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Financial It Financial IT is a digital magazine and online platform that features trends in FinTech sector Visit our website: www.financialit.net

Established about five years ago, Financial IT is the venue where community makes itself heard. Innovation is the common feature of the companies that we work with. Some are FinTech disruptors, posing a direct challenge to established institutions. Others are technology companies, providing solutions that produce positive outcomes for the institutions and their clients. We provide a digital platform for product listings, multimedia and other editorial content, reviews by financial IT companies’ clients, and overviews of major trade events. Financial IT magazine is published around 8-10 times a year in digital form. It is also available in print form at trade events through media partnerships. We believe that our competitive edge comes from our established relationships with financial IT companies and institutions, the breadth of the solutions described and the quality of content. Financial IT provides a detailed map of the ever changing space where the broadly defined financial services sector meets the IT sector.

The Cost of Managing Multiple Payment Providers: Where the Money Actually GoesThe widespread adoption of multi-provider ...
06/10/2026

The Cost of Managing Multiple Payment Providers: Where the Money Actually Goes

The widespread adoption of multi-provider payment stacks did not mark the beginning of financial operational complexity; merchants and digital enterprises have juggled multiple processing partners for decades. Instead, the persistent rise of cross-border commerce - with businesses managing fragmented API versions, manual reconciliation workflows, and unmonitored approval dips - has radically compressed the operational optimization window, shifting financial benchmarks and intensifying the need for unified orchestration infrastructure overnight.

While traditional payment teams successfully negotiated lower blended processing rates, they simultaneously exposed a major structural bottleneck: the operational chasm between treating payment provider fees as the sole cost of processing and recognizing the hidden overhead of multi-PSP management as a core drain on enterprise resources.

For many scaling businesses, the risk is not just the immediate friction of a bloated fee schedule or a delayed month-end close. This friction is rarely caused by a failure of the core payment gateway itself. Rather, it is the direct byproduct of blurred systemic boundaries, where siloed statement formats, integration upkeep backlogs, and the absence of a centralized control layer collide with the real-time demands of financial governance.

To successfully scale payment operations, organizations must resolve these underlying visibility and architectural constraints. Businesses frequently treat a simple "hook," such as a basic log forwarder or a manual spreadsheet tracker, not as the variable, but as the solution. By attempting to manage multi-acquirer portfolios, custom decline taxonomies, and cross-border routing without a unified control layer, they establish the foundation for silent approval leaks, change latency, and diverted engineering hours. Concurrently, operational evaluations must move beyond high-level transaction volume metrics; institutions need to audit integration maintenance costs, reconciliation drift, and routing agility to identify how a seemingly minor operational bottleneck can create a massive margin vulnerability elsewhere.

In this landscape, organizations that treat payment orchestration and unified control layers as a load-bearing architectural product possess a distinct structural advantage; by designing systems that normalize data, automate routing, and consolidate reconciliation, they simultaneously construct the robust defensive foundations required for predictable, secure, and resilient operations.

In a recent analysis, Denys Kyrychenko, Co-Founder & CEO at Corefy, deconstructs this enterprise ex*****on gap, detailing why the integration of centralized control planes, automated routing rules, and dedicated payment ownership will ultimately dictate the long-term winners of the digital payments sector's fight to move beyond legacy operational friction.



📌 Read the full executive insights here: https://financialit.net/blog/payments/cost-managing-multiple-payment-providers-where-money-actually-goes

Wise Adds Flexible eSIM Data Plans and Cross-Border QR Payments📎 Wise has launched a combined eSIM data plan and cross-b...
06/10/2026

Wise Adds Flexible eSIM Data Plans and Cross-Border QR Payments

📎 Wise has launched a combined eSIM data plan and cross-border QR code scanner in one app ahead of the peak year-end travel season, addressing "arrival anxiety" — landing in an unfamiliar country without mobile data or a local way to pay. A Wise-commissioned YouGov survey of more than 14,000 travelers across eleven countries found 62% of adults who traveled internationally in the last year rely on hotel Wi-Fi abroad, with 24% buying unwanted café items for free Wi-Fi, 15% standing outside attractions to use their Wi-Fi, and 7% asking strangers to share a hotspot.

📎 Cash management was the most common payment problem reported abroad (43%), and of those who experienced challenges, almost 40% missed out on local experiences like street food markets. Wise's eSIM offers customizable data plans in more than 150 destinations, with one-time installation, custom controls, data estimation guidelines, refunds for unused plans, and instant activation. Its QR scanner connects local payment schemes including PayNow (Singapore), QR Ph (Philippines), DuitNow (Malaysia), Pix (Brazil), PromptPay (Thailand), Swiss QR-bill (Switzerland) and Qvik (Hungary) in one app.



