’s banks to the cloud

source: https://thoughtmachine.net/newsroom/thought-machine-raises-200m-in-series-c-funding-to-bring-worlds-banks-to-the-cloud

 

Thought Machine raises $200m in Series C funding to bring world’s banks to the cloud

New investors JPMorgan Chase Strategic Investments, Standard Chartered Ventures and ING Ventures join cap table and client list

 

  • Nyca Partners leads Series C round raising Thought Machine’s valuation to more than $1bn
  • New institutional investors include ING Ventures, JPMorgan Chase Strategic Investments and Standard Chartered Ventures
  • Lloyds Banking Group, who led Thought Machine’s Series A round is also participating in this funding round and continues to invest in the business to maintain its shareholding

London, November 29 2021: Thought Machine, the cloud native core banking technology firm, today announces the close of its series C funding round, bringing $200m into the business from new and existing investors. This new round sees Thought Machine achieve unicorn status.

This round was led by Nyca Partners, a New York and San Francisco-based venture capital firm, with investment also coming from the investment arms of some of Thought Machine’s global tier one banking clients – ING Ventures, JPMorgan Chase, and Standard Chartered Ventures. Existing investors Lloyds Banking Group, British Patient Capital, Eurazeo, SEB, Molten Ventures (formerly Draper Esprit), Backed, and IQ Capital have all participated in the round.

This announcement follows a period of accelerated growth as Thought Machine executes its internationalisation strategy and continues to deploy cloud native core banking technology into the world’s most ambitious banks and fintechs.

In October 2021, Thought Machine relocated to a larger London HQ to support its headcount growth after adding more than 200 employees since 2020.

Thought Machine will be using the funding to continue developing and expanding Vault. The firm intends to further develop Vault and its Universal Product Engine, which allows for unparalleled flexibility in product development and configuration. The company will expand its international reach, strengthening its five global offices and targeting new key markets to accelerate the adoption of cloud native core banking globally.

Founded in 2014 by former Google engineer Paul Taylor, Thought Machine provides modern, cloud native core banking technology to some of the largest and most ambitious banks in the world. Many of Thought Machine’s investors are also clients, including Lloyds Banking Group, Standard Chartered, SEB and others – signalling to the market Thought Machine’s critical role in the future of global banking technology.

Quotes

Paul Taylor, Chief Executive Officer and Founder, Thought Machine:

We are delighted to have earned the support of our new and existing investors as we continue to move the world’s leading banks into the cloud. We set out to eradicate legacy technology from the industry and ensure that all banks deployed on Vault can succeed and deliver on their ambitions. These new funds will accelerate the delivery of Vault into banks around the world who wish to implement their future vision of financial services.

Hans Morris, Managing Partner, Nyca Partners:

Thought Machine is the leading technology among the new generation of cloud native core platforms, and as a result it has become the top choice for tier one banks looking to upgrade their core architecture. These institutions tell us that Thought Machine’s engineering approach is unrivalled; Vault is highly configurable, flexible, scalable, and specifically designed for the complex environment and requirements of tier one banks. Investing in Thought Machine is an investment in the future of banking and we are very energized to be working with them as they build a new standard for core banking technology.

Alex Manson, Head of SC Ventures, Standard Chartered:

The deployment of Thought Machine is tied to our digital banking strategy, as we have adopted Thought Machine as the core banking software for our digital banks in Singapore and Hong Kong. Thought Machine’s cloud-native and agnostic technology stack offers agile and easily replicable deployment across markets, boosting our ability to roll out efficient digital banks with great customer experience in other markets. Digital Banking is one of our high-conviction themes, as we strongly believe finance should be a seamless experience embedded in our customers’ lifestyles. This will continue to be a focus area for SC Ventures.

-- ENDS –

 

About Thought Machine

Thought Machine was founded in 2014 with a mission to enable banks to deploy modern systems and move away from the legacy IT platforms that plague the banking industry. We do this through our cloud native core banking platform, Vault. This next generation system has been written from scratch as an entirely cloud native platform. It does not contain a single line of code which is legacy, or pre-cloud.

We are currently a team of more than 500 people spread across offices in London, New York, Singapore, Sydney, and Melbourne, and have raised more than $340m in funding at a $1bn+ valuation.

For more information visit thoughtmachine.net


SC Ventures launches letsbloom to enable organisations in regulated industries to build, run, and deploy in the cloud

source: sc.com

Singapore – SC Ventures, Standard Chartered Bank’s innovation, fintech investment and ventures arm, announced the launch of letsbloom, a fintech that will give clients operating in regulated industries (such as financial services, healthcare and government) the ability to securely build, deploy, and run business applications on the cloud quickly and cost efficiently.

letsbloom has two offerings:

  1. letsbloom Platform-as-a-Service (Paas) provides secure onboarding of applications to any cloud platform. The platform includes pre-built bank grade security, compliance controls, continuous integration / continuous deployment (CI/CD), as part of a fully managed service across the application lifecycle from development to production.
  2. letsbloom Marketplace helps organisations build better client experiences faster, by using certified third-party applications on our low-code platform. The security and compliance posture of all applications on the letsbloom marketplace is available at the click of a button. Organisations, including independent software vendors, can accelerate revenue growth by selling to new enterprise clients through letsbloom.

Gartner forecasts that worldwide public cloud spending to grow by around 23% per annum to close to USD 400 billion in 20221. letsbloom aims to be the platform of choice for building and deploying client experiences in any regulated industry on leading cloud platforms.

