Banking Circle breaks the mold of payments. Specifically in the long run restricted by pre-existing policies before anyone thought about digital banking, they made the process of transferring money cheaper, faster, and easier for everyone. Using new systems, they make their mark on European and international banks, helping their clients make and receive payments, and ensuring that end customers receive seamless service.
Anders la Cour, founder of Banking Circle and CEO, shared some of the reasons why a Luxembourg-based bank is in the process of paying.
The work of the Banking Circle is carried out efficiently and effectively
Processing payments, especially when crossing borders, is slow and expensive. Businesses had to wait for money and small transactions were less expensive.
“An online banking network is a slow and expensive way to transfer money,” explains La Cour. “Cross-border transactions cost € 50 and can take up to five days to complete.” These costs and delays create significant barriers to trade across borders.
The goal of the Banking Circle, however, is to create global infrastructure that reduces costs and delays. “The goal is to cost only 50 cents and be completed within five minutes.” Their efficiency has already won over clients: by 2020 they are processing 6% of European e-commerce payments, a total of € 155 billion in payments.
Banking Circle offers a secure payment process.
All banks must have strong anti-money laundering policies, but continue to lose a lot of money. “It is estimated that more than 90% of the gross domestic product is unaccounted for,” said Cour, “costing the global economy $ 2 trillion annually.”
To make matters worse, anti-money laundering policies have a huge impact on real customers. In terms of ethics, they often start with inconsistencies in honest transactions. “The industry has a projected price target of 97-99%,” said Cour, “and that has a huge impact on customer relationships.”
Banking Circle improves this by using artificial intelligence and machine learning, this greatly reduces the error limit. Banking Circle clients benefit from increasing discovery and reduction of false positives. Most importantly, however, their end customers avoid distractions, and sometimes embarrassment, from improperly marked performance.
Banking Circle helps clients improve their service
“Ultimately, the most important thing for our customers is to keep their customers happy,” said Cour. “Our customers come to us demanding payments that will be successfully managed and processed quickly.” Through the use of AI and machine learning, Banking Circle can help their clients provide faster payments while continuing to meet regulatory and compliance standards.
Above all, it helps their clients focus on their core business. By reducing costs and delays for their customers, they can also provide more resources to customers who can expect faster and better service. In many cases, this could mean a lot of business. “Simplicity is a key sales force for any payment product; the customer cares easily. ”
Banking Circle leads in the formation of payment relationships
Banking Circle recognizes that technology supports the way modern businesses operate and evolves, but also that technology alone will not change payments. Therefore, it leads to building relationships to ensure that they have the infrastructure to handle the payment needs of their customers.
“Openness in collaboration is a key factor,” said Cour. “To be a good leader, you have to try new things and diversify your commitment to stay competitive.” Research evidence has highlighted the importance, and attractiveness, of FinTech’s partnership.
One example is the Nordic payments system, P27. Banking Circle has partnered with P27 to offer payments to Nordic payment infrastructure that was otherwise broken. It has become the first region in the world to offer an integrated payment system that crosses national borders to make it more cost-effective.
Bank Circle: new fintech
Business, be it banking, fintech or anything else, is just as good as an attractive talent. Banking Circle was at the forefront of the game in ensuring it was a great place where great people work. “Our employees are at the heart of what we do and, ultimately, that is what will help us succeed,” la Cour said.
Banking Circle used remote, flexible and mixed before being forced into many businesses by the Covid-19 epidemic. With a focus on finding the right people, they have groups and offices throughout Europe. And, combined with their cloud infrastructure, means they can offer integration and upgrades to customers freely and with minimal impact.
As the world increasingly uses digital transactions, regardless of political or economic boundaries, the Courts restore the Banking Circle position. “Fintech is one of the most exciting industries to be a part of,” he said.
Almost all sectors and services are digitized and we have seen this trend accelerate since the COVID-19 epidemic. The insurance industry, too, is rapidly opening up and now most of its services are offered online. The Bequest launch in London aims to continue to shake things up in this segment by providing simplified assets and life insurance on the market for a thousand years. It received $ 1.7 million in seed funding and introduced its new beta-tested insurance policy.
The next step
The latest round of Bequest finance was led by Kuvi Capital. Clock tower Ventures and Form Ventures are also participating, and all three investors will join the starter board as its platform rises. Bequest will use these new funds to further develop its product offerings and generate the delivery of its services. It is also affiliated with the Panda’s Foundation, but the exact details of this are still under wraps.
James Buckley-Thorp, CEO and founder of Bequest, says, “Currently, 38 million families are unsafe and unsafe every year. We, at Bequest, want to make sure that everyone is covered by making it orderly, accessible and affordable. ”Startup aims to educate its customers and has content available on its site for those who want to learn more. In addition, it offers users to change their policy up to 3 times and has a desire to address the premium gap, where those in poorer areas may end up paying more insurance premiums. Asset avoids this by not using customer posting codes as part of risk analysis.
