The Monday Roundup: what we are watching this week | March 4th

By Puja Sharma

The Monday Roundup sets the scene for the week’s biggest news stories, industry deals, and upcoming events. For Prime subscribers only.

Building new card programs

Marqeta, the global modern card issuing platform, has partnered with AffiniPay, an online payments and software solutions for professionals.

Marqeta will power the upcoming launch of MyCase Smart Spend, a spend management solution powered by a LawPay Visa SMB revolving credit card embedded directly within the MyCase platform that helps firms streamline their expenses and better manage their finances.

“Marqeta fully understands the complexity of building new card programs that are tailored to the specific needs of legal professionals,” said Bryan Thompson, Chief Technology Officer of AffiniPay. “We sought a partner that could help us deliver on our promise of giving our customers better insights into their finances and improving efficiency. We’re looking forward to working with Marqeta to bring this product to market and continuing to deliver innovative solutions in credit.”

Veefin Solutions has announced the addition of ‘FinnUp,’ a multi-lender platform, to its growing list of customers in the FinTech segment in India.

As a B2B debt platform since its inception, FinnUp allows SMEs and corporates to access multiple lenders on a single platform. Veefin’s LOS and SCF systems underwrite the borrowers and provide lenders access to their SCF systems to help digitise the SCF flow at the lender’s end. This collaboration will specifically help FinnUp partner with multiple lenders for SCF.

Raja Debnath, Managing Director of Veefin Solutions, said, “We are pleased to be a part of FinnUp’s journey as they seek to expand the pool of lenders available to SMEs for various short- and long-term loan products. Veefin’s goal is to continue empowering the FinTech ecosystem, which is innovatively solving the access to finance problem to MSMEs.”

Conduct business safely

AsiaVerify, a RegTech solution provider, has announced a partnership with Visa, a global payment technology.

This partnership aims to unlock opportunities for financial institutions by combining AsiaVerify’s expertise in Asia Know Your Business (KYB), Ultimate Beneficial Ownership (UBO) verification, and Know Your Customer (KYC) services with Visa’s extensive network and resources.

The partnership empowers more businesses to cut through the noise and connect with AsiaVerify, enabling them to manage costs effectively with an exclusive commercial package. The value provided through exclusive pricing underscores the shared commitment of both companies to deliver benefits to their clients.

“We are beyond thrilled to embark on this incredible journey with Visa,” said Elizabeth Fitzell, AsiaVerify’s COO. “This collaboration will enable us to tap on Visa’s global reach and expertise, enabling us to help organisations conduct business safely in Asia using our award-winning technology and in-depth regional knowledge.”

TrueNorth and Brim Financial have partnered to bring robust and innovative consumer, small medium business (SMB) and commercial credit card solutions to banks, FinTechs and major brands in the US and Canada.

TrueNorth’s CEO, Alex Gonikman, said, “We are delighted to join forces with Brim, a company that is disrupting the industry. Our collaboration with Brim perfectly aligns with our mission of bringing best-in-class technologies to our customers. Through this partnership TrueNorth will co-invest in creating dedicated Brim delivery expertise, as well as assets and accelerators, including pre-integrations, methodologies and best practices to increase project predictability and speed to market.”

This partnership marks a significant milestone in the credit card industry, as it brings together two leading companies with complementary strengths and visions. Brim and TrueNorth will invest in joint go-to-market and co-innovation efforts as well as building a highly integrated delivery organization that provides the scale and elasticity to support Brim market expansion.

What is the buzz

National Bank of Oman (NBO) has established an alliance with Habib Bank Limited (HBL), Pakistan, marking a milestone in the banking industry in a move to elevate the customer experience.

Commencing in March 2024, NBO will introduce instant fund transfers to Pakistan at competitive exchange rates through a direct corridor partnership with HBL. This collaboration aims to streamline international remittances to Pakistan, enabling a more efficient and timely service.

Tariq Atiq, General Manager and Chief Retail & Digital Banking Officer at NBO, said, “Our partnership with Habib Bank Limited reinforces our commitment to delivering innovative financial solutions and enhancing the overall banking experience for our customers. With its status as the oldest, largest, and inaugural commercial bank in Pakistan, HBL brings a wealth of experience and an extensive network within the Pakistani banking sector. Our dedication to expatriates is evident in our efforts to deliver swift, secure, and convenient remittance options through the instant fund transfer service to Pakistan.”