For organisations operating in regulated industries, the process of building, deploying, and running applications tends to be slow and expensive, especially as there is a high and increasing cost of meeting regulatory requirements. In addition, the substantial financial investment required in setting up the right infrastructure to protect client data from cybersecurity threats is a necessary cost of doing business.

Lokesh Sharma, CEO of letsbloom said: “letsbloom was founded to help organisations address these challenges by using the letsbloom platform and marketplace. We enable them to securely onboard their applications to the cloud and co-create with ecosystem partners at a fast pace. What used to take months can now be done in days on letsbloom’s platform, and at a fraction of the cost.”

Michael Gorriz, Standard Chartered Group CIO and letsbloom Board Director commented: “Financial institutions collaborating with fintech ecosystem partners often have complex regulatory requirements. letsbloom will help financial institutions deliver new client experiences faster whilst ensuring security and regulatory compliance.”

Alex Manson, SC Ventures said: “Security and compliance for all is a key theme for SC Ventures. letsbloom provides continuous security and compliance controls for organisations of all sizes to transform financial services in a fast and secure way.”

1 Source: https://www.gartner.com/en/newsroom/press-releases/2021-04-21-gartner-forecasts-worldwide-public-cloud-end-user-spending-to-grow-23-percent-in-2021

 

For media enquiries, please contact our team at media@letsbloom.io.

letsbloom

Discovery Technology Services Pte. Ltd. (Company Registration Number: 202100938H) is headquartered in Singapore, as a wholly owned subsidiary of Standard Chartered Bank. We are a fintech focused on enabling clients in regulated industries to build, deploy, and run applications cheaper and faster. We are democratising security and compliance for organisations operating in regulated industries through our turnkey cloud platform and marketplace solutions.

For more details on letsbloom, please visit letsbloom.io and follow letsbloom on LinkedIn.


We’ve launched Shoal to empower UK savers to fight climate change

source: sc.com

London – Today SC Ventures, the innovation arm of Standard Chartered Bank announced the launch of Shoal, a new digital platform powered by Starling Banking Services that will give UK savers the power to help fund the fight against climate change.

Launching in 2022, Shoal will invest exclusively in green and sustainable projects, and will give savers the power to select the types of project their money supports. In this way, Shoal will empower its community to channel their savings directly to the causes that matter most to them.

The first offering on the Shoal marketplace will be a savings account. Customers will be invited to select from a shortlist of options such as renewable energy, clean water, and community development. Once they have chosen a theme or combination of themes to support, their money will be used exclusively to fund projects aligned with those themes. They will receive regular updates on the projects they have helped fund, alongside a competitive rate of return.

Allowing direct customer choice in this way fundamentally disrupts the traditional ethical banking model, which has tended to be defined by the activity that is screened out rather than allowing customers to select the projects that receive funding.

Shoal signifies a major development in the UK banking sector, combining Standard Chartered’s leadership on sustainability and unique global footprint with Starling Bank’s best-in-class digital capabilities and Banking as a Service (BaaS) offering in the UK. Shoal will be added to the Starling Marketplace in due course, enabling existing Starling Bank customers to benefit from this new digital sustainable offering. As part of the broader strategy this new partnership intends to expand Shoal into Europe.

Starling’s BaaS proposition has enabled Shoal to develop and build a unique product at scale and at speed. Using Starling’s technology and API’s, payments can be made instantly into sustainable savings funds with Shoal. With Starling’s banking licence all accounts will be protected by the Financial Services Compensation Scheme. This model enables Shoal to focus on customer acquisition and service and delivers a front-end app with a superior user experience, while Starling ‘powers’ the overall solution.

Bill Winters, Group Chief Executive, Standard Chartered, said: “Our vision is to become the world’s most sustainable and responsible bank. While we looked to the COP26 conference to accelerate government action, our partnership with Starling Bank is an example of the private sector taking decisive steps to scale climate investment. With Shoal, we’re excited to build a platform that will unlock much-needed retail capital to fund sustainable projects in parts of the world where the impact will be greatest and give savers the power to make good money, whilst making money do good.”

Anne Boden, CEO and Founder, Starling Bank, commented: “At Starling Bank we’re making banking better. That is why we are pleased to deploy Starling’s Banking as a Service proposition in partnership with Standard Chartered to help their customers live ever more sustainably. Starling will handle the technical and regulatory demands behind the scenes, leaving Shoal to take care of their customers.”

Alex Manson of SC Ventures, said: “Sustainability is one of the high conviction themes for SC Ventures as we explore different business models. With Shoal, we are creating a new venture to address the growing need of retail clients for sustainable financial and non-financial products, starting with UK and expanding to other markets over time.”

Users can visit www.joinshoal.co.uk to register their interest.

There is an annual US$5-7 trillion shortfall in the private financing needed to fulfil the UN’s Sustainable Development Goals (SDGs). At current rates, private finance is managing to cover just 1.5% of the annual global investment need. There is an urgent need to scale up private finance to fund much needed climate adaptation, renewable energy and infrastructure projects, especially across emerging markets where the impact of climate change is most acute.

In the UK, more than one-fifth (22%) of domestic investors are planning to invest in dedicated ethical funds in the near future, with the proportion rising to more than one-third (35%) among those aged 35 and under. Yet, amongst savers, a recent survey found that 72% of respondents with savings or pensions did not know whether their money is invested in line with their environmental and social values.