Thymia brings mental illness to the 21st Century, with an AI-enabled platform for accurate and continuous patient monitoring. It is the first psychiatric diagnostic method, which combines multiple layers of body-rich data to assess stress and differentiate between similar disorders presented. Our technology will enable physicians to diagnose and treat depression more quickly, while allowing patients to develop a deeper understanding of their condition. Over time our goal is to become a gold standard for all mental health disorders and to show that mental illness is as real and measurable as physical illness, thus also helping to eradicate the associated stigma.
“We are introducing something that is changing in the market and we aim to change the way we behave, speak and share the stress as a result. We are pleased that Kodori, Calm / Storm, Form and Entrepreneur First have seen the power in this vision and are joining us in the next phase of this exciting journey. ”
Lucanus Polagnoli, Founder and Partner Manager at Calm / Storm, says: “We are very excited about the Theme. It will bring the same level of mental health care that we expect in the area of ??physical health. Emilia & Stefano impressed us from day one with their love, academic excellence, and strong commitment to building an inclusive mental health tool.
The Kodori AG team adds: “Thymia is fully set and capable of being the gold standard for mental health testing, and we are delighted to support Emilia and Stefano in their work.”
Ably in London is a platform that adapts digital experiences in real time. Now, the company has recently announced a $ 70 million (approximately £ 50.6 million) investment in Series B-funded series by Insight Partners and Dawn Capital LLP. The financial cycle includes the participation of existing investors including Triple Point, Digital Horizon, Leading Partners, and MMC.
Eyes to strengthen the UK team
These funds will be used to accelerate Ably’s growth and continuous platform deployment to provide organizations with a complete solution for loading increasing real-time data synchronization scales on distributed applications, devices, and hybrid cloud environments. Currently, Ably employs 65 people and plans to add another 125 recruits to strengthen its UK core team and grow US power in the next 15 months.
“When we introduced Ably five years ago, we had a clear idea that real-time communication would support rather than simply increase our daily digital knowledge. Today, our most important daily and digital experiences happen in real time. Business is critical now, and organizations see the need to continue and evolve to stay fit, ”said Matthew O’Riordan, CEO and founder of Ably.
“Insight has a proven track record of investing in industry disruptors and Ably is the right person for our fund,” said Teddie Wardi, Managing Director of Insight Partners. “Ably has shown that she has a vision for solving digital transition challenges in real time. The company is already a market leader and has been given the opportunity to grow further in what we believe to be a closed market. ”
Norman Fiore, General Partner and Founder of Dawn Capital, commented, “We all live our lives in real time. And now, we expect our digital lives to reflect this – whether it’s tracking parcels, gambling with friends, asking for goods or reviving the most important business infrastructure. As infrastructure and platform enable this experience, Ably helps companies operate in real time. I am very impressed with what Ably has done so far and I am happy to support the team to innovate and grow. ”
UKTN has now learned that OnBuy is in the process of closing its $ 30 million deal soon. An important source close to the agreement informed that OnBuy is in the advanced phase of completing a two-digit cycle (approximately £ 30 million). Today, the start of the campaign has been sent to journalists to announce the results of a major fundraising event.
OnBuy.com is one of London-based VC portfolio companies, Fuel Ventures, and the UK-based e-commerce business is set to increase its £ 5 million Series A investment by 2020, led by Fuel Ventures.
Recently, Fuel Ventures, which is the first phase of investing in the UK in the fastest growing digital technology businesses and has introduced £ 45M in startup technology in the country. As a company press release, the fund will be distributed over the next 12 months to more than the first 60 months. At the same time, Fuel Ventures also announced its commitment to provide support to pre-seed companies with this new fund.
Founded in Poole, Dorset in the UK in 2016 by businessman Cas Paton, OnBuy.com, the online marketplace is close to reaching unicorn status for $ 1B. The company is working to transform the e-commerce industry through a fair, transparent and ethical market that benefits both retailers and consumers. The British company already has a value of £ 180M and has a team of approximately 75 employees. After achieving more than 600% growth for the third consecutive year in 2020, the online market is now focused on gaining market share.
Check out this space for more updates.
As a result, Binance is currently not permitted to perform any regulatory activities without the written permission of the FCA.
It also advises people to beware of online and social media ads promising high returns on investments in cryptoasset or cryptoasset-related products.
The FCA’s move comes as regulators around the world scrutinize the crypto industry for its potential financial and other illegal activities.
Is it legal to buy and sell cryptocurrencies at Binance UK?
It is worth noting that Binance’s existing crypto-exchange exchange is not based in the UK. That is, it will not affect UK residents who use the website to buy and sell cryptocurrensets.
Since Binance is not registered with the FCA, it is therefore not allowed to use the exchange in the UK. “No other entity in Binance Group holds any form of authorization in the UK, registration or license to perform regulated work in the UK,” FCA said.
