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

Fintech News Canada: Prodigy  and also FinConecta  collaborate to  increase the  circulation of Fintech services in Canada, the United States  as well as around the world

Prodigy Ventures Inc. (TSXV: PGV) ( Prodigy or the Company) today  revealed it has signed a new Alliance Agreement with FinConecta (AANDB Tech, Inc.), a  international technology  firm dedicated to  increasing digitization of  financing and open banking.

Under the  regards to the  contract Prodigy will  supply consulting,  combination and  took care of services to  make it possible for the  quick  implementation of FinConecta‘s  groundbreaking API (Application Programing  User interface) based platform.  With each other, Prodigy  and also FinConecta  will certainly work to  increase digital  improvement  and also Open Banking,  promoting  brand-new use cases  and also  company  chances for all  existing  as well as future  gamers in the  economic  sector.

 Our mission at Prodigy is to  provide Fintech  technology,  claimed Tom Beckerman, Prodigy‘s Chairman  and also CEO. We are  thrilled to partner with FinConecta, and leverage their world-leading  system. We know that there is great  need at our  banks and leading enterprises to  provide  ingenious Fintech  services to their customers. This  Partnership is  function  developed to deliver on that promise.

Jorge Ruiz, FinConecta‘s Founder  as well as CEO commented, Our best-of-breed platform, combined with Prodigy‘s  tried and tested record of  fast innovation  as well as  solution delivery to  big  banks  as well as enterprises, will be a  development in the Fintech space. Together, our Alliance will  supply  easy, fast,  effective  as well as scalable  services that transform financial  solutions  as well as ecommerce.

Prodigy  as well as FinConecta‘s Alliance will  make it possible for financial institutions to  increase their journey towards testing  options and running  evidence of concepts to monetizing APIs and  introducing new offerings  quicker. FinConecta‘s middleware  additionally  uses a  brochure of curated Fintech companies that  offer digital services to financial institutions on a SaaS model and the  capacity to access  several  options through a  solitary  combination, 10 times  quicker.

For Fintechs  currently  running in Canada  as well as the United States of America or  ready to do so, this  Partnership  supplies  international  direct exposure to potential  customers, a comprehensive sandbox to test products,  and also a single  assimilation  with  stabilized APIs,  providing  accessibility to core banking systems without having to  incorporate with them  independently.

 Regarding Prodigy Ventures Inc – Fintech News Canada

. Prodigy delivers Fintech  advancement. The Company  gives leading  side  systems, including IDVerifact  for digital identity,  as well as  brand-new Fintech platforms for open  financial  as well as  repayments. Our  solutions  organization, Prodigy Labs , integrates and customizes our  systems for  distinct  venture  client  needs, and  supplies technology  solutions for  electronic identity, payments, open banking  and also digital transformation. Digital  improvement services include strategy, architecture,  layout,  task  administration,  active development,  top quality engineering and staff  enhancement. Prodigy  has actually been  identified as one of Canada‘s fastest growing  firms with  numerous  honors: Deloitte‘s  Quick 50 Canada  and also Fast 500 North America (2016, 2017, 2018), Branham 300 (2017, 2018),  Development List (2018, 2019  and also 2020), Canada‘s Top  Expanding Companies (2019  as well as 2020).

 Regarding FinConecta 

– Fintech News Canada

FinConecta is a global  modern technology company dedicated to accelerating digitization of  financing  and also open banking. Founded in 2016, headquartered in Miami,  as well as with operations in  numerous  nations around the world, FinConecta is a FDX Member  as well as AWS Advanced Partner.  Discover more at Fintech News Canada.


Fintech news around the world

Fintech news around the  earth


Fintech News Philippines

Earlier this week, Philippines-based Netbank, a  financial as a service (BaaS) platform, went  reside in the Southeast  Oriental country.

Netbank has reportedly been  created by an  skilled team of  global  as well as local  financial  experts. Like the  nation‘s  electronic bank Tonik, Netbank is a  completely  managed  financial  organization that  will certainly be operating under a  country banking permit.

The Netbank  system is  presently in operation. The  financial institution is  scheduling  finances that are  come from by three different  alternate  loan providers. It has  additionally  carried out the  framework  needed to  supply a  extensive range of banking  remedies,  utilizing Amazon Web  Solutions (AWS) to operate its core  financial system.