— ENDS —

 

For further information please contact:

Shaun Gamble

Executive Director, Group Media Relations

Standard Chartered Bank

+44 20 7885 5934

shaun.gamble@sc.com

Starling Bank

Starling Bank is an award-winning, fully-licensed and regulated UK bank built to give people a fairer, smarter and more human alternative to the banks of the past. Starling built its proprietary banking technology and digital capabilities from scratch. Starling Banking Services offers innovative B2B banking and payments services through its Banking as a Service model to provide Starling’s award-winning banking experience to other brands – all via simple APIs. Headquartered in London, it has offices in Southampton, Cardiff and Dublin. Visit www.starlingbank.com


Zai - merger creates a new force in financial services

New brand launches forecasting processing volume growth of over 60% in 2021 as merger of Assembly Payments and CurrencyFair receives regulatory approval.

 

Source: hellozai.com

DUBLIN — 04 November 2021 — The merger of Assembly Payments, whose platform automates complex payment workflows, and CurrencyFair, a global cross-border payments platform, has received regulatory approval and is now complete.

 

With that, the company today launches its new brand - Zai ( www.hellozai.com) - which will replace the Assembly Payments brand as the company moves beyond domestic and fx payments to provide a core suite of broader integrated financial services to consumers and businesses globally.

 

Paul Byrne, CEO and president of Zai said: “Our vision with Zai is to boldly transform the future of financial services. It will build on the great successes already achieved by Assembly Payments and CurrencyFair, powering our customers with innovative services and products.

 

Zai will continue our focus of being resolutely customer-centric, solving problems and adding value around our five core capabilities – payments, global payment accounts, supporting our partner ecosystem, lending and settlement, and payment services – addressing a myriad of growth opportunities in the US$2 trillion revenue market for payments.”

 

Zai also forecast that group processing volume is expected to reach US$6.5 billion in 2021, a more than 60% increase on 2020 volumes. This is the second consecutive year of strong growth with volumes increasing 53% to US$4.0 billion in 2020.

 

Assembly Payments and CurrencyFair merged to form Zai supported by investment from SC Ventures, the innovation, ventures and fintech investments unit of Standard Chartered which is doubling down on its commitment to the rapidly growing payments industry, following its initial investment in Assembly Payments in 2020. The investment and merger were announced in April 2020. Zai expects to grow from its current 170 employees to around 450 by 2025.

 

Alex Manson from SC Ventures said: “Through Zai, we will provide our customers with the building blocks to launch their online propositions, without the technical and geographical complexities when it comes to payments and related services. E-Commerce is one of the highest conviction themes for SC Ventures, and we will continue to grow and scale our capabilities and geographies to support the transition to digital economies.

 

The company will leverage and build upon its existing strong relationships in Australia initially and work is already well underway on its product pipeline for the UK, USA and Asia.

 

 

 

Media contact:

Brendan Murray - Zai / CurrencyFair

+353 86 3057469 brendanmurray@currencyfair.com

Harrison Polites - The Media Accelerator

+61 409 623 618 harrison@themediaaccelerator.com.au

 

About Zai

Zai was born from the April 2021 merger of Assembly Payments and CurrencyFair. We are boldly transforming the future of financial services and powering our customers with innovative products and services. Assembly Payments, founded in 2013, has been one of the fastest growing fintechs in Australia, with a presence in Singapore, India, Philippines and the US. Specialising in building automated payment workflows, with APIs, to reduce the complexity of running both traditional and digital-native businesses. CurrencyFair, founded in 2010 and with offices in Ireland, UK, Hong Kong, Singapore & Australia, is a global cross-border payments fintech that serves individuals and businesses with international payments and currency exchange through its proprietary global platform. Zai has over 170 employees, and is hiring as we expand our presence across APAC, Europe, the Middle-East, and North America. To find out more about the history of Zai visit <www.addURL/com/the storyofzai>>


 

As a corporate sponsor of #SFF2021, Standard Chartered will be hosting an entire week of virtual events at this year’s Singapore FinTech Festival on 8 - 12 November, to showcase existing and potential partnerships around themes such as #DecentralizedFinance, #Web3.0, #EmbeddedFinance and more!

These sessions will be streamed on our co-exhibitor site on the Singapore FinTech Festival platform - if you have a ticket, be sure to visit our site!

Don't have a ticket? Don't fret! We'll be streaming an exciting line up of conversations, podcasts and fireside chats on our SC Ventures LinkedIn page - available for all to watch - that's right, no tickets needed!

Follow our SC Ventures LinkedIn page to get notifications when we go live!

(Note those marked with "Ticketed" will be hosted on the SFF platform, and those marked "LinkedIn Live" will be streamed on our SCV Linkedin available for anyone to tune in!)

 

Monday, 8 Nov

Time Feature Streaming
9:30 - 9.45 am SGT Opening Speech  by Bill Winters

Our Digital Ambitions

SC Ventures

LinkedIn Live

10:30 - 11:15 am SGT Building Blocks Better: Paving the way for financial markets 3.0

Harald Eltvedt, SC Ventures, Paramita Dasgupta, Manager, Creating Markets Advisory, IFC East Asia & Pacific, International Finance Corporation, World Bank Group, Kevin Lim, Director, Blockchain@Temasek,

Temasek

SFF site (ticketed)
1:15 - 2.00 pm SGT Singapore FinTech Association Payments Track: Setting up Payment Standards

Matt Wood, Head of Digital & Fintech Partnerships, Asia Pacific, Visa, Venkatesh Saha, Chief Executive Officer, Wise Asia-Pacific Ltd, Wise, Janet Young, Managing Director & Head of Group Channels and Digitalisation, UOB, Kahina Van Dyke, Global Head of Digital Channels & Data Analytics, SCB

