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

Fintech News Canada: Prodigy and FinConecta  collaborate to accelerate the distribution of Fintech  solutions in Canada, the  USA and around the world

Prodigy Ventures Inc. (TSXV: PGV) ( Prodigy or the Company) today  introduced it  has actually signed a new Alliance  Arrangement with FinConecta (AANDB Tech, Inc.), a global  innovation  firm dedicated to  speeding up digitization of  money  as well as open banking.

Under the terms of the  contract Prodigy will  give consulting, integration  as well as managed  solutions to  make it possible for the  fast  release of FinConecta‘s  advanced API (Application Programing Interface) based  system. Together, Prodigy and FinConecta will  function to accelerate digital  improvement and Open  Financial,  helping with new use  situations  and also  company  chances for all  existing  and also future players in the financial  sector.

 Our  objective at Prodigy is to deliver Fintech  advancement,  stated Tom Beckerman, Prodigy‘s Chairman  and also CEO. We are  thrilled to partner with FinConecta,  as well as leverage their world-leading  system.  We understand that there is  terrific demand at our financial institutions  and also leading  ventures to  provide  ingenious Fintech solutions to their  consumers. This Alliance is  function  developed to  provide on that  pledge.

Jorge Ruiz, FinConecta‘s Founder  as well as  Chief Executive Officer commented, Our best-of-breed  system,  incorporated with Prodigy‘s  tested  document of rapid innovation  as well as  solution delivery to  big  banks  and also enterprises, will be a breakthrough in the Fintech  area.  With each other, our Alliance  will certainly deliver  basic, fast,  effective  and also scalable solutions that  change  monetary services  as well as ecommerce.

Prodigy  as well as FinConecta‘s Alliance will enable  banks to accelerate their  trip  in the direction of testing  options and running proof of  principles to  generating income from APIs  as well as  introducing  brand-new offerings  quicker. FinConecta‘s middleware also  provides a catalog of curated Fintech  business that provide digital  solutions to  banks on a SaaS model  and also the ability to access  several  services  via a  solitary  assimilation, 10 times faster.

For Fintechs  currently  running in Canada and the United States of America or willing to do so, this Alliance  provides  worldwide exposure to  prospective  customers, a comprehensive sandbox to  examination products,  as well as a single  combination through  stabilized APIs,  providing access to core banking systems without having to  incorporate with them  separately.

About Prodigy Ventures Inc – Fintech News Canada

. Prodigy  supplies Fintech  advancement. The  Firm  supplies leading edge platforms, including IDVerifact  for  electronic  identification,  as well as  brand-new Fintech platforms for open banking  and also  repayments. Our  solutions business, Prodigy Labs ,  incorporates and customizes our platforms for  one-of-a-kind enterprise  consumer requirements,  and also  offers  innovation services for digital identity,  repayments, open banking and digital transformation. Digital transformation services include  technique,  style, design,  job  monitoring, agile  advancement,  top quality engineering  as well as  team augmentation. Prodigy has been  identified as one of Canada‘s fastest growing  business with  numerous  honors: Deloitte‘s  Quick 50 Canada  and also  Quick 500  The United States And Canada (2016, 2017, 2018), Branham 300 (2017, 2018),  Development  Checklist (2018, 2019 and 2020), Canada‘s Top Growing Companies (2019  as well as 2020).

About FinConecta 

– Fintech News Canada

FinConecta is a global technology company  committed to accelerating digitization of  money and open  financial. Founded in 2016, headquartered in Miami,  as well as with  procedures in multiple  nations  around the globe, FinConecta is a FDX  Participant  as well as AWS Advanced  Companion.  Discover more at Fintech News Canada.


Fintech news around the globe

Fintech news around the globe


Fintech News Philippines

Earlier this week, Philippines-based Netbank, a  financial as a service (BaaS)  system, went live in the Southeast  Oriental  nation.

Netbank  has actually reportedly been  established by an experienced team of  worldwide  and also  regional banking professionals. Like the country‘s digital  financial institution Tonik, Netbank is a fully  managed banking institution that will be  running under a rural banking permit.

The Netbank  system is  presently in operation. The  financial institution is booking  car loans that are  come from by  3 different  alternate  loan providers. It  has actually also implemented the  facilities  called for to  supply a comprehensive  series of  financial  services,  utilizing  Internet  Solutions (AWS) to operate its core  financial system.

Netbank  claims that it aims to offer  straightforward, creative,  budget-friendly services  to make sure that Fintechs in the Philippines  have the ability to  conveniently  open up  brand-new accounts,  offer  financings  as well as  look after their  repayments.

Netbank  verified that it  will certainly introducing a wide range of tools for compliance, fraud  monitoring, API services, and other  economic applications.

Netbank  included that they  belong to PesoNet and Instapay. The  financial institution  likewise  kept in mind that the support offered by Bangko Sentral ng Pilipinas (BSP), the  country‘s  reserve bank, has been quite  practical, especially when officially launching its neobanking platform.

