Today in B2B payments, Virgin Money taps Codat to boost business banking offerings, while TAP Financial launches a supply chain finance unit. Plus, Enigma collaborates on business financial data analytics, Vision33 strikes an accounting acquisition and U.S. watchdogs probe pandemic lending program.
Virgin Money Teams With Codat For Business Banking Technology
As it shores up its online corporate banking qualifications, Virgin Money has brought U.K. FinTech Codat onto its roster of partners. The technology of the latter company will have an important position in enabling the communication of information among Virgin Money and its corporate bank clients, according to a Monday (Feb. 1) announcement. The deal is the newest partnership from Virgin Money as it keeps building out its working capital wellness offering, which comprises part of its commitment connected to a recent 35 million pound (approximately $47.84 million) Banking Competition Remedies (BCR) Capability and Innovation Fund award, the announcement stated.
TAP Financial Forms Subsidiary For Supply Chain Funding
To help customers with supply chain funding and order growth, British boutique merchant bank TAP Financial Partners has created a subsidiary called TAP Fulfillment LLC, according to a Monday (Feb. 1) announcement. TAP Financial Partners Managing Partner Bill Fickling said a number of the company’s customers are geared toward building out their businesses. Fickling noted that “this opportunity presented itself” for one customer, and the company soon determined that the service was desired throughout its network of small companies.
Enigma Teams With Verisk Financial On Financial Health Insights
Data science company Enigma Technologies has debuted a strategic collaboration with Verisk Financial, which will help to boost insights into companies’ financial health, Enigma announced in a Monday (Feb. 1) press release. Enigma Technologies collects and analyzes data on the health and identity of all U.S. businesses. Enigma, as a part of the collaboration, is joining up with a number of banks, payment processors and financial institutions to provide trustworthy intelligence regarding a business’s financial health.
Vision33 Buys iDocuments Suite For Accounting Automation Possibilities
Vision33 has acquired the iDocuments product suite from U.K. company Syrantix, Vision33 announced in a Monday (Feb. 1) press release, saying the acquisition will provide the company with access to new automation options and better visibility for B2B processes, among other benefits. The iDocuments platform integrates with all leading ERP and accounting systems, including SAP Business One, Sage, Infor SunSystems, Exchequer and Microsoft Dynamics, the release says.
Inspector General Wants Answers From Mnuchin, Cruz On Pandemic Lending Program
Former Treasury Secretary Steven Mnuchin and Texas Sen. Ted Cruz are the subjects of a pair of watchdog investigations, Bloomberg reported. Mnuchin is under investigation over his decision to roll back the U.S. Federal Reserve’s emergency lending programs late last year, according to Bloomberg. Democrats have said that decision was politically motivated. Meanwhile, Cruz faces scrutiny over his persuasion of the Fed to broaden emergency lending rules to help oil and gas companies have an easier time applying for low interest rate loans, Bloomberg reported.
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