Single euro payments area (SEPA) payment solutions provider, Sentenial, will invest more than €20m over the 15 month period between now and the SEPA end date to expand across Europe. The expansion plans include several new European offices and a recruitment campaign to support service delivery and development.
The EU regulation, which introduced the SEPA end date, has created a deadline of 1 February 2014, by which time all credit transfers and direct debits in euro must migrate to the new pan-European SEPA standards. Sentenial offers solutions to manage that migration and the ongoing management of payments thereafter.
The first phase of the plan includes offices in Amsterdam, Frankfurt and Paris. Each office will house local support and sales resources. Sentenial is also expanding its pan-European partner programme and is actively seeking partners to bring the Origix product suite to market throughout Europe.
Sentenial chief executive officer (CEO) Sean Fitzgerald said: “We have steadily expanded the organisation over the past 12 months in response to increasing demand and success. This investment will enable us to accelerate product enhancement and pull in our roadmap for next-generation SEPA – post end date. Our customers will see accelerated product feature and new service evolution. Building on our presence in many countries by opening permanent offices we will enhance the service experience of our customers domestically and internationally.”
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.
On the third day of the Singapore Fintech Festival conference, there was a focus on specific applications of fintech innovation. One was trade finance, which is clearly is ripe for a revolution.
Kicking off day two of the Singapore Fintech Festival, Deloitte Chairman David Cruikshank said that fintech is significant for three reasons. First, customer expectations of services are higher than ever. Second, barriers to entry are lower than before. And finally, financial institutions (FIs) face a threat of what a competitor might do.