Tag Archives: Adrian Cannon

News

Banking-as-a-Service provider Omnio raises €30 million for Pre-IPO Convertible Bond

  • OmniOne SA (“Omnio”) has successfully raised a €30 million Pre-IPO Convertible Bond in an oversubscribed round led by GrayBella Capital, which will allow it to accelerate the UK and international roll-out of its Banking-as-a-Service offering. Due to the high demand Omnio will keep the round open for selected additional investors for an increase of up to €5 million.
  • Omnio is aiming for a listing in the foreseeable future and is announcing the appointment of Jörgen Durban as Group Chairman.

Omnio, a leading innovator in Banking-as-a-Service, has closed a €30 million funding round led by pan-European venture fund GrayBella Capital. Omnio is a high-growth pre-IPO banking infrastructure leader based in London, England. Omnio will pursue its organic Pan-European growth strategy including selected acquisitions in its core markets.

Omnio offers a white-label, highly scalable service and is the secret ingredient that transforms retail banking. Omnio empowers smaller financial institutions, including credit unions and building societies to compete vigorously with their larger, tech-enabled rivals, and large brand driven corporations (non-banks) to deliver state-of-the art financial and loyalty products as part of their digital ecosystem. This is disrupting legacy retail banks and their infrastructure providers and transforming the way that consumers receive financial services. Omnio achieves this through excellence in true cloud-based, multi-tenant platform capability, with great client support and regulatory expertise.

Omnio currently serves 135 credit unions, with over 1.5 million members and multiple European banks with ambitions to attract millions of account holders over the next three years. Its non-regulated customer portfolio includes leading brand names in travel and retail sectors.

Omnio is working towards a listing in the near term and has appointed Jörgen Durban as Chairman of the Group to spearhead this effort. Jörgen has an excellent track-record of leading publicly listed companies in Scandinavia, as Chairman of Nordiska Kreditmarknadsaktiebolaget, DDM Holding AG and Haldex. Jörgen is a trained lawyer and was previously a partner at Linklaters.

Jörgen Durban: “I am very excited to join Omnio at this pivotal moment, as Omnio’s international roll-out and public listing plans propel it into a different league. With the company’s strong sales pipeline and an excellent product set, that has been adopted by some of the leading brands in retail and finance, the future is bright for exponential growth. I am proud to be supporting the company on its last mile to the IPO.”

Adrian Cannon, CEO of Omnio, continues, “The success of this funding round underpins Omnio’s ability to deliver its mission and puts it on a path to being a powerful force in the market. This investment allows Omnio to grow quickly towards its goals and is a key stepping-stone to a listing that will provide the resources needed to scale quickly across the whole of Europe.”

 

Digital Skills, News

Kesho undergoes complete rebrand as part of Omnio’s shake-up of its digital service for the credit union sector

Sercle represents a major evolutionary development of the legendary ‘Curtains’ platform

Following reporting by Business In the News last month that Omnio’s credit union business Kesho, had launched Vox Money, to widen accessibility financial products, today Kesho can announce the unveiling of Sercle – as part of delivering market leading digital infrastructure for credit unions worldwide.

Building on the legacy ‘Curtains’ platform, it offers a completely new digital roadmap, enabling credit unions and financial institutions to maximise and grow their loan portfolio in a secure digital way.

Credit union members will now have access to a range of financial products they were previously denied, and this digital advantage will empower the sector to grow and increase responsible lending to the communities they serve.

The Sercle digital portfolio gives credit unions advanced digital onboarding and instant loan decisions with a powerful and flexible product portfolio.

It offers a one stop solution through open API into the existing platform infrastructure, and into the brand-new Cloud platform that launches in 2021.

Sercle’s clients will have access to advanced tools such as: data analytics, to manage and report on their portfolios; open banking, to enable real time data from applicants to make fully informed lending decisions; fully integrated solutions from one platform to provide automated reconciliation, security, and regulatory reporting.

Members, lenders, and savers will have access through mobiles and online via desktop in real time, with informed risk-based decision tools accessing their accounts virtually and securely. New advanced technology will lead the way in providing secure environment to share documents and data between members and financial institutions.

The Sercle business is the leader in the credit union sector with more than 30 years’ experience and supporting around 1.5 million members, and part of the Omnio Group and currently processes a host of products across its platforms including: savings, loans, mortgages, banking, and current accounts.

Adrian Cannon, CEO of OMNIO commented: “Sercle offers a new chapter for credit unions. By supplying them with an enhanced range of financial technology products they can substantially improve their offering to existing and new members. Our new, easy to use and secure platforms and products, with the introduction of open API’s, now defines the “best in class” category in credit union technology and will significantly enhance the way credit unions are managed and introduce their members to a range of financial products previously beyond their reach.”

Lindsay Ward, Executive Director of Sercle commented: “Over the last 12 months, we have listened to our credit union client base, and worked closely with many of them to ensure that Sercle is the product they need this year, and for the next 30 years. Kesho “Curtains” is the most widely used Fintech platform in the UK, but with mobile technology and connectivity changing the way we live, it has been essential to upgrade our platform and deliver cloud technology to support credit unions everywhere.

“A working group has been established, so that we can fulfil the needs of clients and so that those with vulnerable members can be confident in the service. Meanwhile, positive customer feedback means that we already have plans for wider expansion into Ireland this year.

Ward continued: “As we focus on providing credit unions with market-leading digital infrastructure, we felt it was time to refresh the Kesho brand. Sercle brings it up to date and reflects its position as one of the most respected in the UK credit union and Fintech space. The launch of the Sercle App in Q1 2021 will not only provide these services to all our credit unions clients, but it will also enable our clients to deliver further services to their members providing instant loan decisions fully digital onboarding of new members. And a Hub to reach out and grow their membership base through communities.

“Kesho and the Curtains platform started as one man’s dream over 30 years ago, but now is the right time for a new approach. Sercle’s new style, look and feel is in line with our vision: to provide financial management and support fair and responsible lending to those in society who need it the most.”