Fintech News Canada: Prodigy  as well as FinConecta  collaborate to accelerate the  circulation of Fintech services in Canada

Fintech News Canada: Prodigy  and also FinConecta  collaborate to accelerate the  circulation of Fintech  solutions in Canada, the United States  and also  all over the world

Prodigy Ventures Inc. (TSXV: PGV) ( Prodigy or the  Firm) today announced it  has actually  authorized a  brand-new  Partnership  Contract with FinConecta (AANDB  Technology, Inc.), a  international  modern technology  firm dedicated to accelerating digitization of  money and open banking.

Under the terms of the agreement Prodigy will  supply consulting, integration  and also managed  solutions to  allow the  quick  implementation of FinConecta‘s  advanced API (Application Programing  User interface) based  system.  With each other, Prodigy and FinConecta  will certainly work to  speed up digital transformation  and also  Open up  Financial,  promoting new  usage  instances and business opportunities for all  present  as well as future players in the  monetary  sector.

 Our  objective at Prodigy is to  supply Fintech innovation, said Tom Beckerman, Prodigy‘s Chairman  as well as  Chief Executive Officer. We are  delighted to partner with FinConecta,  and also leverage their world-leading  system.  We understand that there is  wonderful demand at our financial institutions and leading enterprises to deliver  ingenious Fintech  remedies to their customers. This Alliance is purpose  developed to deliver  on that particular promise.

Jorge Ruiz, FinConecta‘s  Creator  as well as CEO commented, Our best-of-breed  system,  incorporated with Prodigy‘s  tested record of  fast  technology and service  distribution to  huge financial institutions and  business, will be a breakthrough in the Fintech  room. Together, our  Partnership will deliver  straightforward, fast,  effective  and also scalable  options that transform  monetary services  and also ecommerce.

Prodigy  and also FinConecta‘s Alliance  will certainly  make it possible for  banks to accelerate their journey  in the direction of testing  remedies  as well as running  evidence of  ideas to  generating income from APIs  as well as  introducing new offerings  quicker. FinConecta‘s middleware also  supplies a  magazine of curated Fintech  business that provide digital  solutions to financial institutions on a SaaS  version and the ability to  gain access to multiple  options  with a  solitary  combination, 10 times faster.

For Fintechs already operating in Canada  and also the United States of America or  happy to do so, this Alliance offers  worldwide exposure to  prospective clients, a comprehensive sandbox to test  items, and a single  assimilation  with  stabilized APIs, giving them access to core banking systems without  needing to integrate with them  independently.

 Regarding Prodigy Ventures Inc – Fintech News Canada

. Prodigy delivers Fintech  technology. The  Business  gives leading edge  systems, including IDVerifact  for  electronic identity,  as well as  brand-new Fintech platforms for open  financial  as well as payments. Our services business, Prodigy Labs , integrates  and also customizes our platforms for  one-of-a-kind enterprise customer  needs,  and also  gives  innovation services for  electronic  identification, payments, open banking  as well as digital  makeover. Digital transformation services  consist of  approach, architecture,  style,  job management,  dexterous  advancement,  top quality  design  as well as staff  enhancement. Prodigy  has actually been recognized as one of Canada‘s fastest growing companies with  numerous awards: Deloitte‘s Fast 50 Canada  and also  Rapid 500  The United States And Canada (2016, 2017, 2018), Branham 300 (2017, 2018), Growth  Listing (2018, 2019 and 2020), Canada‘s  Leading Growing  Firms (2019 and 2020).

 Concerning FinConecta 

– Fintech News Canada

FinConecta is a global  innovation  business dedicated to accelerating digitization of finance  and also open banking. Founded in 2016, headquartered in Miami, and with  procedures in  numerous countries around the world, FinConecta is a FDX Member  as well as AWS Advanced Partner.  Find out more at Fintech News Canada.


Fintech news around the earth

Fintech news around the  world


Fintech News Philippines

Earlier  today, Philippines-based Netbank, a  financial as a  solution (BaaS) platform, went  stay in the Southeast  Oriental  nation.