👉 Read the news in full here: https://financialit.net/news/payments/wise-adds-flexible-esim-data-plans-and-cross-border-qr-payments

Ecommpay Helps Merchants Reach More Vietnamese Customers📎 Ecommpay, an inclusive global payments platform, has added Vie...
06/10/2026

Ecommpay Helps Merchants Reach More Vietnamese Customers

📎 Ecommpay, an inclusive global payments platform, has added VietQR to its alternative payment methods (APMs) for merchant partners. VietQR connects over 2 million businesses with 50 million registered users across Vietnam and 60+ participating banks, supporting hundreds of millions of transactions monthly. Preferred by around 70% of shoppers in Vietnam, VietQR lets customers pay via their preferred Vietnamese banking app or digital wallet without entering card details or downloading a new app.

📎 Payments are displayed in Vietnamese D**g (VND) for customer review and approval, while merchants can settle in EUR or USD, typically the next business day. Payment status updates as soon as the transaction is confirmed. VietQR through Ecommpay is available via desktop or mobile, compatible with banking apps and supported Vietnamese digital wallets, with an interoperable model allowing merchants to display one QR code while customers choose how to pay.

💬 "Customers will often abandon a purchase if they cannot pay with their preferred local payment method, so we are committed to offering as many payment methods as possible. With VietQR now available for our merchant partners to add to their payment options, we are helping merchants reach more Vietnamese customers. VietQR provides our merchant partners with an easy way to expand into the Vietnamese market and its growing digital payments market, by offering local customers a smoother and more familiar checkout."
– Max Ryzhov, Chief Product Officer, Ecommpay



👉 Read the news in full here: https://financialit.net/news/payments/ecommpay-helps-merchants-reach-more-vietnamese-customers

finmid Partners with Bolt and Skroutz to Expand Embedded Lending📎 finmid co-founder Max Schertel said small businesses h...
06/10/2026

finmid Partners with Bolt and Skroutz to Expand Embedded Lending

📎 finmid co-founder Max Schertel said small businesses have lacked a lender who could see them, and that platforms with a live, embedded view of the businesses they power are uniquely placed to fill that gap. He noted that with Bolt, finmid is financing the cars fleets run on, and with Skroutz the marketplace itself is putting its capital behind its merchants, with finmid's job being to make that credit safe, fast and regulated.

📎 Joshua Okeleke, Europe BD Lead at Bolt, said fleet operators are essential to ride-hailing but access to vehicles and financing can be a real barrier to growth. He said Bolt Vehicle Solutions helps remove that barrier by combining preferential vehicle deals with a simpler path to financing and ownership. Nick Kalliagkopoulos, Partner at Big Pi Ventures, said embedded lending is now essential infrastructure for marketplaces and that finmid is built to deliver it, citing its capital light structure, licensing and geographic foothold, and its traction in southeast Europe.

💬 "Small businesses have never lacked ambition – they've lacked a lender who could see them. Platforms, with their live and embedded view of the businesses they power, are uniquely placed to fill that gap, and finmid exists to make it happen. With Bolt we're financing the cars that fleets run on; with Skroutz the marketplace itself is putting its capital behind its merchants. Our job is to make that credit safe, fast and regulated – whoever provides the money and whatever businesses need it for."
– Max Schertel, Co-founder, finmid

💬 "Fleet operators are essential to making ride-hailing work, but access to vehicles and financing can be a real barrier to growing their businesses. With Bolt Vehicle Solutions, we’re helping remove that barrier by combining preferential vehicle deals with a simpler path to financing and, ultimately, ownership. That gives our fleet partners a stronger foundation to invest in their businesses, put more vehicles on the road and grow alongside rising passenger demand."
– Joshua Okeleke, Europe BD Lead, Bolt

💬 "Embedded lending is now essential infrastructure for marketplaces, and finmid is built to deliver it. Their capital light structure lets them grow quickly, and their licensing and geographic foothold make them a partner marketplaces can plug in once and scale everywhere. Their traction in southeast Europe, a region many overlook despite its size, is proof of how much whitespace is still out there."
– Nick Kalliagkopoulos, Partner, Big Pi Ventures



👉 Read the news in full here: https://financialit.net/news/fundraising-news/finmid-raises-eu17m-and-expands-vehicle-financing-and-marketplace-loans-first

The 25th NextGen Payments & RegTech Forum Arrives in Athens, Greece📎 The 25th NextGen Payments & RegTech Forum, a leadin...
06/10/2026

The 25th NextGen Payments & RegTech Forum Arrives in Athens, Greece

📎 The 25th NextGen Payments & RegTech Forum, a leading payments, regulatory technology and compliance event in Greece, will take place on 14 October 2026 at the Marriott Hotel, Athens. The Forum is recognised as a leading RegTech conference in Greece and a key payments summit in the region, offering insight into the digital euro, instant payments, AML reform and responsible AI across financial services.