Moderated by Caesar Sengupta, Founder & Chief Executive Officer, Arbo Works

SFF site (ticketed)
3:05 - 3.20 pm SGT Perspective on Building a Digital Bank

with Dwaipayan Sadhu, Head CPBB, Standard Chartered

SFF site (ticketed)
5:00 - 6:00 pm SGT Olea: Supporting smaller suppliers with supply chain alternative investments

with Amelia Ng, CEO Olea; Moderated by Marion Bernardi and Harald Eltvedt, SC Ventures

SC Ventures

LinkedIn Live

 

Tuesday, 9 Nov

9:00 - 10:00 am SGT Standard Chartered and Unqork: The Endless opportunities of no-code low-code

Unqork is a cloud computing and enterprise software company based in New York, that offers a no-code development platform-as-a-service for building enterprise applications, supporting organizations in finance, insurance, healthcare and government.

With Bassam Chaptini, Chief Technology Officer, Unqork, Rabih Ramadi, Head of Financial Services & Insurance, Unqork, Thorsten Neumann, Chief Technical, SC Ventures, Vikram Gupta, Head, Technology, Cyber and Data Science, Standard Chartered Bank

Moderated by Simon Figures, SC Ventures

SC Ventures

LinkedIn Live

11:00 - 11:30 am SGT Ask Me Anything session with CEO of CardsPal

with Saim Yeong Harng, CEO CardsPal

CardsPal is our mobile solution that helps customers find the credit card deals to maximise savings.

Moderated by Santosh Patel, SC Ventures

SC Ventures

LinkedIn Live

11:30 - 12:30 pm SGT Singapore digital bank and Moneythor: Building a digital bank from scratch

with Olivier Berthier, Founder & CEO, Moneythor, Dwaipayan Sadhu,  Head of CPBB, Standard Chartered

Moderated by Saurav Bhatia, Chief Customer Officer, Singapore digital bank

Moneythor is a fintech developing banking software components, designed to provide better digital banking for customers and enhanced marketing and analytics for banks. These solutions enable financial institutions to deliver improved functionality and experience for their customers across their digital channels.

SC Ventures

LinkedIn Live

2:00-2:40pm SGT How Data is Pioneering the New Client Engagement

With Meri Rosich, Chief Data Officer, CCIB, SCB, and Shari Van Cleave, Global head, Client Experience and Engagement, SCB

Session is moderated by Santosh Patel, SC Ventures

SC Ventures

LinkedIn Live

3:00 - 3:30 pm SGT Fintech Bridge Open Call for Tech Solutions: How might we leverage technology to improve crop quality, and manage the supply chain to reduce post-harvest losses?

with Cherotich Rutto, Venture lead, AgriTech, our venture that aims to solve challenges to market access in the fresh produce value chain by enabling price transparency and consistent supply of quality produce to off-takers.

Agriculture is the main driver of economic transformation in Africa, impacting over 50% of the population. However, 2 key challenges continue to plague farmers:

1) Limited access to quality inputs, data and information hinders farmers from maximizing their production

2) Post-harvest losses in the agriculture and food supply chain reduces farmers' income

SC Ventures

LinkedIn Live

3:30 - 4:30 pm SGT Atome and Standard Chartered: Delivering mobile-first financial services for consumers across Asia

with Marnix Zwart, Global Head of Partnerships, Retail Banking, Standard Chartered

and Trina Yeung, Chief Financial Officer at Atome Financial

Moderated by Sachin Sharma, CPO, nexus Standard Chartered

SC Ventures

LinkedIn Live

5:00 - 6:00 pm SGT Zai: A new force in financial services offering cross border payment services

with Rimal Gokani, Chief Commercial Officer, Zai, and Simran Gill, SC Ventures

SC Ventures

LinkedIn Live

 

Wednesday, 10 Nov

9:00 - 10:00 am SGT Quantum Computing with USRA

with David Venturelli, Assoc. Director, Quantum Computing, USRA, Alam, M. Sohaib, Research Scientist at the Quantum Artificial Intelligence Lab (QuAIL), USRA and Elena Strbac, Global Head of Data Science Innovation, CCIB, Standard Chartered

Moderated with Harald EltvedtApurv Suri, SC Ventures

SC Ventures

LinkedIn Live

10:00 - 10:45am SGT How can SMEs tap into Green Finance

Learn how small and medium businesses can tap into green finance to scale their businesses

With Marcos Neto, Director of the Finance Hub at UNDP,  Kai Fehr, Global Head of Trade & Working Capital, SCB, Eric Tham, Managing Director & Head, Group Commercial Banking, UOB, Amy Chung, CEO, Containers Printers, Hourn Thy (Moderator), Head of Operations, SME Finance Forum

SFF site (ticketed)
11:00 - 12:00 pm SGT How Liberty met the MAS CBDC challenge by tokenizing bonds for retail investors

feat. Project Liberty, our bond tokenization venture solution, with Aaron Gwak, Venture Lead

Moderated by Marion Bernardi, Harald Eltvedt SC Ventures

SC Ventures

LinkedIn Live

1:00 - 1:30 pm SGT Intrapreneur Journey in the Bank: Building KarmaPoints

with DC Mulay, intrapreneur and Jason Wiggin, SC Ventures

KarmaPoints is a platform that brings Consumers, charities and companies together, combining their comparative advantages (will, know-how and resources respectively) to solve the world's problems.