Netbank has  apparently been  created by an  skilled team of  worldwide and local banking  specialists. Like the country‘s digital bank Tonik, Netbank is a  totally regulated  financial  establishment that  will certainly be operating under a rural banking permit.

The Netbank platform is currently in operation. The  financial institution is  scheduling  financings that are originated by  3  various  alternate  lending institutions. It  has actually  likewise  executed the infrastructure  needed to  provide a comprehensive  series of banking  remedies,  utilizing Amazon  Internet  Solutions (AWS) to operate its core banking system.

Netbank  states that it  intends to  use  straightforward,  imaginative,  budget-friendly  solutions  to make sure that Fintechs in the Philippines are able to  conveniently open new accounts,  offer  fundings and take care of their  repayments.

Netbank  validated that it will introducing a  large range of  devices for  conformity, fraud management, API  solutions,  as well as other  economic applications.

Netbank added that they are a member of PesoNet and Instapay. The bank  additionally  kept in mind that the support  provided by Bangko Sentral ng Pilipinas (BSP), the  country‘s central bank, has been quite  handy,  specifically when officially  releasing its neobanking  system.

Fintech News Canada

Canadian fintech  firm Ratehub Inc.  has actually  introduced a property/casualty (P/C)  broker agent called RH Insurance.

Toronto-based Ratehub, which operates the financial  item comparison  website,  claimed the launch brings the  business one step  better towards  attaining its goal of being Canada‘s  best source for  electronic personal  money products  throughout  insurance policy,  home loans,  bank card,  spending  and also banking products.

Fintech News Malaysia

The Fintech Association of Malaysia (FAOM), a  crucial enabler  as well as national platform for the facilitation of Malaysia‘s journey to  coming to be a leading hub for Financial  Innovation (Fintech) innovation  as well as investment in the region  organized its fourth  Yearly Grand  Fulfilling (AGM) which was held  practically on 30 April 2021.
The AGM was attended by its  outbound committee members from the 2019/2020 term and  reps from  well-regarded  participant organisations. The AGM was  assembled with the purpose of  examining the  progression  attained by the Association  so far, the Covid-19 related  obstacles  dealt with by the  market, strategising the way  onward for the further  advancement of Malaysia‘s fintech  market  as well as most  notably, announcing the new line-up of  board members who  will certainly be helming FAOM for the 2020/2021 term.

Fintech News Australia

Australia‘s fintech startup, mx51  revealed that the  firm  has actually secured $25 million in the Series A  financing round to  increase its expansion.

According to an official  news, the  current  financing round was led by Acorn  Funding, Artesian, Commencer  Resources  as well as Mastercard.  Furthermore, the  business is  preparing to introduce new  functions to  take on other payment  systems in the  nation.

Fintech News Switzerland

Switzerland-based Fintech firm neon has  protected 7 million CHF (appr. $7.78 million) from existing  financiers  and also  has actually also launched a crowdfunding round for  customers.

The neon team notes:

  Too much  costs, inflexible opening times, too much bureaucracy  and also  complex apps. To us, it was clear: it  can not  take place like that. That‘s why we  constructed neon. neon is your  deal account for your  day-to-day finances. No base fees,  cost-free Mastercard. Super  easy. All on your  mobile phone. 100% independent.

 Financiers in neon‘s investment round  apparently include the TX  Team, BackBone Ventures, QoQa Services SA, the Helvetia  Endeavor Fund, the Schwyzer Kantonalbank‘s  technology foundation, as well as private  financiers.

With 70,000 clients currently on board, neon is  presenting equity crowdinvesting with tokenized non-voting shares which will reportedly be kept in a personal  pocketbook. The Swiss digital asset  system Sygnum Bank is serving as the tokenization partner. As  formerly reported, Sygnum  Financial institution, a  qualified crypto-asset bank,  has actually been founded on Swiss  as well as Singapore heritage and operates  internationally.

Fintech News UK

Financial  modern technology  company Wise said Tuesday that  individuals in India would  currently be able to  send out  cash abroad to 44  nations around the world.

That  consists of  areas like Singapore, the U.K., the  USA, the United Arab Emirates  in addition to  nations in the euro  area.

