News from Microsoft, DigniFi, Scalefast, Azure, and more, this week in Fintech.
PEOPLE
BTIG Hires Samantha Huggins as New Managing Director
Global financial services firm BTIGOpens a new window announced that Samantha Huggins would take over as the new Managing Director of the Institutional Equities division based in London.
Rahul Auradkar Becomes Chief Product Officer at Capitolis
SaaS platform for financial resource optimization, CapitolisOpens a new window , has appointed Rahul Auradkar as their Chief Product Officer. Auradkar, who will lead the product development efforts of the company globally, joins Capitolis from Microsoft, where he led the product and engineering teams for Azure and Office 365.
FUNDING
DigniFi Raises $14M In Series A Led by BuildGroup
DigniFiOpens a new window , an AI-powered SaaS-plus financial platform, raised $14 million in series A funding round led by BuildGroup and with participation from Exor Seeds..
Tech News: Latest Fintech News: Week of June 15, 2020Opens a new window
PARTNERSHIP
Credorax Delivers Anti-Money Laundering Solution With Feedzai
Smart payment provider CredoraxOpens a new window , and risk management platform Feedzai, announced a partnership to deliver advanced anti-money laundering (AML) and anti-fraud capabilities to Credorex merchants. The solution will provide enhanced payment security, reduced operational costs, and improved customer experience.
Innoveo SIMS Partner Over No-code Technology
Zurich Headquartered global technology firm, Innoveo, and Dubai-based Sidani Innovative Management Services DMCC (SIMS) have entered into a strategic partnershipOpens a new window to promote no-code technology. The goal is to accelerate and assist the regional (re)insurance ecosystem in the rapid adoption of innovative technologies and to successfully implement digitization initiatives.
Azure to Power Allica For UK SMB Business Banking
Allica, the business bank focused on SMBs in the UK, is going to leverage Microsoft’s cloud platform Azure to store customer data securely. The bank has been working closely with Microsoft’s Fast Track to build a system within Azure to keep customer data secure and comply with strict regulations.
PRODUCT
Techemy Capital Launches New Open Finance Products for Investors
Regulated financial services provider and funds management company Techemy Capital Opens a new window launched DeFi-based investable products to help investors tap into the open finance ecosystem leading the way to a truly decentralized financial system.
“The BTC and ETH pairs are designed to be an evolution on ‘Hodling.’ Many industry participants fail to time the market and now more actively seek to hand over their coins and keys to money managers. Our solution offers a non-custodial option where users can keep their private keys and control while allowing professionals to rebalance and hedge accordingly – a world first.†Fran Strajnar, Executive Chairman of Techemy Capital, shared while speaking exclusively with Toolbox.
“As for the yield product coming out a week later, that is designed to offer market participants something more attractive than just sitting on stable coins. It avoids exposure to the volatility of bitcoin or ETH and focuses on the yields available in Defi. It is liquid, instantly redeemable, and earns interest. So we asked ourselves: Why sit on Tether when you can have a similar risk profile and earn interest but also the ability to redeem anytime at user’s discretion. Ultimately these are all new generation tools for the market participants tool belt to help achieve better performance without complex administration,†Strajnar added.
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