SC Ventures

LinkedIn Live

2:00 - 2:30 pm SGT Letsbloom x Azentio

With Lokesh Sharma, Venture lead of Letsbloom, and Romil Turakhia, Head of Markets, Azentio

Moderated by Chang Wea Meng, SC Ventures

SC Ventures

LinkedIn Live

3:00 - 4:00 pm SGT The Economics of ESG

with Vikram Chakravarty, Managing Partner, EY, and Konstantinos Dimitriou, Associate Partner, EY

Moderated by Lynette Lee, SC Ventures

SC Ventures

LinkedIn Live

4:00 - 4:45 pm SGT Reshaping our Activities to Reduce our Impact on Earth

with Mathias Wikstrom, CEO, Doconomy, Manohar Chadalavada, MD, Global Head, AI, Ecosystems and Open Banking, Standard Chartered Bank

Moderated by Dominic Maffei, SC Ventures

SC Ventures

LinkedIn Live

7:00 - 7:45 pm SGT Leading with Purpose

with Bill Winters, Group Chief Executive, Standard Chartered, Jurgen Klopp, Liverpool

Football Club Manager, Tan Chuan-Jin, Speaker of Singapore Parliament

SFF site (ticketed)

Thursday, 11 Nov

9:20 - 10:40 am SGT Future of Digital Banking and Digital Bank

with Alex Manson, SC Ventures; Sopnendu Mohanty, Chief FinTech Officer, MAS; Varun Mittal, Global Emerging Markets FinTech Leader, Partner, EY

Non-ticketed:

Virtual: https://lnkd.in/gFVpkMed
Bridge+ Metro: https://lnkd.in/gYGdvuyC

9:00 - 9:40am SGT e-signatures accelerate digitization from paper to online

with Sameer Hajarnis, eSignature Practice Leader, One Span and Thorsten Neumann, SC Ventures

Moderated by Jason Ho, SC Ventures

SC Ventures

LinkedIn Live

2:00 - 3:00 pm SGT Autumn, a holistic fintech app to help you be #FutureFit

Hear insights and our vision of future planning for young millennials. This generation seeks out wealth building and future planning differently. How does Autumn come in with best-in-class solutions in Wealth, Health & Lifestyle to help them better navigate their dreams?

with Mike Kruger, CEO of Autumn

Moderated by Alice Goh, SC Ventures

SC Ventures

LinkedIn Live

3:00 - 4:00 pm SGT The Economics of Biodiversity - Can Biodiversity be Tokenized?

With Corrado Forcellati, PAIA Consultancy, and Benjamin Tsai, President & Managing Partner, Wave Financial

Moderated by Lynette Lee, SC Ventures

SC Ventures

LinkedIn Live

5:00 - 6:00 pm SGT Nexus and Personetics: How embedded finance can revolutionize the digital experience?

with Kelvin Tan, Global Lead, SC nexus, and David Sosna, Founder & CEO, Personetics, and Marnix Zwart, Global Head of Partnerships, Retail Banking, Standard Chartered

Moderated by Simran Gill, SC Ventures

SC Ventures

LinkedIn Live

6:00 - 6:45 pm SGT The Importance of Data and AI in ESG Ecosystem: A Collaboration to Drive Change

with Pier Luigi Culazzo, Group Chief Data Officer, Standard Chartered, Rahim, Mohammed, Global Hd, Design & Monitoring, Data Management Risk, Standard Chartered, and Vijay Jairaj, Head, Data Management Risk - Responsible AI, Standard Chartered

Moderated by Lynette Lee, SC Ventures

SC Ventures

LinkedIn Live

 

Friday, 12 Nov

8:45 - 9:15 am SGT Climate-Tech or where to find the next 1,000 unicorns

with Matt Myers, Climate tech investor & community builder

Moderated by Marion Bernardi, SC Ventures

SC Ventures

LinkedIn Live

9:30 - 10:30 am SGT OpenFin: Developing the next collaborative tools in Financial Services

With Mazy Dar, CEO, OpenFin

Moderated by Gakim Solomons, SC Ventures

OpenFin is the OS for Enterprise Productivity, bringing organizations together in a single, secure and unified workspace.

SC Ventures

LinkedIn Live

10:30 - 11:10 am SGT LSEG and SCB: Merging forces to build faster models

With Karthik Ramamurthy, Head of Product and Valuation Control GBS, Standard Chartered, and Andrei Borsaru, Director Business Solutions at LSEG

SC Ventures

LinkedIn Live

11:30 - 12:30 pm SGT Solv: Enabling seamless trade and access to finance for small businesses in post-COVID world

With Jiten Arora, SC Ventures

Moderated by Alice Goh, SC Ventures

SC Ventures

LinkedIn Live

2:00 - 2:30 pm SGT The Evolution of Personalized Investment Ideas to Wealth Clients

with Sushil Anand, Head, Digital Advisory, Group Wealth Management, Standard Chartered; and Alison Chiu, Director, Investment Advisory, Wealth Management, Standard Chartered

Moderated by Simran Gill, SC Ventures

SC Ventures

LinkedIn Live

5:00 - 5:45 pm SGT BCG Digital Ventures

with Andy Lees, Partner & Director Product Management at BCG Digital Ventures and Harald Eltvedt, SC Ventures

SFF site (ticketed)

 

We'll be at this year's Hong Kong FinTech Week on 3 - 5 Nov!