India‘s  external  compensations in the   2019-2020 was  about $18.75 billion, with  greater than 60% of it categorized under  traveling  as well as  spending for  researching abroad, according to data from the Reserve Bank of India. Under a liberalized remittance scheme, the  reserve bank  enables  citizens to  easily send up to $250,000 abroad to fund personal expenses or  education and learning per  fiscal year which begins in April  and also  finishes in March the  list below year.

Fintech News in India

Jai Kisan, an Indian  start-up that is  trying to bring  monetary  solutions to rural India, where commercial  financial institutions have a single-digit  infiltration, said on Monday it  has actually raised $30 million in a new financing round as it  aims to scale its  organization.

 Numerous millions of people in India today  stay in  backwoods.  A lot of them don’t have a credit score. The  occupations they work on  mainly farming aren’t considered a business by  the majority of lenders in India. These farmers  and also other professionals also don’t have a documented credit history, which  places them in a risky  classification for banks to grant them a  car loan.

Fintech News Singapore

Switzerland-based Fintech firm neon  has actually  protected 7 million CHF (appr. $7.78 million) from existing  capitalists  and also  has actually also  introduced a crowdfunding round for clients.

The neon team notes:

  Too much  costs,  stringent opening times,  excessive bureaucracy  and also  challenging  applications. To us, it was clear: it can’t  take place like that. That‘s why we  developed neon. neon is your  purchase  make up your everyday  funds. No base  charges, free Mastercard. Super  straightforward. All on your  mobile phone. 100% independent.

 Financiers in neon‘s investment round  apparently  consist of the TX Group, BackBone Ventures, QoQa  Solutions SA, the Helvetia Venture Fund, the Schwyzer Kantonalbank‘s  technology foundation, as well as  personal investors.

With 70,000  customers currently  aboard, neon is introducing equity crowdinvesting with tokenized non-voting shares which will  apparently be kept in a personal  pocketbook. The Swiss  electronic  property  system Sygnum  Financial institution is serving as the tokenization partner. As  formerly reported, Sygnum  Financial institution, a  qualified crypto-asset  financial institution, has been founded on Swiss and Singapore heritage  as well as operates  around the world.


Fintech News  – UK must have a fintech taskforce to safeguard £11bn business, says article by Ron Kalifa

Fintech News  – UK needs a fintech taskforce to protect £11bn industry, says article by Ron Kalifa

The federal government has been urged to build a high profile taskforce to guide development in financial technology together with the UK’s growth plans after Brexit.

The body, which might be known as the Digital Economy Taskforce, would draw in concert senior figures coming from throughout regulators and government to co-ordinate policy and take off blockages.

The recommendation is a component of an article by Ron Kalifa, former employer on the payments processor Worldpay, who was made with the Treasury in July to formulate ways to create the UK one of the world’s leading fintech centres.

“Fintech isn’t a market within financial services,” alleges the review’s author Ron Kalifa OBE.

Kalifa’s Fintech Review finally published: Here are the 5 key results Image source: Ron Kalifa OBE/Bank of England.

For weeks rumours happen to be swirling regarding what might be in the long awaited Kalifa assessment into the fintech sector and also, for the most part, it appears that most were area on.

According to FintechZoom, the report’s publication arrives almost a season to the day time that Rishi Sunak first promised the review in his first budget as Chancellor of this Exchequer in May last season.

Ron Kalifa OBE, a non-executive director belonging to the Court of Directors at the Bank of England and the vice chairman of WorldPay, was selected by Sunak to head up the significant dive into fintech.

Here are the reports five important recommendations to the Government:

Regulation and policy

In a move that must be music to fintech’s ears, Kalifa has suggested developing and adopting common data standards, meaning that incumbent banks’ slower legacy systems just simply will not be enough to get by any longer.

Kalifa in addition has recommended prioritising Smart Data, with a specific focus on receptive banking and opening up a great deal more routes of interaction between bigger financial institutions and open banking-friendly fintechs.

Open Finance even gets a shout out in the report, with Kalifa informing the federal government that the adoption of available banking with the goal of achieving open finance is actually of paramount importance.

