International asset manager Robeco has launched a FinTech Equities fund to target listed FinTech companies.
The firm said it will invest in stocks of listed companies, which can benefit from the increasing digitisation of the financial sector, and is available to wholesale/retail investors. Robeco has launched the fund with €3m in seed capital.
Robeco Global FinTech Equities categorises FinTech companies into Today’s winners, which are companies that have competitive advantages thanks to fintech today, Fintech enablers, companies that facilitate the trend towards digitisation, and Challengers, companies that could be the winners in the future.
By investing across these three types of company, the investment firm claims to be diversified to withstand risk.
The fund, which is described as ‘benchmark agnostic’, will be managed by Patrick Lemmens and Jeroen van Oerle.
Lemmens said, “I strongly believe that digital finance will open the way to two billion people who currently don’t manage their financial affairs, and that online payment methods will become mainstream, while cash becomes the exception.
“With the launch of this fund, we enable investors to gain exposure to and profit from the trend of increasing digitization.”
Earlier this month, AXA Strategic Ventures closed its debut fund of funds vehicle on €150m ($175m), which will back ‘FinTech/InsurTech funds, as well as sector-agnostic VC funds globally’, according to AXA Strategic Ventures principal Dominic Maier.
The vehicle will look to make contributions between $5m to $15m, but some deals might be bigger or smaller than this figure. The company has an aim of around 15 funds to back.
Last month, ING launched ING Ventures with a €300m vehicle aimed at FinTech companies. The fund will invest in FinTech companies that have already gained traction in the market, primarily backing businesses.
Copyright © 2017 FinTech Global
![Temenos (SIX: TEMN) today announced that National Bank of Iraq (NBI), part of the Capital Bank Group, has successfully gone live with Temenos core banking and payments. NBI, which has 27 branches across Iraq, offers a comprehensive range of services to individuals and businesses in the country. Since 2005, NBI has been majority owned by Capital Bank, one of the top financial institutions operating in the Jordanian and regional markets, with assets of approximately JOD 7.6 billion[1]. With this implementation, NBI moved from its legacy systems onto the same core banking platform as other entities in the Capital Bank Group. This will enable NBI to operate more efficiently and integrate seamlessly with other systems to develop new products faster and deliver an improved customer experience. Capital Bank Group is a long-standing Temenos customer with other entities in the Group including Capital Bank of Jordan, Bank Audi, Société Générale Bank Jordan and NBI Saudi Arabia, already on the Temenos platform. NBI also becomes the first part of the group to adopt Temenos Payments, which enabled the bank to process more than 100,000 transactions of incoming and outgoing domestic and international payments in the first 15 days of operation, with a 99% straight-through processing rate. The migration to the Temenos platform for core banking and payments at NBI was completed in under 12 months thanks to Temenos’ pre-configured banking and payments capabilities and APIs which reduced the need for complex customizations, as well as close collaboration between Temenos, NBI, Capital Bank and delivery partner ITSS. This success was recently recognized in the IBS Intelligence Innovation Awards, with Capital Bank winning ‘Best Implementation of Core Banking Services'. The implementation at NBI follows several other successful transformation projects with Temenos for Capital Bank in the last few years, including the launch of NBI’s branch operations in Saudi Arabia in just 45 days, as well as the integration of Bank Audi and the former Jordanian operations of Société Générale, each of which was achieved in under four months. Collectively, these projects helped Capital Bank to increase operational efficiency by more than 50% within three years, bringing significant cost savings and an improved customer experience. With faster, more accurate processing and immediate service requests, the bank has maintained high customer retention rates and a reputation for service excellence. Izzidin Abusalameh, Chief Operations Officer, Capital Bank Group, commented: “This achievement marks a significant milestone in our digital transformation journey and positions us as a leading player in the banking industry. We have seamlessly transitioned the National Bank of Iraq to a cutting-edge core banking system which will not only enhance operational efficiency but also support providing our customers with a superior digital banking experience. Our continued partnership with Temenos has not only provided us with an advanced technological platform but has also facilitated a culture of flexibility and adaptability, enabling us to execute our ambitious growth plans.” Lee Allcorn, Managing Director, Middle East & Africa, Temenos, said: “Congratulations to National Bank of Iraq and the Capital Bank team on this successful implementation that gives NBI business agility and the same modern technology platform and ability to deploy fast with pre-configured banking capabilities as the rest of the group. With Temenos, Capital Bank Group is future-ready, and we are proud to support them as they continue to innovate and leverage our platform to grow sustainably and enhance the banking experience for customers.”](https://fintech.global/wp-content/uploads/2024/04/rupixen-Q59HmzK38eQ-unsplash-2-218x150.jpg "Flutterwave teams up with Acquired.com to streamline outward remittances in EU and UK")
