Fintech News Canada: Prodigy  and also FinConecta team up to  increase the  circulation of Fintech  solutions in Canada

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

Prodigy Ventures Inc. (TSXV: PGV) ( Prodigy or the  Business) today announced it has  authorized a new  Partnership  Contract with FinConecta (AANDB  Technology, Inc.), a  worldwide technology company  devoted to  speeding up digitization of finance  as well as open banking.

Under the terms of the  contract Prodigy  will certainly provide consulting,  combination and managed services to  allow the  fast  release of FinConecta‘s  groundbreaking API (Application Programing  User interface) based platform. Together, Prodigy  and also FinConecta  will certainly  function to  increase  electronic  improvement  and also Open  Financial,  helping with new  usage  situations  as well as  organization opportunities for all  existing and future players in the  monetary industry.

 Our  objective at Prodigy is to deliver Fintech  development,  claimed Tom Beckerman, Prodigy‘s Chairman  and also  Chief Executive Officer. We are  delighted to  companion with FinConecta,  as well as  utilize their world-leading  system. We know that there is  wonderful  need at our financial institutions and leading  business to  supply  cutting-edge Fintech solutions to their  clients. This Alliance is  function  constructed to  supply on that promise.

Jorge Ruiz, FinConecta‘s Founder and CEO commented, Our best-of-breed platform, combined with Prodigy‘s proven record of  fast  advancement and  solution  distribution to  big  banks and enterprises, will be a  advancement in the Fintech space.  With each other, our Alliance will deliver  easy,  quickly,  effective  and also scalable  services that transform  economic services  as well as ecommerce.

Prodigy  as well as FinConecta‘s  Partnership will  allow financial institutions to  increase their  trip towards testing  options and running proof of concepts to monetizing APIs  as well as  introducing  brand-new offerings faster. FinConecta‘s middleware  additionally  provides a  magazine of curated Fintech  firms that  supply digital services to  banks on a SaaS model  and also the  capacity to  accessibility multiple  remedies  via a single  combination, 10 times  quicker.

For Fintechs already operating in Canada  as well as the  USA of America or  ready to do so, this  Partnership  uses  international  direct exposure to potential clients, a  detailed sandbox to test products, and a  solitary integration  via  stabilized APIs, giving them  accessibility to core banking systems without  needing to  incorporate with them  separately.

About Prodigy Ventures Inc – Fintech News Canada

. Prodigy  supplies Fintech innovation. The  Business  offers leading  side  systems,  consisting of IDVerifact  for  electronic  identification, and  brand-new Fintech  systems for open banking  as well as  repayments. Our services  service, Prodigy Labs , integrates  and also customizes our platforms for unique enterprise  consumer  needs,  and also  supplies  modern technology services for digital identity, payments, open banking  as well as digital  change. Digital transformation services  consist of strategy, architecture,  layout, project  administration,  dexterous  growth,  high quality  design and  personnel augmentation. Prodigy  has actually been recognized as one of Canada‘s fastest growing  firms with  several  honors: Deloitte‘s  Rapid 50 Canada  as well as Fast 500 North America (2016, 2017, 2018), Branham 300 (2017, 2018),  Development  Checklist (2018, 2019 and 2020), Canada‘s Top  Expanding Companies (2019  and also 2020).

 Regarding FinConecta 

– Fintech News Canada

FinConecta is a  international  innovation  business  committed to  increasing digitization of finance and open  financial. Founded in 2016, headquartered in Miami,  as well as with operations in  numerous countries around the world, FinConecta is a FDX Member  and also AWS Advanced Partner.  Find out more at Fintech News Canada.


Fintech news around the world

Fintech news around the globe


Fintech News Philippines

 Previously this week, Philippines-based Netbank, a banking as a service (BaaS) platform, went  stay in the Southeast  Eastern country.

Netbank  has actually  apparently been  created by an  knowledgeable team of  global  as well as  regional banking professionals. Like the country‘s  electronic  financial institution Tonik, Netbank is a fully  controlled banking  organization that  will certainly be operating under a rural banking permit.