📎 The event will welcome senior executives, regulators and industry visionaries for a day of discussions and exclusive networking, with over 35 industry specialists taking the stage representing organisations such as Bank of Greece, Hellenic Capital Market Commission, Ministry of Finance Hellenic Republic, National Bank of Greece (NBG), Alpha Bank, Eurobank, Mastercard, Worldline, Revolut, Paysafe Payment Solutions Ltd, Nexi Greece, KPMG Greece, BakerTilly, Euronext Athens, Rakuten Viber, Liberty IT Consulting Group, SysPay, Finductive, Borderli, Hypodome & Loanverse, HarborLab, Digicon Services, Veracloud, Discai, EWC Investments, BoxNow, Moneygate Solutions, Cooperative Bank of Karditsa LLC, ESTIA Payments, Noto360 and National and Kapodistrian University of Athens. The Forum is proudly sponsored by Veracloud, EWC Investment, MoneyGate, NOTO360, Infocredit Group and Discai.



👉 Read the news in full here: https://financialit.net/news/fintech-startups/25th-nextgen-payments-regtech-forum-arrives-athens-greece

Walker Crips Selects WealthAI for Firm-Wide AI Rollout📎 Walker Crips, the £4.5bn AUMA UK investment management firm, has...
06/10/2026

Walker Crips Selects WealthAI for Firm-Wide AI Rollout

📎 Walker Crips, the £4.5bn AUMA UK investment management firm, has selected WealthAi as its AI operating system across its business. The firm will initially deploy WealthAi's compliance agents to help teams monitor, flag and audit client communications, reducing reliance on manual spot-checks and spreadsheets, with the agents integrating with existing systems and analysing structured and unstructured data across email, voice and documents.

📎 The rollout will then expand to 70 users across the business, bringing employees and AI agents together on a single platform for safe, secure and entirely private collaboration. Walker Crips joins a growing number of wealth management firms using WealthAi, following a series of new product launches from WealthAi this year, including AI agents for KYC and client onboarding, WealthAi for Advisors and its Compliance Solution.

💬 "What attracted us to WealthAi was that they've moved beyond single-purpose AI tools and built something specifically for wealth management, one that understands the regulatory complexity and need for trusted, explainable intelligence our sector demands."
– Sean Lam, CEO, Walker Crips

💬 "The firms that succeed with AI won't simply digitise existing processes; they'll rethink how knowledge and expertise are delivered across the organisation and to clients. AI is moving fast and this is an exciting opportunity to show what enterprise AI can look like across a wealth management firm."
– Jason Nabi, Founder and CEO, WealthAi



👉 Read the news in full here: https://financialit.net/news/artificial-intelligence/walker-crips-selects-wealthai-firm-wide-ai-rollout

More Brits Say High Street Banks Have Worsened as Digital Rivals Pull Ahead📎 New research from CRIF shows traditional hi...
06/10/2026

More Brits Say High Street Banks Have Worsened as Digital Rivals Pull Ahead

📎 New research from CRIF shows traditional high street banks and building societies are the only financial provider type where UK consumers are more likely to say service has worsened than improved over the past three years (29% vs 26%). Digital banks and fintechs are firmly in positive territory, with 43% of consumers saying their service has improved versus just 7% who say it has worsened — a net score of +36, compared with -3 for traditional banks.

📎 While UK consumers broadly welcome digital financial services — 41% say they have made managing money easier and 48% say they can manage finances 24/7 — a significant minority feel the shift has come at a cost. One in five (20%) say branch closures have made it harder to get support, 16% say digital growth has decreased service quality, and 15% believe digital services were introduced only to reduce providers' costs. Separate research shows nearly half of UK consumers (49%) have now opened a digital-only bank account, up from 40% in 2025 and 36% in 2024.

💬 "What is striking is how traditional banks are falling behind. It's clear that consumers broadly welcome the rise of digital banking services but remain frustrated when this digitisation leaves them with poorer services that lack human support. As the only provider type that customers think has worsened rather than improved, incumbents can no longer rely on their scale or legacy alone to retain customers."
– Sara Costantini, Regional Director for the UK & Ireland, CRIF



👉 Read the news in full here: https://financialit.net/news/banking/more-brits-say-high-street-banks-have-worsened-digital-rivals-pull-ahead

PayDo Selects Convera to Expand SWIFT Receivables and Onward Cross-Border Payments📎 PayDo has selected Convera to bring ...
06/10/2026

PayDo Selects Convera to Expand SWIFT Receivables and Onward Cross-Border Payments

📎 PayDo has selected Convera to bring expanded SWIFT receive capabilities into its existing platform, enabling customers to receive funds via SWIFT and manage onward payment flows through a more connected experience without PayDo having to build the underlying capability independently. The partnership reduces the need for additional banking relationships and supporting infrastructure, delivering fewer provider relationships, easier reconciliation, and a clearer receive-to-onward-payment workflow.

