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Acquisition

Monese adopts Thought Machine's core banking platform Vault

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Monese adopts Thought Machine's core banking platform Vault
  • Monese to migrate European and UK account holders onto Thought Machine’s core banking platform
  • Thought Machine’s modern core banking technology combined with Monese’s mobile-first approach will unlock new features and capabilities for millions of customers

Monese, the popular pan-European banking service that provides instant and localised mobile money accounts in 31 countries, today announces it will adopt Thought Machine’s cloud native core banking platform Vault. Monese, which provides accounts to both consumers and businesses, will migrate its existing customer base onto Thought Machine’s cloud native platform, as it focuses on strengthening the company’s core technology platform and its banking infrastructure.

Vault’s unique product building toolkit, known as Smart Contracts, empowers banks and fintech companies to build new products rapidly while radically improving the onboarding and ongoing customer experience. This is in stark contrast to banks who are constrained by inflexible legacy technology. Vault will provide Monese with the cloud technology foundation required to deliver pioneering customer experiences at speed, and enhanced resilience for millions of its customers.

This partnership brings together two fintech companies with a shared vision for the future of financial services and a deep passion for engineering excellence in product development. Founded in 2014 by former Google engineer Paul Taylor, Thought Machine brings truly cloud native technology to core banking. Thought Machine names Lloyds Banking Group, Atom, SEB and Standard Chartered as clients and users of its platform, Vault.

Monese was launched in 2015 by entrepreneur Norris Koppel after his first-hand experience of the hassle involved with opening a bank account in a new country. With its mobile money accounts, portability across 31 countries, and its availability in 14 languages, Monese is instant, on-demand and financially inclusive. Its UK and European accounts will be powered by Vault to enable faster product delivery, greater resilience and a more seamless banking experience for new and existing customers.

Norris Koppel, CEO at Monese, comments: “At Monese, our goal is to provide truly modern portable banking services so customers have the freedom to thrive wherever they are in the world. By adopting Vault, we unlock new possibilities to deliver a seamless banking experience that  will  inevitably help us reach more customers.”

Paul Taylor, CEO at Thought Machine, adds: “The most ambitious, and most dominant technology companies, all run their systems entirely in the cloud. Monese has now joined an elite group of financial services companies which deliver innovation, security, and resilience to its customers, at scale. Vault’s hyper flexible core banking platform enables its clients to build and deliver banking services exactly as they want. We are excited to see Monese deliver on its vision of financial freedom using our truly cloud native platform.”

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Acquisition

Hillebrand Acquires Braid

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Hillebrand Acquires Braid

With this acquisition, Hillebrand aims to strengthen its position as a leading global logistics service provider not only for alcoholic beverages but also for other non-hazardous bulk liquids commodities.

Hillebrand, a world leading forwarding, transport and logistics provider to the alcoholic beverage industry and products that require special care, officially announces its acquisition of Braid, a key player in bulk liquids logistics.  Through this acquisition, Hillebrand strengthens its expertise in handling non-hazardous liquids in bulk, such as wine, olive oil, non-hazardous chemicals, juices and edible oils, which adds to its long-established experience in full service logistics services of cased goods.

“Braid offers an exciting opportunity for Hillebrand to strengthen its network of services, products, skills, knowledge and teams,” explains Cees van Gent, CEO and Chairman of the Executive Board of Hillebrand. “With its global reach, wide range of customized logistics solutions in bulk liquids transportation, as well as its manufacturing and technology know-how, the acquisition of Braid supports Hillebrand’s strategy to not only lead the market in logistics services for alcoholic beverages but also for non-hazardous bulk liquids.”

Braid is recognized as a diversified group offering innovative bulk liquids logistics services worldwide, which will not only complement Hillebrand’s array of bulk liquids solutions, but also expand its manufacturing capabilities, with two more facilities located in the United Kingdom and China.  The combination of Hillebrand’s bulk liquids services and Braid will create a world leading end-to-end service provider for bulk liquids and one of the largest food-grade ISO tank operators globally.

Allan Leddra, CEO of Braid, comments “Hillebrand’s acquisition of Braid provides a major growth opportunity for both businesses. The two companies will achieve more as a unit, increasing value for customers, given both companies’ high reputation for providing a leading customer experience in bulk liquids logistics.”  Allan Leddra and his management team will join Hillebrand to drive a successful integration and continue to grow the consolidated bulk liquids business of Braid and Hillebrand.  “We also share the same values and culture, so we are confident that our employees will smoothly integrate in the new organization and will find new growing opportunities within Hillebrand.”

Both Hillebrand and Braid share their commitment for a safe and sustainable transportation of goods, with high investments in R&D to create innovative and environmentally friendly solutions for their customers.  The shared knowledge and expertise in non-hazardous commodities, the aim to provide an end-to-end service to even more customers, in addition to a wider product offering, are part of the benefits of bringing the two companies under one corporation.

Despite the current global Covid-19 situation, Hillebrand’s and Braid’s service and financial performance have remained very resilient. Hillebrand continues to pursue its business plan objectives of growing both organically and through acquisitions, to expand customer service and tailor-made solutions worldwide.  “This marks a further step in our journey to make Hillebrand an even more robust, bigger and better company than it is today, through our buy and build strategy,” details van Gent. This acquisition represents the third one in the past year, after 3W-Logistik (Germany) and Royal Logistics (USA), and is expected to result in greater efficiencies and significantly increase Hillebrand’s product offering.

