Fintech News Canada: Prodigy  and also FinConecta  collaborate to accelerate the distribution of Fintech  solutions in Canada

Fintech News Canada: Prodigy  and also FinConecta team up to accelerate the  circulation of Fintech  solutions in Canada, the  USA  and also  worldwide

Prodigy Ventures Inc. (TSXV: PGV) ( Prodigy or the  Business) today  revealed it has  authorized a new  Partnership  Arrangement with FinConecta (AANDB Tech, Inc.), a global technology  firm  devoted to accelerating digitization of  financing  as well as open banking.

Under the  regards to the  arrangement Prodigy will provide consulting, integration  as well as  handled  solutions to enable the  quick  implementation of FinConecta‘s  groundbreaking API (Application Programing  User interface) based platform.  With each other, Prodigy and FinConecta  will certainly work to accelerate digital  change and  Open up  Financial,  helping with new use  situations and  company  chances for all current and future  gamers in the financial industry.

 Our  objective at Prodigy is to  supply Fintech  development,  stated Tom Beckerman, Prodigy‘s Chairman and  Chief Executive Officer. We are  thrilled to  companion with FinConecta, and  take advantage of their world-leading platform. We know that there is  terrific demand at our financial institutions and leading enterprises to  provide  cutting-edge Fintech solutions to their customers. This  Partnership is  objective built to  provide  on that particular  pledge.

Jorge Ruiz, FinConecta‘s  Creator  as well as CEO commented, Our best-of-breed platform,  integrated with Prodigy‘s proven record of  quick  development  as well as service  shipment to  big financial institutions  and also enterprises, will be a  development in the Fintech  area.  With each other, our Alliance will  provide  straightforward,  quickly,  reliable  and also scalable  services that transform financial  solutions  and also ecommerce.

Prodigy  as well as FinConecta‘s  Partnership will  make it possible for financial institutions to accelerate their  trip towards  screening solutions  and also running  evidence of  principles to  generating income from APIs  and also  introducing  brand-new offerings  quicker. FinConecta‘s middleware  likewise  uses a  magazine of curated Fintech  business that  give digital  solutions to financial institutions on a SaaS model and the  capacity to  gain access to multiple solutions  with a  solitary  combination, 10 times  much faster.

For Fintechs already operating in Canada and the  USA of America or willing to do so, this  Partnership  provides  worldwide  direct exposure to  prospective  customers, a  detailed sandbox to  examination products,  and also a single integration through normalized APIs, giving them access to core banking systems without  needing to  incorporate with them  separately.

 Regarding Prodigy Ventures Inc – Fintech News Canada

. Prodigy  supplies Fintech innovation. The  Firm  offers leading  side  systems, including IDVerifact  for  electronic  identification,  as well as  brand-new Fintech platforms for open banking and payments. Our  solutions  service, Prodigy Labs , integrates  as well as  personalizes our  systems for  special enterprise  client  demands,  and also provides technology  solutions for  electronic  identification, payments, open  financial  as well as  electronic  change. Digital  change  solutions include  technique,  design,  layout,  task management,  nimble  growth,  high quality  design  and also  personnel augmentation. Prodigy  has actually been  identified as one of Canada‘s fastest  expanding companies with  numerous  honors: Deloitte‘s Fast 50 Canada  and also Fast 500  The United States And Canada (2016, 2017, 2018), Branham 300 (2017, 2018),  Development List (2018, 2019 and 2020), Canada‘s Top  Expanding  Firms (2019  and also 2020).

 Concerning FinConecta 

– Fintech News Canada

FinConecta is a  international  innovation  firm  devoted to  speeding up digitization of finance and open banking.  Established in 2016, headquartered in Miami,  as well as with operations in multiple  nations  around the globe, FinConecta is a FDX  Participant  as well as AWS Advanced  Companion.  Find out more at Fintech News Canada.


Fintech news around the globe

Fintech news around the  marketplace


Fintech News Philippines

Earlier  today, Philippines-based Netbank, a banking as a service (BaaS) platform, went  reside in the Southeast Asian country.

Netbank  has actually  supposedly been  created by an  skilled team of  worldwide  as well as  regional banking  experts. Like the country‘s  electronic  financial institution Tonik, Netbank is a  completely  managed  financial  establishment that will be operating under a rural banking  license.

The Netbank  system is currently in operation. The bank is  reserving  lendings that are  stemmed by  3  various alternative  loan providers. It  has actually  additionally  carried out the  facilities  needed to  supply a  thorough  series of  financial solutions,  making use of Amazon  Internet  Solutions (AWS) to operate its core  financial system.