As a direct result of their growing popularity, Kalifa has also recommended tighter regulation for cryptocurrencies as well as he has also solidified the determination to meeting ESG goals.

The report suggests the creating associated with a fintech task force as well as the improvement of the “technical understanding of fintechs’ business models and markets” will help fintech flourish in the UK – Fintech News .

Watching the achievements belonging to the FCA’ regulatory sandbox, Kalifa has additionally proposed a’ scalebox’ that will help fintech companies to develop and expand their businesses without the fear of choosing to be on the bad aspect of the regulator.


So as to get the UK workforce up to date with fintech, Kalifa has suggested retraining workers to satisfy the growing requirements of the fintech segment, proposing a series of inexpensive education classes to do so.

Another rumoured addition to have been included in the article is actually an innovative visa route to ensure top tech talent is not put off by Brexit, assuring the UK remains a leading international competitor.

Kalifa suggests a’ Fintech Scaleup Stream’ which will give those with the needed skills automatic visa qualification and also offer assistance for the fintechs hiring high tech talent abroad.


As earlier suspected, Kalifa suggests the governing administration create a £1bn Fintech Growth Fund to help homegrown firms scale and grow.

The report implies that this UK’s pension pots might be a fantastic source for fintech’s financial support, with Kalifa pointing out the £6 trillion now sat in private pension schemes inside the UK.

Based on the report, a small slice of this particular container of cash may be “diverted to high advancement technology opportunities as fintech.”

Kalifa in addition has recommended expanding R&D tax credits because of the popularity of theirs, with ninety seven per cent of founders having used tax incentivised investment schemes.

Despite the UK acting as home to several of the world’s most effective fintechs, very few have chosen to list on the London Stock Exchange, for truth, the LSE has noticed a forty five per cent reduction in the number of companies that are listed on its platform after 1997. The Kalifa review sets out steps to change that and also makes some suggestions that seem to pre-empt the upcoming Treasury backed review straight into listings led by Lord Hill.

The Kalifa article reads: “IPOs are actually thriving globally, driven in portion by tech companies that will have become indispensable to both customers and businesses in search of digital tools amid the coronavirus pandemic and it is important that the UK seizes this opportunity.”

Under the recommendations laid out in the review, free float needs will be reduced, meaning businesses don’t have to issue at least twenty five per cent of the shares to the general public at every one time, rather they will simply have to provide 10 per cent.

The examination also suggests implementing dual share constructs that are much more favourable to entrepreneurs, meaning they are going to be in a position to maintain control in the companies of theirs.


to be able to make certain the UK continues to be a leading international fintech desired destination, the Kalifa review has suggested revising the current Fintech News  –  “Fintech International Action Plan.”

The review suggests launching an international fintech portal, including a specific overview of the UK fintech arena, contact info for local regulators, case research studies of previous success stories as well as details about the help and support and grants available to international companies.

Kalifa even hints that the UK really needs to build stronger trade interactions with before untapped markets, focusing on Blockchain, regtech, payments & open banking and remittances.

National Connectivity

Another powerful rumour to be confirmed is Kalifa’s recommendation to write 10 fintech’ Clusters’, or regional hubs, to ensure local fintechs are provided the support to develop and expand.

Unsurprisingly, London is actually the only super hub on the summary, which means Kalifa categorises it as a worldwide leader in fintech.

After London, there are 3 large as well as established clusters in which Kalifa recommends hubs are established, the Pennines (Leeds and Manchester), Scotland, with particular reference to the Edinburgh/Glasgow corridor, as well as Birmingham – Fintech News .

While other areas of the UK have been categorised as emerging or specialist clusters, like Bath and Bristol, Durham and Newcastle, Cambridge, Reading and West of London, Wales (especially Cardiff and South Wales) Northern Ireland.

The Kalifa review indicates nurturing the top 10 regions, making an attempt to concentrate on their specialities, while also enhancing the channels of interaction between the other hubs.

Fintech News  – UK must have a fintech taskforce to protect £11bn industry, says report by Ron Kalifa