Join us online or visit our physical booth to learn how we're #RewiringtheDNAinBanking though fintech partnerships, intrapreneurship and our ventures & JVs. Hear from Bill WintersGautam JainLetitia Chau from Olea, our fully-digitised trade finance origination and distribution platform; Jesper Bruun-Olsen from our portfolio company OpenFinAaron Gwak from Liberty, our bond tokenization solution for retail investors, and Kelvin TanMathias Faure and Sachin Rajat Sharma from SC nexus, our #BaaS solution.

Connect with our HK team Dominic Maffei Simran Grewal Brenda Ching at our booth, and check out our showcase featuring our ventures: Assembly PaymentsCurrencyFairSolvZodia CustodyCardsPal and Autumn.

 

View our line-up below:

.

.

.

.

Full Standard Chartered Agenda

 

Register & view the full agenda here: https://www.fintechweek.hk/

 

 

 

 

 


Zodia Custody and DMG Blockchain Solutions successfully test Blockseer’s “Petra” platform

| Source: DMG Blockchain Solutions Inc.

VANCOUVER, British Columbia, Oct. 20, 2021 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB: DMGGF) (FSE: 6AX) (“DMG” or the “Company”), a publicly traded, vertically integrated blockchain and cryptocurrency technology company, announces multiple successful transactions with Zodia Custody (www.zodia.io), a crypto asset custodian incubated by Standard Chartered (www.sc.com), with Northern Trust (www.northerntrust.com) as a co-investor, using DMG’s Blockseer platform “Petra” from its Core+ suite of services.

On Monday, Oct 11, 2021, using a testnet environment, DMG initiated a new function called Petra, which gives subscribers enhanced optionality when initiating crypto transactions. The test transactions were carried out alongside Zodia Custody. The addition of optionality -- once fully completed and launched under the Blockseer brand -- will provide subscribers a choice in how they want to proceed with transactions. The options provided by Petra will include the provision of KYC on wallets, AML checks on transactions, and routing transactions via carbon neutral mining facilities. This is an important step in the development of DMG’s Regulatory & Compliance offerings under Blockseer’s platforms.

Once completed, Petra's launch will provide options focused on the Bitcoin Blockchain. As part of the tests conducted alongside Zodia Custody, transactions were routed using Petra and tagged as a “green” to prioritise carbon neutral miners, giving one example of the optionality provided by the platform. Future options may include risk ratings of counterparties and geo-location. Petra’s subscriptions will be based on a percentage of the dollar-value equivalent that is transacted through the system.

DMG’s CEO Sheldon Bennett, comments, “Petra is a concept that DMG conceived many years ago. However, we did not have the technology to bring this concept to the market until now. Using core technologies in Blockseer’s Walletscore, Explorer and Helm, we have been able to create a new and very relevant product for companies and individuals who have particular interest in governance, regulatory issues, and ESG goals aligned with optionality that Petra permits. Our partnership with Zodia Custody is moving quickly and we look forward to completing all our testing and bringing this product to market.”“The crypto asset industry is often associated with high environmental impacts, particularly in relation to energy consumption. Further, the concept of unknown participants mining blocks is outside of many institutions’ risk appetite. Zodia Custody, in an industry first with DMG’s Petra platform, is able to address these concerns and offer our clients the option to route transfers to OFAC-compliant, ‘green’ mining pools. Petra will also give comfort to our institutional clients that their crypto transfers are being processed by known, sanctioned compliant parties. This represents a major milestone towards the institutional adoption of crypto assets and demonstrates Zodia’s commitment to providing safe access to this market for highly-regulated global financial institutions in a way that is aligned with their goals,” said, Maxime De Guillebon, CEO, Zodia Custody.

About Zodia Custody

Zodia Custody, an institutional grade crypto asset custody solution based in London, offers services to clients across the globe. Zodia Custody enables institutions to invest safely and securely in crypto assets. Developed by Standard Chartered Ventures and Northern Trust, Zodia Custody satisfies institutional investors’ need for a crypto asset custodian that understands traditional custody and meets investors’ standards and expectations, whilst maintaining the flexibility required to adapt to the ever-changing crypto asset market.

Zodia Custody is registered with the FCA under the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 and has commenced commercial operations following a period of testing.

Zodia Custody is providing custody services for the two most traded crypto assets, Bitcoin and Ethereum, with plans to expand to more crypto assets based on thorough risk assessment and client demand.

Zodia Custody Limited is registered with the UK Financial Conduct Authority with Firm Reference Number 928347.

For more information visit our website or follow us on LinkedIn.

About DMG Blockchain Solutions Inc.

DMG is an environmentally friendly vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s sustainable businesses are segmented into two business lines under the Core and Core+ strategies and unified through DMG’s vertical integration.

For more information visit the DMG website here to learn more. 

Follow @dmgblockchain on Twitter and subscribe to DMG's YouTube channel.

On behalf of the Board of Directors,

Sheldon Bennett, CEO & Director

For additional information, please contact:

DMG Blockchain Solutions Inc.

Email: investors@dmgblockchain.com

Web: www.dmgblockchain.com

Investor Relations Contact:

CORE IR 516-222-2560

For Media Inquiries:

Jules Abraham, CORE IR

julesa@coreir.com

Charlotte Parker, Zodia Custody

Charlotte.parker@zodia.io

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include statements regarding the expectations of the relationships and integration with Zodia and the benefits therefrom, the development of its Core+ strategy, the testing and release of Petra, the ability to enter the market sooner than anticipated with certain products and services, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information.

Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, volatility in the trading price of the Common Shares, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company's financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoins; security threats, including a loss/theft of DMG's bitcoins; DMG's relationships with its customers, distributors and business partners; the inability to add more power to DMG's facilities; DMG's ability to successfully define, design and release new products in a timely manner that meet customers' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG's business. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on www.SEDAR.com including the annual information form for the year ended September 30, 2020, filed on January 28, 2021.

Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoins from DMG or its customers, consumer sentiment towards DMG's products, services and blockchain technology generally, failure to develop new and innovative products, litigation, increase in operating costs, increase in equipment and labor costs, decrease in the price of Bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by third parties in respect of the matters discussed above.

All information in this new release concerning Zodia has been provided for inclusion herein by Zodia. Although DMG has no knowledge that would indicate that any information contained herein concerning Zodia is untrue or incomplete, DMG assumes no responsibility for the accuracy or completeness of any such information.


Autumn partners with dacadoo to help customers make healthier lifestyle choices to reduce their financial burdens in the future

20 October 2021, Singapore/Zurich, Switzerland – Autumn, a first-of-its-kind wealth, health and lifestyle solution platform in Singapore has entered into a partnership with dacadoo, one of the world’s leading healthtech providers to enhance the mental and physical wellbeing of users.

As a bank agnostic and open platform incubated in and backed by SC Ventures, the innovation and ventures unit of Standard Chartered, Autumn offers its users best-in-class products and solutions that empowers them to plan and manage their financial and physical wellbeing. Autumn embraces a holistic approach to retirement, helping people understand how their lifestyle choices can impact their finances and health so that they are adequately prepared for retirement.

Across Asia-Pacific, annual elderly healthcare expenditure in 2030 is expected to be five times that of 2015’s expenditure. Singapore’s annual public and private expenditure for healthcare is expected to rise 10 times to $49 billion by 2030 (from 2015)1. This increased expenditure is a result of additional years of lifespan that are spent coping with age-related health problems. Unhealthy ageing can lead to medical inflation which will make healthcare costs unaffordable in the long run.

This partnership enables Autumn to draw on dacadoo’s broad selection of motivational and scientific principles, ranging from health scoring to automated coaching and gamification based on behavioural science, to engage users on their journey to health and wellbeing. In addition to wealth planning, Autumn’s users will have 24/7 access to a smart digital coach and receive personalised health and wellbeing nudges to help them turn knowledge into action, so that they can build and maintain a healthy lifestyle. Users will be able to track their progress using a digital Health Score updated daily according to lifestyle choices about sleep, exercise, nutrition and mental wellbeing. These positive shifts in users’ wellbeing will enable them to live a healthier life, reducing the financial burden on the retirement plans so that they have sufficient to last their life time.

This holistic offering will help Autumn’s users in maintaining good health to enjoy their wealth and retirement in the longer run.

 

Mike Kruger, CEO, Autumn – “We’ve identified that many people don’t fully understand how their lifestyle choices can create health risks and costs which can potentially wipe out their financial plans. This partnership will expand Autumn’s existing offering to incorporate health considerations in the advice and recommendations provided by our app to help our users understand how health and wealth are linked. We believe that a holistic platform will ensure our users have sufficient wealth and the good health to live their best life.”

Peter Ohnemus, President & CEO, dacadoo – “We are proud to be entering into this partnership with Autumn and SCV in order to enhance Autumn’s already impressive platform proposition. At dacadoo, we strive to make the world a healthier place by providing relevant, easy and fun (what we call the REF factor) digital health engagement solutions that include holistic health tracking and benchmarking that everybody can understand and act upon. We believe that through our technology – and in partnership with Autumn, we will change the health outcomes of many people for the better. I look forward to a fruitful deployment in APAC!”

Autumn is continuously enhancing and building its ecosystem to provide access to the most relevant tools, products, and services that can help users achieve a holistically healthier lifestyle.  The health services solution will be available to users by Q1 2022.

Autumn is currently available on the Google Play Store and Apple App Store.

1.https://www.oliverwyman.com/our-expertise/insights/2016/dec/oliver-wyman-risk-journal/emerging-risks/asia_s–20-trillion-elderly-medical-bill.html

dacadoo

dacadoo, named a 2021 “Cool Vendor in Insurance” by Gartner, licenses its Digital Health Engagement Platform, including its Health Score and Risk Engine to Life & Health insurance operators (B2B), supplying Insurtech and health-tech solutions to over 35 of the top 100 Life & Health insurance operators globally. Available in over 18 languages, dacadoo’s technology is provided as a fully branded, white label solution or it can be integrated into customers’ products through its API. Through its ‘Connect, Score, Engage’ offering, dacadoo supports Life & Health operators to motivate their clients to lead healthier lifestyles through its SaaS-based Digital Health Engagement Platform. dacadoo also provides its Risk Engine, which calculates relative risk on mortality and morbidity in real-time. dacadoo has over 120 employees across locations in Europe, North America and Asia-Pacific and over 100 filed patents around their digital Life & Health solutions. dacadoo is entirely committed to privacy and security, hence why it designs and operates its solutions in line with industry standards, laws and regulations such as the Swiss Federal Act on Data Protection, GDPR, and HIPAA. Its Information Security and Privacy Management System is certified according to world-renowned ISO 27001 and ISO 27701 standards.

Autumn Life Pte Ltd

Autumn Life Pte Ltd, a fintech founded in Singapore in 2020, is a bank agnostic platform incubated in and backed by SC Ventures, the innovation and ventures unit of Standard Chartered. Autumn’s embraces a holistic approach to retirement, empowering customers with tools to help them simplify their financial planning; financial literacy programme to improve their financial know-how as well as digital health solutions to help them make healthier lifestyle choices.