The Netbank platform is  presently in operation. The  financial institution is booking loans that are  come from by three different alternative  lending institutions. It  has actually also  executed the  framework  needed to  supply a comprehensive  series of  financial  services,  utilizing Amazon Web  Provider (AWS) to operate its core  financial system.

Netbank  claims that it  intends to  use  easy,  imaginative,  inexpensive services  to ensure that Fintechs in the Philippines are able to easily  open up  brand-new accounts, provide  finances and  care for their  settlements.

Netbank  validated that it  will certainly  presenting a wide range of tools for compliance,  fraudulence  monitoring, API  solutions, and other  monetary applications.

Netbank  included that they are a member of PesoNet  and also Instapay. The bank  additionally noted that the support  used by Bangko Sentral ng Pilipinas (BSP), the  country‘s central bank, has been  rather  practical, especially when officially  releasing its neobanking platform.

Fintech News Canada

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

Toronto-based Ratehub, which  runs the  economic  item comparison site,  stated the launch brings the  firm one  action  more detailed towards  accomplishing its goal of being Canada‘s go-to  resource for digital  individual  money products  throughout  insurance policy, mortgages,  charge card,  spending and banking  items.

Fintech News Malaysia

The Fintech Association of Malaysia (FAOM), a key enabler  as well as national  system for the  assistance of Malaysia‘s journey to  coming to be a leading  center for Financial  Innovation (Fintech)  technology and investment in the region  held its  4th Annual Grand  Satisfying (AGM) which was held  basically on 30 April 2021.
The AGM was  participated in by its  outbound  board members from the 2019/2020 term  as well as representatives from  prestigious  participant organisations. The AGM was convened with the  function of  evaluating the  progression  accomplished by the  Organization thus far, the Covid-19 related  difficulties  dealt with by the  market, strategising the  method  ahead for the  more development of Malaysia‘s fintech  market  and also most importantly,  revealing the  brand-new line-up of committee members who will be helming FAOM for the 2020/2021 term.

Fintech News Australia

Australia‘s fintech  start-up, mx51 announced that the  firm  has actually  safeguarded $25 million in the Series A funding round to  increase its expansion.

According to an official  news, the  current funding round was led by Acorn Capital, Artesian, Commencer Capital  as well as Mastercard.  Additionally, the  firm is planning to  present new  functions to compete with other payment  systems in the country.

Fintech News Switzerland

Switzerland-based Fintech  company neon has  safeguarded 7 million CHF (appr. $7.78 million) from existing investors and  has actually  likewise launched a crowdfunding round for clients.

The neon team notes:

 Excessive  charges, inflexible opening times, too much  administration and  complex apps. 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 fees,  totally free Mastercard. Super simple. All on your  smart device. 100% independent.

Investors in neon‘s investment round  supposedly include the TX Group,  Foundation Ventures, QoQa Services SA, the Helvetia  Endeavor Fund, the Schwyzer Kantonalbank‘s innovation foundation, as well as  personal  financiers.

With 70,000  customers currently  aboard, neon is  presenting equity crowdinvesting with tokenized non-voting shares which will  apparently 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 bank,  has actually been founded on Swiss and Singapore heritage  and also  runs  internationally.

Fintech News UK

Financial  innovation  company Wise  claimed Tuesday that  customers in India  would certainly now  have the ability to  send out  cash abroad to 44  nations  around the globe.

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

India‘s  outside  compensations in the fiscal year 2019-2020 was  about $18.75 billion, with  greater than 60% of it categorized under travel and paying for studying abroad, according to data from the Reserve Bank of India. Under a liberalized  compensation  system, the central bank  permits  locals to  openly send up to $250,000 abroad to  money personal  expenditures or  education and learning per financial 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 financial  solutions to rural India, where  business banks have a single-digit  infiltration,  stated on Monday it has raised $30 million in a  brand-new  funding round as it  seeks to scale its  organization.

 Thousands of  numerous  individuals in India today live in  backwoods.  A lot of them don’t have a  credit history. The  careers they  service  mainly farming aren’t  taken into consideration a business by  a lot of  loan providers in India. These farmers  and also  various other  specialists  likewise don’t have a documented credit history, which  places them in a risky category for  financial institutions to grant them a  funding.