Hillebrand’s bulk liquids services and Braid will, for the time being, continue to run their operations separately. However, bringing both businesses together will gradually unfold within the next 12 months.  “It goes without saying that our customers will continue to receive the same high quality service, which they have come to expect,” concludes van Gent.

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Acquisition

Gulf Stream Marine Expands Network with Acquisition of Alabo Street Terminal operations at Port of New Orleans

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Gulf Stream Marine Expands Network with Acquisition of Alabo Street Terminal operations at Port of New Orleans

Gulf Stream Marine, Inc. (“GSM”) announced the strategic acquisition of the Alabo Street Terminal operations located in the eastern section of the Port of New Orleans (“Port NOLA”). This is the second terminal, along with its Lake Charles terminal, that GSM is operating in Louisiana, and the first at the world-class Port of New Orleans.

“Expanding GSM’s reach and bringing our specialized expertise to serve break-bulk and project cargo customers at the Port of New Orleans was the next step in our growth plan,” explained Michel Miron, Executive Vice-President. “We worked very closely with the leadership team at the port to find the perfect fit for our service offering and we look forward to working together to grow this viable gateway.”

The Port of New Orleans is a deepwater port located on the Mississippi river near the U.S. Gulf and offers customers seamless supply chain solutions from river to rail to truck. The Alabo Street Terminal is connected to Class 1 rail and highway systems and serves markets in the southern states and the U.S. Midwest, serving shippers from around the world. With GSM’s growing network of nine terminals in ports in Texas, Louisiana and Mississippi, the addition of the Alabo Street Terminal offers further options for customers looking to access new markets.

“Gulf Stream Marine is highly respected for their operational expertise with breakbulk, bulk and heavy-lift cargo, and they are a welcome addition to our tenant portfolio,” said Brandy D. Christian, President and CEO of Port NOLA and CEO of the New Orleans Public Belt Railroad. “Our partnership with GSM reinforces and strengthens Port NOLA and the region’s position in the global supply chain.”

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Acquisition

Hospitality Brand Selina Acquires Remote Year Brand and Doubles Down on Remote Work and Subscription Model

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Hospitality Brand Selina Acquires Remote Year Brand and Doubles Down on Remote Work and Subscription Model

Selina, the global hospitality platform, has today announced its acquisition in an all-stock transaction of the Remote Year’s brand and customer base. Remote Year empowers professionals to embrace the remote work movement by taking their careers outside of the traditional office.

Selina and Remote Year represent two of the leading brands in the travel and remote work categories and this acquisition strengthens both brands’ prospects for growth and expansion in a post-pandemic world. Remote Year will continue to exist as its own brand and will utilize Selina’s catalogue of best-in-class properties, spanning 19 countries and 3 continents, to improve its customer experience. Selina will leverage Remote Year’s community of driven professionals and remote workers as it focuses on longer-term stays and its remote work offering. As a collective, Selina and Remote Year will work together to tailor products that fit the needs of this expanding market.

The acquisition is one of a number of moves Selina is making to double down on its stay, play and “work from anywhere” model, including the recent launch of Selina’s subscription-based travel packages. This newly developed subscription offering is geared to the all-time high demand for remote work, with approximately 40% of employees expected to utilize a remote working model in the future. Allowing people to travel the world at the cost of their rent, or in some cases, even less, the program builds not only on Selina’s adoption of the remote work culture but also the societal WFH shift as a result of the pandemic.

The model has launched with three different passes – the Nomad Passport for those who want to purchase multiple stays ahead of their travels, Selina CoLive for the remote worker who wants to live/work at a Selina property for an extended period of time, and the B2B Remote Work Pass for the frequent remote worker who wants to stay at a Selina property for a fixed period of time per month, and is paid for by their employer, allowing companies to bring this level of flexibility to their teams. Each subscription package enables travelers to move freely amongst Selina properties, either regionally or globally, inclusive of accommodations, coworking spaces, daily wellness activities, weekly laundry and discounts for food and beverage, with prices starting at just $180 per month in some locations.

“At Selina, we have always supported flexible remote work models and believe they result in an increase in productivity and a reduction in turnover for businesses. With the acquisition of the Remote Year brand, and the launch of our subscription-based packages, it’s clear that our business model is one designed for this new age of working, and is well-positioned to support not only long-standing digital nomads but also a new generation of remote workers that are being offered more flexible work environments by companies looking to attract and retain talent”, said Selina Co-Founder and CEO Rafael Museri.

“We could not be more thrilled to join the Selina family. We have previously partnered with Selina in multiple markets over the last few years, and look forward to utilizing their global team and infrastructure to power our best programs yet. As travel resumes and more professionals work remotely, we are planning for a surge in demand for our transformational 4 and 12-month work and travel programs”, said Remote Year Co-Founder and CEO, Sam Pessin.

“As we look to a new era of travel and hospitality, we plan to continue expanding our product to offer unique experiences at the intersection of culture, work and travel, that ultimately make it easier than ever for a new generation of worldly travelers to pursue their most fulfilling lives”, said Museri.

ABOUT SELINA

Selina is one of the world’s fastest-growing hospitality brands, blending beautifully-designed accommodation with coworking, recreation, wellness, and local experiences. Custom-built for today’s nomadic traveler, Selina provides guests with a global infrastructure to seamlessly travel and work abroad. Founded in Latin America in 2015, each Selina property is designed in partnership with local artists, creators, and tastemakers, breathing new life into existing buildings in interesting locations around the world — from urban cities to remote beaches and jungles. Selina currently operates 76 locations throughout Latin America, USA, and Europe.

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