Netbank  states that it aims to  supply  straightforward,  innovative,  inexpensive  solutions  to make sure that Fintechs in the Philippines are able to  quickly open new accounts,  give  financings  as well as  look after their  repayments.

Netbank  verified that it  will certainly introducing a  large range of  devices for  conformity,  scams  monitoring, API services,  and also  various other  economic applications.

Netbank  included that they are a member of PesoNet  and also Instapay. The bank  likewise noted that the support  used by Bangko Sentral ng Pilipinas (BSP), the  country‘s  reserve bank,  has actually been  rather  useful,  particularly when officially  releasing its neobanking  system.

Fintech News Canada

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

Toronto-based Ratehub, which  runs the  monetary product comparison site,  stated the launch brings the  business one step closer towards  attaining its goal of being Canada‘s  best source for  electronic  individual finance  items  throughout insurance, mortgages, credit cards,  spending  and also banking  items.

Fintech News Malaysia

The Fintech Association of Malaysia (FAOM), a  essential enabler and  nationwide  system for the facilitation of Malaysia‘s journey to becoming a leading hub for Financial  Modern technology (Fintech) innovation and investment in the region  organized its  4th Annual Grand Meeting (AGM) which was held  basically on 30 April 2021.
The AGM was  participated in by its outgoing  board  participants from the 2019/2020 term  as well as representatives from  prestigious member organisations. The AGM was  assembled with the purpose of  evaluating the  development achieved by the Association  so far, the Covid-19 related  obstacles  dealt with by the  market, strategising the way  ahead for the further  advancement of Malaysia‘s fintech  market  and also most  notably,  revealing the new line-up of  board  participants who  will certainly be helming FAOM for the 2020/2021 term.

Fintech News Australia

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

According to an  main  statement, the  current  financing round was led by Acorn Capital, Artesian, Commencer  Funding and Mastercard. In addition, the  firm is planning to introduce  brand-new  functions to compete with  various other payment platforms in the country.

Fintech News Switzerland

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

The neon team notes:

  Too much  charges, inflexible opening times,  excessive bureaucracy  and also  challenging  applications. To us, it was clear: it  can not  take place like that. That‘s why we  constructed neon. neon is your  purchase  make up your everyday finances. No base  charges,  complimentary Mastercard. Super  straightforward. All on your  smart device. 100% independent.

 Capitalists in neon‘s  financial investment round  supposedly  consist of the TX  Team, BackBone Ventures, QoQa  Providers SA, the Helvetia Venture Fund, the Schwyzer Kantonalbank‘s  advancement foundation,  in addition to  personal investors.

With 70,000  customers currently on board, neon is introducing equity crowdinvesting with tokenized non-voting shares which will  supposedly be kept in a  individual  budget. The Swiss digital  possession  system Sygnum  Financial institution is  working as the tokenization  companion. As previously reported, Sygnum Bank, a  certified crypto-asset  financial institution,  has actually been founded on Swiss  as well as Singapore heritage  as well as operates  around the world.

Fintech News UK

Financial  innovation  company Wise said Tuesday that  customers in India  would certainly  currently be able to send  cash abroad to 44  nations  around the globe.

That  consists of places like Singapore, the U.K., the United States, the United Arab Emirates as well as countries 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 paying for studying abroad, according to data from the Reserve Bank of India. Under a liberalized remittance  system, the  reserve bank allows  homeowners to  easily send up to $250,000 abroad to fund personal  expenditures or  education and learning per  fiscal year which  starts in April  as well as  finishes in March the  list below year.

Fintech News in India

Jai Kisan, an Indian startup that is attempting to bring  economic services to  country India, where commercial  financial institutions have a single-digit penetration,  stated on Monday it  has actually raised $30 million in a new financing round as it  seeks to scale its  organization.

Hundreds of  countless  individuals in India today  stay in rural areas.  A lot of them don’t have a  credit report. The  occupations they  deal with largely farming aren’t considered a  service by  a lot of  lending institutions in India. These farmers  and also  various other  specialists also  do not have a documented credit history, which  places them in a  high-risk category for banks to grant them a  car loan.

Fintech News Singapore

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

The neon team notes:

  Extreme  charges, inflexible opening times,  excessive  administration and  challenging  applications. To us, it was clear: it  can not go on like that. That‘s why we  constructed neon. neon is your  purchase account for your  day-to-day  financial resources. No base  costs, free Mastercard. Super simple. All on your smartphone. 100% independent.

 Financiers in neon‘s  financial investment round reportedly include the TX  Team,  Foundation Ventures, QoQa  Providers SA, the Helvetia Venture Fund, the Schwyzer Kantonalbank‘s  advancement foundation,  along with private  financiers.