In addition to planning an exchange in the UK, the FCA also ordered Binance to stop any form of advertising on June 30.
Not the first time
This is not the first time Binance has been tested. The digital currency exchange platform has faced a number of challenges from various countries including, the US, Canada, Japan and Germany.
According to Bloomberg, Binance Holdings has been investigated by the US Securities and Exchange Commission (SEC) for money laundering and tax evasion.
Last week, the world’s largest cryptocurrency exchange was issued in Ontario, Canada, after the Ontario Securities Commission (OSC) was accused of failing to comply with provincial laws.
In addition, the Japan Financial Services Agency (FSA) has warned Binance of its use in the country without permission.
What is Binance?
Founded by Canadian-Chinese engineer Changpeng Zhao, Binance is a cryptocurrency exchange platform that integrates digital technologies and currencies. Based on the Cayman Islands, Binance witnessed more than 1.4 million transactions per second.
It offers other products including, Binance Exchange, Binance Academy, Binance Card, Binance Labs, Binance Charity Fund, Binance Launchpad, Binance Research, Trust Wallet and NFT.
In an interview with the BBC, Mr Saponaro, founder of the crypto-currency Divi and blockchain payments ecosystem
Removing mental health stigma
Bequest says he doesn’t do health tests and it also changes the way the insurance industry works by eliminating mental health discrimination. It claims to be the first provider to pay for suicide in the event of a suicide, with the exception of a 12-month waiting period allegedly offered to other insurers.
“Even though most companies have discriminatory clauses, we don’t believe that’s right. Mental health is outdated and incomprehensible and we have reviewed our documents to show that. Our set of questions focuses on your physical and mental health, ”said Thorp. “Working with organizations that help the bereaved, we are also able to raise awareness about their motives, to reduce stigma and discrimination.”
COVID and insurance
Since the epidemic affects different sectors in different ways, we asked how Bequest was affected. Torp notes that during the outbreak, they saw an increase of more than 4050% in life insurance claims. Additionally, when the epidemic broke out, the company immediately launched a will writing service with its will writing partners, James Pearson Estate Planning. Initiation has also grown by 320% since the outbreak began.
“Life is short, and our sense of morality has changed dramatically since the epidemic. It’s just that we continue to support everyone we can, but in a normal way, ”concluded Thorp.
The investment cycle was led jointly by Kodori AG and Calm / Storm. Others involved, Form Ventures, First Entrepreneur First, and angelic investors, participated.
Funding will go towards expanding its testing and stress management environment.
It empowers doctors
Thymia uses video games based on Neuropsychology alongside video and speech analysis to make mental health assessments smarter, starting with depression.
The online platform allows physicians to make faster and more accurate clinical decisions by making mental illness more accurately measured as physical manifestations.
How was Thymia born?
Neuroscientist Dr. Emilia Molimpakis and theoretical physicist Dr. Stefano Goria co-founded Thymia after a close friend of Emilia’s depression. Traditional methods of diagnosing depression have failed to convey the severity of his depression which has led to suicide attempts.
This has led Emilia to use her understanding of Linguistics, Cognitive Neuroscience, and Experimental Psychology to create a platform that can complement and eventually replace a high-level questionnaire supported by physicians using it and patients with mental health problems.
How does Tymia work?
Emilia and Stefano have developed video-style activities and challenges for patients to communicate with, such as verbally interpreting animated scenes or interacting with moving objects.
While users complete these games, the platform analyzes the streaming of data including, Voice (optional press and language modes), Video (tracking current emotions), and behavioral measures, including response times and error values.
The software then identifies a pattern of depressive data to help identify the diagnosis quickly and accurately. This approach allows physicians to determine the most appropriate course of treatment for a patient.
Collaboration with institutions
They have already established partnerships with several of the world’s leading institutions, including UCL and King’s College London, to help measure the use of technology in other cognitive problems.
The company collects data from hundreds of articles with major depression issues and generalization
Torp adds that the life insurance industry is ‘outdated and extremely complex’ and like many services, people need immediate access to life insurance online with more information and support. “We have seen that in the best response so far in our product. With this seed subsidy we can now significantly increase our growth and become our lifeline for the next thousand years, ”said Thorp.
Making modern life insurance
In an interview with UKTN, Thorp reveals a lot about Bequest and what it aims to achieve. The company was founded back in 2019 by James Buckey Thorp, after realizing how old the insurance industry was when it lost its partner in late 2017. and the needs and aspirations of the millennial generation as a whole. That’s where Bequest was born. ”
The launch focuses on its millennial delivery and claims that it challenges the current situation. Usually, filling out the insurance cover can take six weeks or more, however Bequest says he can do the same in 15 minutes. “People get instant cover, up to £ 500,000. To get there quickly, they know their family is supported no matter what, ”added Torp.