📎 PayDo processes over €5 billion annually for more than a thousand businesses across e-commerce, digital goods, iGaming, and financial services. Convera combines global payment infrastructure with more than 40 years of foreign exchange and cross-border payments expertise, moving nearly $200 billion in payments annually across more than 140 currencies in 200+ countries and territories. The collaboration supports PayDo's strategy of bringing complementary payment capabilities into one client experience.

💬 "Our aim is to give businesses one simpler way to manage the different stages of their payment journey. Working with Convera enables us to extend how clients receive international funds through the PayDo platform and move them onward with less operational complexity."
– Serhii Zakharov, CEO and founder, PayDo

💬 "Growing businesses need international payments to work as one connected flow, not as a series of separate accounts, providers and integrations. By combining PayDo's client experience with Convera's global payments network and expertise, we are making it simpler for businesses to receive and move money internationally as they grow."
– Meaghan Riley, Chief Commercial Officer, Convera



👉 Read the news in full here: https://financialit.net/news/payments/paydo-selects-convera-expand-swift-receivables-and-onward-cross-border-payments

Castles Technology Expands SoftPOS Flexibility with PCI MPoC Validation📎 Castles Technology has completed PCI Mobile Pay...
06/10/2026

Castles Technology Expands SoftPOS Flexibility with PCI MPoC Validation

📎 Castles Technology has completed PCI Mobile Payments on COTS (MPoC) validation across all three elements of its SoftPOS portfolio. Its Attestation and Monitoring (A&M) Service and end-to-end MPoC Solution now join its previously validated MPoC Software. The validation gives acquirers, PSPs, gateways and ISVs greater flexibility in bringing SoftPOS services to market — whether integrating payment acceptance into an existing application, using Castles Technology for security monitoring infrastructure, or deploying a complete solution.

📎 The portfolio is designed to support partners at different stages of SoftPOS deployment: an isolated MPoC SDK for integration into existing applications, a hosted A&M Service providing device attestation, security monitoring and risk assessment, and a validated end-to-end MPoC Solution supporting Android devices with contactless acceptance and PIN entry. The portfolio sits alongside Castles Technology's Android payment terminals and CaSERV managed payment services, reflecting the view that phone-based acceptance extends, rather than replaces, dedicated payment hardware.

💬 "SoftPOS has reached the point where the question for many payment providers is no longer simply whether to offer it, but how. Some want to own the entire experience, while others want to get to market quickly or avoid building complex security infrastructure themselves. By validating our software, our monitoring service and a complete solution, we can meet partners wherever they are in that journey and help them bring secure SoftPOS acceptance to market in the way that best fits their business."
– Jean-Philippe Niedergang, CEO EMEA, Pacific and LATAM, Castles Technology

MPoC

👉 Read the news in full here: https://financialit.net/news/payments/castles-technology-expands-softpos-flexibility-pci-mpoc-validation

Confide Unveils Agentic Governance Platform to Replace Fragmented GRC Point Solutions📎 Confide has unveiled a holistic a...
06/10/2026

Confide Unveils Agentic Governance Platform to Replace Fragmented GRC Point Solutions

📎 Confide has unveiled a holistic agentic governance platform that unifies governance, risk and compliance (GRC) into a single system, ending reliance on disconnected point solutions. The platform provides a shared environment for professionals to set and practice GRC standards with AI agents while retaining full human oversight, and is designed to govern both people and the AI agents working alongside them.

📎 Founded by Pav Gill, a prominent whistleblower from the Wirecard scandal, Confide has been setting standards for improved corporate governance since 2024. The platform combines case management, policy, risk and audit with workflows for third-party risk, incident response, health and safety, law enforcement requests and AI governance. It is model-agnostic, connecting policies, risks, cases, people, vendors and decisions in a single live governance record with a defensible audit trail for every action by a person or agent.

💬 "Businesses have spent years paying extortionate amounts for software that still leaves their people piecing together the events of internal incidents. When a serious concern arises, nobody should have to search across multiple systems to work out the individuals involved and how they handled the situation. Legacy GRC tools were never built for a world where billions of AI agents will help run companies, with humans in the loop. We built Confide to allow professionals to defensibly manage and audit trail critical issues from start to finish, whether those issues involve people, AI agents or both."
– Pav Gill, Founder and CEO, Confide



👉 Read the news in full here: https://financialit.net/news/artificial-intelligence/confide-unveils-agentic-governance-platform-replace-fragmented-grc

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