With 70,000 clients currently  aboard, neon is introducing equity crowdinvesting with tokenized non-voting shares which will  apparently be kept in a personal  budget. The Swiss  electronic asset  system Sygnum  Financial institution is  acting as the tokenization  companion. As  formerly reported, Sygnum  Financial institution, a  certified crypto-asset bank,  has actually been founded on Swiss  and also Singapore heritage  and also  runs globally.


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

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

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

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

The recommendation is actually a part of an article by Ron Kalifa, former boss on the payments processor Worldpay, who was made by way of the Treasury in July to formulate ways to create the UK 1 of the world’s leading fintech centres.

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

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

For weeks rumours have been swirling concerning what can be in the long awaited Kalifa review into the fintech sector and also, for probably the most part, it appears that most were spot on.

According to FintechZoom, the report’s publication comes close to a year to the morning that Rishi Sunak first said the review in his first budget as Chancellor of the Exchequer in May last year.

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

Allow me to share the reports 5 key recommendations to the Government:

Regulation and policy

In a move that has to be music to fintech’s ears, Kalifa has suggested developing as well as adopting common data requirements, which means that incumbent banks’ slow legacy methods just simply will not be sufficient to get by anymore.

Kalifa has additionally advised prioritising Smart Data, with a certain focus on amenable banking and also opening upwards a lot more channels of talking between open banking-friendly fintechs and bigger financial institutions.

Open Finance even gets a shout-out in the article, with Kalifa telling the federal government that the adoption of open banking with the aim of reaching open finance is of paramount importance.

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

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

Watching the good results of the FCA’ regulatory sandbox, Kalifa has also proposed a’ scalebox’ which will aid fintech businesses to grow and expand their operations without the fear of being on the bad aspect of the regulator.


So as to get the UK workforce up to speed with fintech, Kalifa has recommended retraining workers to cover the growing requirements of the fintech segment, proposing a series of inexpensive training classes to do it.

Another rumoured addition to have been incorporated in the report is a brand new visa route to ensure high tech talent isn’t place off by Brexit, ensuring the UK continues to be a best international competitor.

Kalifa suggests a’ Fintech Scaleup Stream’ that will offer those with the required skills automatic visa qualification and offer guidance for the fintechs hiring high tech talent abroad.


As previously suspected, Kalifa implies the government produce a £1bn Fintech Growth Fund to help homegrown firms scale and grow.

The report indicates that the UK’s pension planting containers could be a great method for fintech’s funding, with Kalifa pointing out the £6 trillion currently sat within private pension schemes in the UK.

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

Kalifa has also suggested expanding R&D tax credits because of the popularity of theirs, with 97 per cent of founders having utilized tax-incentivised investment schemes.

Despite the UK acting as home to several of the world’s most successful fintechs, very few have picked to subscriber list on the London Stock Exchange, in reality, the LSE has observed a forty five per cent reduction in the selection of companies which are listed on its platform after 1997. The Kalifa review sets out measures to change that as well as makes several recommendations that seem to pre-empt the upcoming Treasury-backed review straight into listings led by Lord Hill.

The Kalifa report reads: “IPOs are actually thriving globally, driven in part by tech organizations that will have become indispensable to both buyers and companies in search of digital resources amid the coronavirus pandemic plus it’s important that the UK seizes this particular opportunity.”

Under the strategies laid out in the review, free float requirements will be reduced, meaning businesses no longer have to issue a minimum of 25 per cent of their shares to the public at virtually any one time, rather they’ll just have to give ten per cent.

The review also suggests using dual share constructs that are more favourable to entrepreneurs, meaning they are going to be in a position to maintain control in their companies.


In order to ensure the UK remains a best international fintech destination, the Kalifa review has suggested revising the current Fintech News  –  “Fintech International Action Plan.”

The review suggests launching a worldwide fintech portal, including a clear overview of the UK fintech scene, contact info for regional regulators, case research studies of previous success stories and details about the help and grants readily available to international companies.

Kalifa also suggests that the UK needs to create stronger trade relationships with before untapped markets, focusing on Blockchain, regtech, payments and open banking and remittances.

National Connectivity

Another solid rumour to be confirmed is Kalifa’s recommendation to create 10 fintech’ Clusters’, or maybe regional hubs, to guarantee local fintechs are offered the support to grow and expand.

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

After London, there are three big as well as established clusters where Kalifa suggests hubs are actually demonstrated, the Pennines (Leeds and Manchester), Scotland, with specific resource to the Edinburgh/Glasgow corridor, along with Birmingham – Fintech News .

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

The Kalifa review indicates nurturing the top ten regions, making an endeavor to concentrate on their specialities, while simultaneously enhancing the channels of communication between the other hubs.

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