Airwallex and Panax to Transform Global Cash Management
Weekly news up to Tuesday, 29th of April 2025
👀 NEWS HIGHLIGHT
Panax, a leading AI-driven cash management platform, has partnered with Airwallex, a leading global payments and financial platform for growing businesses, to streamline global money movement.
Powered by Airwallex’s global financial infrastructure and payments capabilities, Panax customers can now directly execute cross-border payments and foreign exchange (FX) transactions within the Panax platform.
The partnership enables finance teams to gain full visibility and control over their cash while reducing operational complexity and enhancing liquidity management.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ Stablecoin payment system Next Generation secures $5 million in Seed funding.
⭐️ Argentex accepts IFX Payments £3 million offer for the company.
⭐️ FinTech Pliant banks $40M to build the future of corporate card infrastructure.
⭐️ European crypto firm RockawayX closes $125m fund.
Discover FinTech innovation across APAC. Stay informed with weekly updates—join now!
FINTECH
Euronext launches European Common Prospectus to boost IPO activity across the EU. This new prospectus, designed for use across all Euronext countries, complies with existing EU regulations and offers immediate benefits to issuers and investors.
REGTECH
Spanish start-up Acoru launches fraud detection platform. The Madrid-based firm says its offering leverages pre-fraud indicators to identify mule accounts, detect early fraud signals, and mitigate money laundering risks by "continuously monitoring and classifying account types over time".
DIGITAL BANKING
Zopa Bank doubles full-year profit to £34.2 million. Its success has allowed the bank to reinvest profits at scale, fuelling a flywheel of sustained growth and innovation. By offering even greater customer value combined with seamless experiences, it drove deeper customer engagement and increased product adoption.
Tandem posts 40% profit growth, underlining its status as the UK’s Greener Digital Bank. Tandem is now strongly positioned as one of the UK’s leading FinTechs, with award-winning savings products that offer consumers great rates designed to help homeowners and car buyers transition to a greener lifestyle.
Revolut introduces Karma, a points-based system that tracks staff behavior and impacts bonuses, creating a feedback loop to encourage good practices. Meanwhile, Irish users have deposited nearly €1 billion in savings, with Revolut’s loan book in Ireland growing 54% in 2024 compared to 2023.
Romanian users hold over EUR 1.2 billion in Revolut accounts, lending up 88%. Romanian users and businesses also hold large amounts of money in their Revolut accounts and have used the lending facility extensively relative to the previous year.
PARTNERSHIPS
Standard Chartered joins the Temenos partner programme. Through the integration, financial institutions on the Temenos platform will benefit from a faster go-to-market in accessing StanChart’s extensive currency offering, allowing them to price services across more than 130 currencies and 5,000 currency pairs while managing exposure risks to FX market volatility.
WooCommerce partners with Affirm to expand BNPL checkout payment options. With the move, UK-based merchants using the WooCommerce platform will be able to integrate Affirm and offer their customers a wider range of customisable payment options at checkout.
RiseUp partners with Yapily to bridge the gap between financial insights and payments, offering financial institutions and their customers a powerful tool to achieve their financial goals. RiseUp’s partners can now turn these strategies into impact in the form of payments.
PayPoint partners with Uber and Deliveroo to expand digital voucher services for retailers. The new partnerships allow retail partners to maximise opportunities for spontaneous purchases, attracting new customers and offering new gifting options with a wider range of digital gift card services.
MOVERS & SHAKERS
Mastercard appoints Kelly Devine as President, Europe. Devine will report to Ling Hai, President, APEMEA, and will join Mastercard’s Management Committee, effective 1 September 2025. She will be based in the company’s European Headquarters in Waterloo, Belgium.
Worldline makes senior hires. The company welcomes three new leaders: Candice Dillon, Joachim Goyvaerts, and Tim Minall. With their exceptional leadership expertise, the fresh energy, and the cultural diversity they bring, the company is raising the bar to make Worldline robust, efficient, and offensive in supporting merchants and financial institutions in addressing their payment needs with the best possible customer experience.