Intelligent Issue 25 | Page 9



Finastra and Visa announce global BaaS offering integrating Visa Direct
Gartner reveals top technology priorities for midsize businesses
Security and risk management , application and integration strategies , and infrastructure and operations are the top three technology priorities for midsize enterprises ( MSEs ) in 2022 , according to a recent Gartner survey .
and cloud ecosystems complicates the selection of new tools , requiring MSE technology leaders to rapidly operationalise investments to deliver time to value .”
Finastra and Visa have announced a Banking-as-a- Service ( BaaS ) collaboration to co-develop new functionality on its Payments Hub solutions and implement Visa Direct – which provides access to more than two billion accounts through the push to account offerings .
The new capability will give Finastra ’ s bank customers around the world access to cross-border payout capabilities for small- and medium-sized businesses , and individuals , in multiple currencies and countries .
“ This BaaS partnership will allow banks to offer their customers greater choice in how to route cross-border payments , with banks essentially embedding Visa products ,” said Barry Rodrigues , EVP Payments Business Unit at Finastra .
“ We are excited to partner on this proposition with Visa as it provides a very attractive solution for banks seeking to help increase overall customer satisfaction and loyalty through a transparent and cost-effective digital payments option .”
“ MSEs are shifting investments and even increasing budgets to fund their top technology priorities ,” said Mike Cisek , VP Analyst at Gartner . “ However , the accelerated rate of change in security , infrastructure , applications
The Gartner survey was conducted from March through April 2022 among 134 MSE CIOs and IT leaders . Respondents were asked to identify current active IT projects , which correlated with their top technology priorities .
UK tech scaleups receive record H1 investment in 2022
Tech Nation has announced that 35 midstage scaling tech companies that have been accepted into Upscale 8.0 – the
eighth iteration of the Upscale programme , which supports the UK ’ s fastest-growing mid-stage ( Series A ) tech companies to overcome common growth challenges and scale faster .
This is a critical time in every scaleup ’ s journey , as around 60 % of companies that raise Pre-Series A funding fail to make it to Series A or beyond .
The success of these 35 companies – which have an average growth rate of 250 % – reflects the strength of the midsized market overall , which is growing faster than ever across the board .
Data from Tech Nation and Dealroom has revealed that mid-stage scaling tech companies ( at Series A ) have raised US $ 5.1 billion in 2022 ( January – August ) so far already – an all-time record for H1 .
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