Fintech News Canada

Canadian fintech company Ratehub Inc. has  introduced a property/casualty (P/C)  brokerage firm called RH  Insurance coverage.

Toronto-based Ratehub, which operates the financial  item  contrast site,  claimed the launch brings the  firm one step closer towards  attaining its goal of being Canada‘s  best source for  electronic personal finance products  throughout  insurance coverage,  home loans, credit cards,  spending and banking  items.

Fintech News Malaysia

The Fintech  Organization of Malaysia (FAOM), a key enabler and national platform for the facilitation of Malaysia‘s  trip to becoming a leading  center for Financial  Innovation (Fintech)  technology  as well as  financial investment in the  area  held its fourth Annual Grand  Fulfilling (AGM) which was held  essentially on 30 April 2021.
The AGM was  participated in by its outgoing committee  participants from the 2019/2020 term  as well as representatives from  renowned  participant organisations. The AGM was  assembled with the purpose of reviewing the  progression  attained by the Association thus far, the Covid-19  relevant challenges  dealt with by the  market, strategising the  method forward for the  more development of Malaysia‘s fintech  sector  as well as most  notably, announcing the new line-up of committee members who  will certainly be helming FAOM for the 2020/2021 term.

Fintech News Australia

Australia‘s fintech startup, mx51  introduced that the company has secured $25 million in the Series A funding round to accelerate its expansion.

According to an  main  news, the  current funding round was led by Acorn Capital, Artesian, Commencer  Resources  as well as Mastercard.  On top of that, the company is planning to introduce  brand-new  attributes to  take on other  repayment platforms in the  nation.

Fintech News Switzerland

Switzerland-based Fintech firm neon  has actually secured 7 million CHF (appr. $7.78 million) from existing investors and has  additionally  introduced a crowdfunding round for  customers.

The neon team notes:

 Excessive  costs,  stringent opening times,  excessive bureaucracy  as well as  difficult apps. To us, it was clear: it can’t go on like that. That‘s why we  developed neon. neon is your  purchase  represent your everyday  funds. No base  charges,  cost-free Mastercard. Super  easy. All on your smartphone. 100% independent.

 Financiers in neon‘s  financial investment round  supposedly include the TX  Team, BackBone Ventures, QoQa  Providers SA, the Helvetia Venture Fund, the Schwyzer Kantonalbank‘s  development foundation,  along with  exclusive  capitalists.

With 70,000 clients currently on board, neon is  presenting equity crowdinvesting with tokenized non-voting shares which will reportedly be kept in a  individual  budget. The Swiss digital  possession  system Sygnum  Financial institution is serving as the tokenization partner. As previously reported, Sygnum  Financial institution, a  certified crypto-asset bank, has been founded on Swiss  and also Singapore heritage  and also  runs globally.

Fintech News UK

Financial  modern technology firm Wise  claimed Tuesday that users in India would  currently  have the ability to send  cash abroad to 44  nations around the world.

That  consists of  areas like Singapore, the U.K., the  USA, the United Arab Emirates as well as  nations in the euro zone.

India‘s  external remittances in the fiscal year 2019-2020 was  about $18.75 billion, with  greater than 60% of it categorized under travel  as well as  spending for  examining abroad, according to  information from the Reserve Bank of India. Under a liberalized  compensation scheme, the  reserve bank  enables  homeowners to freely send up to $250,000 abroad to fund personal  costs or  education and learning per financial year which begins in April and ends in March the following year.

Fintech News in India

Jai Kisan, an Indian  start-up that is  trying to bring financial services to rural India, where commercial banks have a single-digit  infiltration,  claimed on Monday it  has actually raised $30 million in a new financing round as it looks to scale its  company.

 Numerous  numerous  individuals in India today live in  backwoods.  The majority of them  do not have a  credit report. The professions they  work with  greatly farming aren’t  taken into consideration a business by  many  loan providers in India. These farmers  and also  various other  experts  likewise  do not  have actually a documented  credit rating, which puts them in a  dangerous category for  financial institutions to  give them a  car loan.

Fintech News Singapore

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

The neon team notes:

  Extreme  charges,  stringent opening times,  excessive  administration  and also  challenging  applications. To us, it was clear: it  can not go on like that. That‘s why we  constructed neon. neon is your  deal account for your  daily finances. No base fees, free Mastercard. Super simple. All on your  mobile phone. 100% independent.

 Financiers in neon‘s investment round  apparently  consist of the TX Group,  Foundation Ventures, QoQa Services SA, the Helvetia  Endeavor Fund, the Schwyzer Kantonalbank‘s  technology foundation,  along with  personal investors.

With 70,000  customers  presently on board, neon is introducing equity crowdinvesting with tokenized non-voting shares which will  apparently be kept in a  individual  pocketbook. The Swiss  electronic asset  system Sygnum  Financial institution is serving as the tokenization partner. As previously reported, Sygnum  Financial institution, a licensed crypto-asset  financial institution, has been founded on Swiss  and also Singapore heritage and operates  internationally.