Netbank says that it aims to  supply simple,  imaginative,  cost effective services  to ensure that Fintechs in the Philippines  have the ability to  conveniently open  brand-new accounts,  give loans  as well as  look after their payments.

Netbank  validated that it  will certainly  presenting a  variety of  devices for  conformity,  scams  administration, API services,  as well as  various other financial applications.

Netbank added that they are a member of PesoNet  and also Instapay. The bank  likewise noted that the support  provided by Bangko Sentral ng Pilipinas (BSP), the  country‘s central bank, has been quite  handy, especially when  formally  introducing its neobanking platform.

Fintech News Canada

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

Toronto-based Ratehub, which operates the financial  item comparison site,  claimed the launch brings the  firm one  action  better  in the direction of achieving its goal of being Canada‘s  best  resource for  electronic personal  financing  items across  insurance policy,  home mortgages,  bank card,  spending  and also banking products.

Fintech News Malaysia

The Fintech  Organization of Malaysia (FAOM), a key enabler  as well as national platform for the facilitation of Malaysia‘s  trip to  ending up being a leading  center for Financial  Innovation (Fintech)  technology  and also investment in the  area hosted its  4th  Yearly Grand Meeting (AGM) which was held  essentially on 30 April 2021.
The AGM was  gone to by its  outward bound committee members from the 2019/2020 term  and also  reps from esteemed  participant organisations. The AGM was  assembled with the  function of reviewing the progress achieved by the  Organization thus far, the Covid-19 related challenges  encountered by the  market, strategising the way  onward for the  additional development of Malaysia‘s fintech industry and most  notably,  revealing the new line-up of committee  participants  that  will certainly be helming FAOM for the 2020/2021 term.

Fintech News Australia

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

According to an official  statement, the  current  financing round was led by Acorn  Resources, Artesian, Commencer  Funding and Mastercard.  Additionally, the company is  preparing to introduce new  attributes to  take on  various other  settlement  systems in the country.

Fintech News Switzerland

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

The neon team notes:

  Extreme  charges, inflexible opening times,  excessive  administration  as well as complicated apps. To us, it was clear: it can’t  take place like that. That‘s why we built neon. neon is your  purchase  make up your  day-to-day  financial resources. No base  charges,  complimentary Mastercard. Super  straightforward. All on your  mobile phone. 100% independent.

 Financiers in neon‘s  financial investment round  supposedly  consist of the TX Group, BackBone Ventures, QoQa  Solutions SA, the Helvetia Venture Fund, the Schwyzer Kantonalbank‘s innovation  structure, as well as private  capitalists.

With 70,000 clients  presently  aboard, neon is  presenting equity crowdinvesting with tokenized non-voting shares which will reportedly be kept in a personal  purse. The Swiss digital  property platform Sygnum Bank is  working as the tokenization partner. As  formerly reported, Sygnum Bank, a  certified crypto-asset bank,  has actually been founded on Swiss  and also Singapore heritage and operates  worldwide.

Fintech News UK

Financial  innovation firm Wise  claimed Tuesday that  customers in India would  currently be able to send money abroad to 44 countries  around the globe.

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

India‘s  outside  compensations in the fiscal year 2019-2020 was around $18.75 billion, with  greater than 60% of it categorized under travel and paying for  examining abroad, according to  information from the Reserve Bank of India. Under a liberalized  compensation  plan, the central bank  enables  homeowners to  openly send up to $250,000 abroad to  money personal expenses or  education and learning per  fiscal 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  business  financial institutions have a single-digit  infiltration,  claimed on Monday it has  elevated $30 million in a  brand-new  funding round as it  seeks to scale its  service.

 Thousands of  numerous  individuals in India today live in rural areas.  A lot of them  do not have a  credit history. The  careers they  work with largely farming aren’t considered a business by  many  lending institutions in India. These farmers and other professionals  additionally don’t have a  recorded  credit report, which  places them in a risky  classification for banks to  approve them a  financing.

Fintech News Singapore

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

The neon team notes:

  Extreme fees, inflexible opening times,  excessive bureaucracy  as well as  complex  applications. To us, it was clear: it  can not go on like that. That‘s why we  developed neon. neon is your  deal  make up your everyday  funds. No base fees,  totally free Mastercard. Super  easy. All on your  mobile phone. 100% independent.

 Financiers in neon‘s  financial investment round  supposedly  consist of the TX  Team,  Foundation Ventures, QoQa  Solutions SA, the Helvetia Venture Fund, the Schwyzer Kantonalbank‘s  advancement foundation, as well as private  capitalists.

