Here’s how Amsterdam fintech unicorn Adyen performed in H2 2023 (Silicon Canals)
Amsterdam-based fintech unicorn Adyen reported strong H2 2023 performance in its shareholder letter and financial statements. Despite challenging dynamics, the company achieved remarkable growth with a 23% YoY increase in net revenue, reaching €887M. Adyen’s focus on gradual team expansion led to an impressive 48% EBITDA margin. The company added 313 new team members, totaling 4,196 FTEs by year-end. Digital volume grew by 33%, demonstrating the effectiveness of Adyen’s commercial strategy. The Unified Commerce pillar grew steadily by 24%, overcoming industry slowdowns. Adyen’s platform traction and innovation contributed to a 19% growth in platforms in H2 2023. Read moreServiceNow Makes Strategic Investment in Leading Consulting & Implementation Partner Plat4mation
ServiceNow, in collaboration with Keensight Capital, makes its first European investment in Plat4mation, a global IT consultancy and ServiceNow partner. The strategic investment aims to accelerate customer time-to-value and drive growth in digital transformation, with a focus on Germany’s Mittelstand sector. Plat4mation will leverage its ServiceNow experience to expand in the Mittelstand, addressing challenges in digitization and AI adoption. The Mittelstand comprises 99% of Germany’s companies and is eager to transform businesses through technology. The investment includes the addition of over 400 ServiceNow-skilled individuals to support RiseUp with ServiceNow, a global skilling initiative. Read moreBrand New Day benefits from new pension law
Brand New Day, the online pension bank, experienced substantial growth in 2023, opening 70,000 new accounts and increasing the total to 300,000 (24% growth). Customer assets surged by 33%, reaching 6.4 billion euros. The growth is attributed to the new pension law, allowing self-employed individuals and those with pension deficits to contribute as much as employees with company pensions. Brand New Day notes a significant increase in deposits, with the expanded tax rules leading to a 51% rise in new assets deposited into pension investment accounts. The net profit for 2023 stood at 21.5 million euros, reinforcing the equity of banking activities. Read more

Maveric Systems Strengthens Board with Renowned Industry Leaders Anil Sachdev and N S Parthasarathy as Non-Executive, Independent Directors
Maveric Systems, a global BankTech specialist, has appointed Anil Sachdev and N S Parthasarathy as Non-Executive, Independent Directors to strengthen its growth strategy. The company aims to expand services in Customer Experience, Payments, Wealth Management, Regulatory, and new age AMS with hybrid cloud. The appointments align with Maveric’s focus on globalizing leadership and market expansion in the USA. Anil Sachdev brings expertise in talent management, while N S Parthasarathy, co-founder of Mindtree, offers extensive experience in technology and scaling businesses. Maveric Systems anticipates their contributions to drive success in an evolving banking and technology landscape. Read more

Mastercard joins U.S. AI Safety Institute Consortium to guide national AI standards
Mastercard has joined forces with the U.S. Department of Commerce to establish the U.S. AI Safety Institute Consortium (AISIC), a collaborative effort involving AI developers, researchers, and users, including Fortune 500 companies, academic teams, nonprofits, and government agencies. The goal of AISIC is to research and provide guidance on AI safety issues, laying the groundwork for future standards and policies. The consortium aims to facilitate collaboration between the Commerce Department’s National Institute of Standards and Technology and the broader AI safety community. Mastercard emphasizes the importance of establishing trustworthy AI standards to unlock the technology’s full potential and reinforce responsible AI practices. The company has also developed principles to uphold high standards of data and tech responsibility and is committed to sharing its experiences with partners, regulators, and policymakers through AISIC. Read more