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

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

The government has been urged to establish a high profile taskforce to guide innovation in financial technology together with the UK’s progress plans after Brexit.

The body, which may be called the Digital Economy Taskforce, would draw together senior figures as a result of throughout regulators and government to co-ordinate policy and remove blockages.

The suggestion is a part of an article by Ron Kalifa, former boss on the payments processor Worldpay, who was asked by way of the Treasury found July to think of ways to make the UK one of the world’s reputable fintech centres.

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

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

For weeks rumours have been swirling about what could be in the long-awaited Kalifa review into the fintech sector as well as, for probably the most part, it seems that most were position on.

According to FintechZoom, the report’s publication arrives nearly a season to the morning that Rishi Sunak initially said the review in his first budget as Chancellor of this Exchequer found May last season.

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

Here are the reports 5 key tips to the Government:

Regulation and policy

In a move that has got to be music to fintech’s ears, Kalifa has suggested developing as well as adopting common data standards, meaning that incumbent banks’ slow legacy systems just simply won’t be sufficient to get by any longer.

Kalifa has additionally suggested prioritising Smart Data, with a certain target on open banking as well as opening upwards more routes of correspondence between bigger financial institutions and open banking-friendly fintechs.

Open Finance even gets a shout-out in the report, with Kalifa revealing to the authorities that the adoption of open banking with the aim of reaching open finance is actually of paramount importance.

As a direct result of their growing popularity, Kalifa has additionally recommended tighter regulation for cryptocurrencies and also he has also solidified the dedication to meeting ESG objectives.

The report suggests the construction of a fintech task force and the improvement of the “technical awareness of fintechs’ business models and markets” will help fintech flourish with the UK – Fintech News .

Watching the achievements of the FCA’ regulatory sandbox, Kalifa has additionally suggested a’ scalebox’ which will aid fintech businesses to develop and expand their operations without the fear of getting on the wrong aspect of the regulator.


So as to deliver the UK workforce up to speed with fintech, Kalifa has suggested retraining employees to satisfy the increasing needs of the fintech sector, proposing a series of inexpensive training classes to do so.

Another rumoured add-on to have been included in the report is actually a new visa route to ensure top tech talent isn’t place off by Brexit, ensuring the UK is still a leading international competitor.

Kalifa suggests a’ Fintech Scaleup Stream’ which will supply those with the required skills automatic visa qualification and also offer support for the fintechs choosing high tech talent abroad.


As previously suspected, Kalifa implies the governing administration create a £1bn Fintech Growth Fund to help homegrown firms scale and expand.

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

According to the report, a small slice of this particular cooking pot of money may be “diverted to high advancement technology opportunities as fintech.”

Kalifa has additionally advised expanding R&D tax credits thanks to the popularity of theirs, with 97 per cent of founders having utilized tax-incentivised investment schemes.

Despite the UK becoming a home to several of the world’s most productive fintechs, few have selected to mailing list on the London Stock Exchange, in truth, the LSE has seen a 45 per cent decrease in the number of listed companies on its platform after 1997. The Kalifa examination sets out measures to change that as well as makes some suggestions which seem to pre-empt the upcoming Treasury backed assessment into listings led by Lord Hill.

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

Under the strategies laid out in the review, free float needs will be reduced, meaning businesses don’t have to issue a minimum of twenty five per cent of the shares to the general population at almost any one time, rather they will simply have to offer ten per cent.

The review also suggests implementing dual share structures which are much more favourable to entrepreneurs, indicating they will be in a position to maintain control in the companies of theirs.


To make certain the UK is still a top international fintech destination, the Kalifa assessment has recommended revising the current Fintech News  –  “Fintech International Action Plan.”

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

Kalifa also implies that the UK really needs to develop stronger trade connections with before untapped markets, focusing on Blockchain, regtech, payments and open banking and remittances.

National Connectivity

Another strong rumour to be established is actually Kalifa’s recommendation to write ten fintech’ Clusters’, or perhaps regional hubs, to guarantee local fintechs are actually offered the support to grow and expand.

Unsurprisingly, London is the only super hub on the list, meaning Kalifa categorises it as a worldwide leader in fintech.

After London, there are actually 3 large and established clusters where Kalifa recommends hubs are actually proven, the Pennines (Leeds and Manchester), Scotland, with specific guide to the Edinburgh/Glasgow corridor, along with 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, West and Reading of London, Wales (especially Cardiff along with South Wales) Northern Ireland.

The Kalifa review indicates nurturing the top ten regions, making an effort to concentrate on the specialities of theirs, while at the same enhancing the channels of communication between the various other hubs.

Fintech News  – UK needs a fintech taskforce to shield £11bn business, says report by Ron Kalifa