With 70,000 clients  presently on board, neon is  presenting equity crowdinvesting with tokenized non-voting shares which will  supposedly be kept in a personal  budget. The Swiss  electronic  property platform Sygnum Bank is  working as the tokenization partner. As  formerly reported, Sygnum  Financial institution, a  qualified crypto-asset  financial institution, has been founded on Swiss  and also Singapore heritage and  runs  internationally.


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

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

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

The body, which might be known as the Digital Economy Taskforce, would get together senior figures coming from across regulators and government to co ordinate policy and get rid of blockages.

The recommendation is actually a part of a report by Ron Kalifa, former supervisor of the payments processor Worldpay, who was asked with the Treasury contained July to come up with ways to create the UK 1 of the world’s leading fintech centres.

“Fintech is not a market within financial services,” says the review’s author 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 happen to be swirling regarding what might be in the long-awaited Kalifa review into the fintech sector and also, for the most part, it seems that most were area on.

According to FintechZoom, the report’s publication comes almost a year to the day time that Rishi Sunak initially said the review in his 1st 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 deep 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 and adopting typical details standards, which means that incumbent banks’ slow legacy systems just simply won’t be enough to get by any longer.

Kalifa has additionally advised prioritising Smart Data, with a specific concentrate on receptive banking as well as opening upwards more routes of talking between open banking-friendly fintechs and bigger financial institutions.

Open Finance actually gets a shout-out in the article, with Kalifa revealing to the federal government that the adoption of available banking with the goal of reaching open finance is of paramount importance.

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

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

Following the achievements on the FCA’ regulatory sandbox, Kalifa has also suggested a’ scalebox’ that will help fintech companies to grow and grow their businesses without the fear of getting on the wrong side of the regulator.


To get the UK workforce up to speed with fintech, Kalifa has suggested retraining employees to cover the expanding requirements of the fintech sector, proposing a set of low-cost training programs to do it.

Another rumoured accessory to have been integrated in the report is an innovative visa route to ensure top tech talent isn’t put off by Brexit, promising the UK is still a best international competitor.

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


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

The report indicates that this UK’s pension planting containers might be a fantastic tool for fintech’s financial backing, with Kalifa pointing out the £6 trillion currently sat inside private pension schemes inside the UK.

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

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

Despite the UK acting as home to several of the world’s most effective fintechs, very few have chosen to mailing list on the London Stock Exchange, in reality, the LSE has seen a 45 per cent decrease in the selection of listed companies on its platform after 1997. The Kalifa evaluation sets out steps to change that and also makes several recommendations that seem to pre empt the upcoming Treasury backed assessment straight into listings led by Lord Hill.

The Kalifa report reads: “IPOs are actually thriving globally, driven in portion by tech organizations that have become vital to both customers and organizations in search of digital resources amid the coronavirus pandemic plus it is crucial that the UK seizes this particular opportunity.”

Under the strategies laid out in the assessment, free float requirements will be reduced, meaning companies no longer have to issue not less than 25 per cent of the shares to the general population at every one time, rather they will just have to provide ten per cent.

The review also suggests using dual share constructs that are more favourable to entrepreneurs, indicating they are going to be able to maintain control in the companies of theirs.


In order to ensure the UK continues to be a leading international fintech desired destination, the Kalifa assessment has advised revising the present Fintech News  –  “Fintech International Action Plan.”

The review suggests launching an international fintech portal, including a specific introduction of the UK fintech world, contact information for regional regulators, case scientific studies of previous success stories as well as details about the support and grants readily available to international companies.

Kalifa even hints that the UK really needs to develop stronger trade connections with previously untapped markets, concentrating on Blockchain, regtech, payments and open banking and remittances.

National Connectivity

Another powerful rumour to be confirmed is actually Kalifa’s recommendation to create 10 fintech’ Clusters’, or regional hubs, to guarantee local fintechs are provided the support to grow and grow.

Unsurprisingly, London is actually the only super 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 wherein Kalifa recommends hubs are actually established, the Pennines (Manchester and Leeds), Scotland, with specific resource to the Edinburgh/Glasgow corridor, and Birmingham – Fintech News .

While other facets of the UK were categorised as emerging or perhaps specialist clusters, like Bath and Bristol, Newcastle and Durham, 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 focus 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 safeguard £11bn industry, says article by Ron Kalifa