Lightspeed Commerce Inc | July 01, 2022
Lightspeed Commerce Inc., a Canadian provider of point-of-sale, e-commerce software, and commerce platforms for merchants to create, scale, and simplify exceptional customer experiences, announced the unveiling of their new Lightspeed Restaurant flagship POS and commerce platform at the National Restaurant Association (NRA) event in Chicago on May 21-24.
Terrace Bay Hotel owner, Jarred Drown, and food and beverage/front-of-house director Sam Barton, along with hospitality GM Peter Dougherty will appear on the NRA show mainstage to talk about the mounting problems with labor and food costs in the current market and how technology can help automate tasks and manage costs.
With fully integrated analytics, payments, inventory, and online ordering as well as streamlined user and workflow interfaces in the back-office and POS software, Lightspeed Restaurant provides the hospitality industry access to the power of cloud technology and thoughtful integrations. As a result, the chances of technology getting in the way of business are reduced.
At booth #6265 in the Tech Pavilion, Lightspeed will have an extensive range of hospitality commerce solutions on showcase, with industry professionals conducting live demonstrations of innovative features that assist in running restaurants in a smarter manner and streamlining operations, such as Automated Inventory, Order Anywhere, Lightspeed Payments, and more.
"After the unprecedented challenges the industry has faced over the past two years, Lightspeed is thrilled to return to McCormick Place to spend time with our customers and partners with a brand new commerce platform, We're ready to wow the industry with what Lightspeed Restaurant can do."
-Peter Dougherty Hospitality GM.
Finastra | July 01, 2022
Finastra today unveiled its embedded consumer lending solution, enabling access to traditional regulated lending options for consumers at point-of-sale (POS). Financial institutions, distributors and merchants will benefit from a platform that makes it easy for their customers to access lending options.
For end consumers, Finastra Embedded Consumer Lending aims to make the buying process as frictionless as possible, providing more options to consumers and an alternative to the Buy Now Pay Later approach, which is often not applicable to high value purchases. For merchants, the BaaS platform provides access to numerous lenders and their specific products. And for financial institutions, Finastra Embedded Consumer Lending provides access to a marketplace of distributors and merchants to distribute their banking products.
Jeannette Kescenovitz, Senior Director, Solution Management, Banking as a Service and Orchestration at Finastra said, "Finastra's Embedded Consumer Lending solution offers financial institutions a direct route to growth by offering loans via a merchant's digital point-of-sale. The solution builds connectivity and relationships between financial institutions and the distributor organizations that embed lending solutions at merchants' point-of-sale."
"Banking as a Service (BaaS) is a vital component of our growth strategy and embedding loans at the consumer point-of-sale opens a new channel to provide financing to customers we couldn't have reached before. This cost-effective solution delivers consumers a safer, regulated alternative when it comes to POS financing. As our trusted partner of many years, Finastra is the ideal orchestrator as we connect and scale on our embedded finance offering."
-Josh Williams, EVP, Chief Banking Officer at Seattle Ban.
Finastra's Embedded Consumer Lending exposes APIs on Finastra's FusionFabric.cloud open platform with which third-party distributors, like Loanstar Technologies, may integrate. Loanstar Technologies offers state of the art technology to connect lenders to borrowers, creating POS consumer loans through their merchant network in numerous verticals. Andrew Turner, CEO at Loanstar Technologies said, Working with Finastra will enable us to scale up significantly, providing access to hundreds of financial institutions, like Seattle Bank, across the US. As a trusted provider of mission-critical financial services software, Finastra will help us connect with the right bank providers to bring billions of dollars of new liquidity to fund POS loans with our merchant customers.
Integrated with Finastra's lending and origination core systems and hosted on Microsoft Azure, the solution enables financial institutions to process POS loan applications, including performing identity verification, decisioning, facilitating e-sign, as well as account creation and funding (through the bank's core banking system). Using APIs and event notification systems, third-party distributors can provide real-time feedback to merchants and consumers on loan status.
Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning solutions and services across Lending, Payments, Treasury & Capital Markets and Retail & Digital Banking for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by ~8,600 institutions, including 90 of the world's top 100 banks.
CLOUD BASED POS
Sionic | June 30, 2022
Sionic, a leading provider of omni-commerce, consumer-to-business payments solutions, today announced it has selected Google Cloud as the exclusive provider of cloud services for the nationwide rollout of its real-time, bank-to-bank digital payment service, enabling instant cash deposits from customers to merchants’ accounts at the point of sale.
After an eight-year run with Amazon Web Services (AWS) for the hosting of its mobile commerce platform, Sionic chose Google Cloud to underpin its ULink mobile, online, in-store and in-vehicle service experiences.
“We invested a lot of time with the Google Cloud team to thoroughly understand the value and benefits of Google Cloud over AWS, Having that level of interaction and support from knowledgeable, real human beings was a great first impression. Google Cloud’s focus on security, scalability, and sustainability mirrors our objectives as we bring current and future solutions to market. We have greatly decreased our infrastructure management needs and increased our development velocity by using Cloud Run, Cloud SQL and Big Query.”
-said Justin Turner, Director of Product for Sionic.
The payments industry is increasingly embracing the security and scalability that is offered by cloud technology, said Yolande Piazza, Vice President, Financial Services, Google Cloud. “We look forward to working with Sionic to enable its bank-to-bank digital payment service and enhance the payments experience for customers.
Erica Burris, VP Strategy and Product for Sionic, said, We are anticipating steady, month-over-month transaction volume growth as we connect our Pay-by-Bank service to existing card payment providers already processing billions of transactions annually.
Atlanta-based Sionic is leading The Great Reallocation in digital payments by delivering instant bank-to-bank transfers from consumers to merchants. Sionic's market first ULink™ is bringing real-time direct deposits to the point of sale via mobile, online, in store or in vehicle experiences. The company has partnered with top financial institution owners of The RTP Network for bank payments and CyberSource, a Visa solution, for secure card payment processing. Merchants accepting real-time payments bypass expensive card swipe fees and receive POS cash deposits immediately. Consumers may receive perks for paying with their bank accounts.