Fintech News Singapore

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

The neon team notes:

  Too much  charges, inflexible opening times,  way too much bureaucracy  as well as  difficult apps. To us, it was clear: it  can not  take place like that. That‘s why we  developed neon. neon is your transaction account for your everyday  funds. No base  charges,  complimentary Mastercard. Super  basic. All on your  smart device. 100% independent.

 Capitalists 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  development foundation,  along with private  financiers.

With 70,000 clients currently on board, neon is introducing equity crowdinvesting with tokenized non-voting shares which will reportedly be kept in a  individual wallet. The Swiss  electronic  property platform Sygnum  Financial institution is serving as the tokenization  companion. As  formerly reported, Sygnum  Financial institution, a licensed crypto-asset  financial institution, has been founded on Swiss  and also Singapore heritage and operates  worldwide.


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

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

The government has been urged to establish a high-profile taskforce to lead innovation in financial technology as part of the UK’s progress plans after Brexit.

The body, which might be referred to as the Digital Economy Taskforce, would draw together senior figures as a result of throughout regulators and government to co ordinate policy and get rid of blockages.

The suggestion is actually a part of an article by Ron Kalifa, former boss of your payments processor Worldpay, which was asked by way of the Treasury contained July to think of ways to create the UK 1 of the world’s leading fintech centres.

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

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

For weeks rumours have been swirling regarding what could be in the long-awaited Kalifa assessment into the fintech sector and, for the most part, it looks like most were area on.

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

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 plunge into fintech.

Here are the reports five important tips to the Government:

Regulation and policy

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

Kalifa in addition has suggested prioritising Smart Data, with a specific target on amenable banking and opening up a great deal more channels of communication between bigger financial institutions and open banking-friendly fintechs.

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

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

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

Following the good results belonging to the FCA’ regulatory sandbox, Kalifa has also suggested a’ scalebox’ which will help fintech companies to develop and grow their operations without the fear of being on the bad side of the regulator.


To get the UK workforce up to speed with fintech, Kalifa has suggested retraining employees to meet the growing requirements of the fintech sector, proposing a sequence of inexpensive education courses to do it.

Another rumoured accessory to have been included in the report is a new visa route to make sure top tech talent is not place off by Brexit, ensuring the UK remains a leading international competitor.

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


As earlier suspected, Kalifa indicates the governing administration produce a £1bn Fintech Growth Fund to assist homegrown firms scale and grow.

The report suggests that this UK’s pension pots could be a fantastic tool for fintech’s financial support, with Kalifa pointing out the £6 trillion currently sat inside private pension schemes inside the UK.

According to the report, a tiny slice of this pot of cash could be “diverted to high advancement technology opportunities like fintech.”

Kalifa has additionally suggested expanding R&D tax credits thanks to their popularity, with 97 per dollar of founders having utilized tax incentivised investment schemes.

Despite the UK being home to some of the world’s most productive fintechs, very few have picked to list on the London Stock Exchange, in fact, the LSE has seen a forty five per cent decrease in the selection of listed companies on its platform since 1997. The Kalifa review sets out steps to change that and also makes some recommendations which seem to pre-empt the upcoming Treasury backed review directly into listings led by Lord Hill.

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

Under the suggestions laid out in the review, free float requirements will be reduced, meaning businesses don’t have to issue at least twenty five per cent of their shares to the general public at any one time, rather they will just need to offer 10 per cent.

The examination also suggests using dual share components that are a lot more favourable to entrepreneurs, meaning they are going to be able to maintain control in their companies.


To make certain the UK continues to be a best international fintech destination, the Kalifa review has recommended revising the present Fintech News  –  “Fintech International Action Plan.”

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

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

National Connectivity

Another solid rumour to be established is Kalifa’s recommendation to write ten fintech’ Clusters’, or maybe regional hubs, to ensure local fintechs are offered the support to develop and expand.

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

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

While other areas of the UK were categorised as emerging or specialist clusters, including Bath and Bristol, Newcastle and Durham, 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 endeavor to focus on their specialities, while simultaneously enhancing the channels of interaction between the various other hubs.

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