A neutral and bank agnostic platform, Autumn does not have any exclusive product partnerships and provides data driven recommendations that are in customers’ best interest. Autumn has put in place bank-level security measures to protect customers financial and health information. All data in the app are fully encrypted and only users have access to them. Autumn’s vision is to empower people to be retirement ready by offering them a holistic wealth, health and lifestyle solution. For more information, please visit autumn.sg. Follow Autumn on LinkedInFacebookInstagram and Twitter.

For further information please contact:

Corporate Communications

Rogier Keemink
Global Marketing Director
dacadoo

Rogier.keemink@dacadoo.com

Media Relations

Adeline Tiah
adeline@autumn.sg

Autumn Life Pte Ltd

Soure: https://autumn.sg/2021/10/20/autumn-partners-with-dacadoo/


METACO opens Singapore office to meet rising digital asset demand from financial institutions in APAC

OCTOBER 5, 2021

Lausanne, Switzerland – 05 October, 2021 – METACO, the leading provider of security-critical software and infrastructure to the digital asset ecosystem, today announces the launch of its Asia Pacific headquarters in Singapore, with a strong team managed by newly appointed Managing Director APAC, Patrick Enjalbal.

With demand accelerating for institutional-grade digital asset custody and trading infrastructure, the opening of the Singapore office and expanded APAC headcount demonstrates METACO’s commitment to offering best-in-class services to existing and future customers in the region, allowing the company to continue enabling banks and other institutions to safely enter the crypto economy through Harmonize, its digital asset orchestration system.

METACO has appointed Patrick Enjalbal, a former Director at Singapore-based financial technology consultancy, Luxoft, as its Managing Director APAC. Patrick brings over two decades of experience advising and managing the successful deployment of institutional-grade financial technology solutions in APAC and beyond. Martin Frick has also joined as Senior Sales Advisor. Frick was previously the Managing Director of Temenos APAC, where he led operations for the banking software provider across the region. In addition to leadership appointments, APAC headcount in business development and operations has increased significantly, with further expansion expected in the coming months. 

Andre Israel, COO at METACO, commented,

We are proud to announce the launch of our Singapore office and the appointment of Patrick Enjalbal as Managing Director APAC, ably assisted by Martin Frick. METACO continues to grow at a significant pace, and this expansion will enable us to cater to high levels of demand in the region, as well as continue offering best-in-class services to our existing APAC customers and partners.”

METACO enables institutions to secure, trade, and manage any cryptocurrency or digital asset. As institutions expand their digital asset operations, they often need to work with multiple third-party self-custody vaults, sub-custodians and liquidity providers. This creates institutional challenges in terms of security, and scalability, with a proliferation of access points weakening end-to-end processes. As a digital asset orchestration system, METACO Harmonize provides the unifying governance solution to manage this complexity and mitigate the risks for institutional digital asset managers in working with various partner solutions.

Patrick Enjalbal, Managing Director APAC at METACO, commented,

I’m thrilled to join the deeply talented team at METACO at such a pivotal time in the growth of the company. Over the coming months, we are looking to scale our operations in APAC to cater to the significant levels of interest that we are seeing from institutional clients in digital asset orchestration, integration and management.”

Alex Manson, Global Head of SC Ventures and Board Member at METACO, commented:

“It is clear that digital assets are here to stay, and furthermore that this particular market will experience extraordinary developments over time. Financial institutions are well placed to capitalize on this market opportunity, and we have already observed increased levels of adoption by banks and wealth managers in APAC. We are pleased to see our strategic partner METACO strengthening their presence in the region, driven exactly by this high demand for best-in-class secure and agile infrastructure for digital asset management.”

 

To learn more about METACO, please visit https://www.metaco.com/

Source: https://www.metaco.com/press_releases/metaco-opens-singapore-office-digital-asset-demand-financial-institutions-apac/

 

About METACO

METACO is the leading provider of security-critical software and infrastructure enabling financial institutions to enter and capitalize on the burgeoning digital asset economy. The company is backed by top institutional shareholders and trusted by leading banks, custodians, exchanges and infrastructure providers globally. 

Founded in 2015 in Switzerland, METACO brings together a diverse team of software, security, finance and cryptography specialists with close links to the banking, regulatory and academic sectors. 

www.metaco.com

Media Contact

WachsmanMaud Honner

E: maud@wachsman.com

P: +353 87 249 9198


Meet our intrapreneurs making Banking accessible for the Deaf Community

Banking services are predominantly offered and communicated through spoken language, leaving the Deaf community feeling disempowered as they often have to rely on and disclose personal information to the people around them to help them communicate with Bank staff.

This #InternationalWeekoftheDeaf, we celebrate our intrapreneurs, Rajesh Manoharan and Nandhini C, who have been exploring and validating their intrapreneur idea 💡 Deaf Friendly Banking, to provide accessible financial services to the Deaf community so they can bank independently! Find out more about the challenges the Deaf community face, and how Deaf Friendly Banking can bridge the gap between spoken language and Sign language for our deaf communities. 

 

 

Find out more about the challenges the Deaf community face, and how Deaf Friendly Banking can bridge the gap between spoken language and Sign language for our deaf communities. 

Shoutout to Jennifer McAuliffe and Jason Wiggin who’ve been key in coaching and helping the team navigate intrapreneurship within the Bank. Intrapreneurship is one of our key activities to promote innovation in Standard Chartered Bank