Fintech News Canada: Prodigy  as well as FinConecta  collaborate to  increase the distribution of Fintech  solutions in Canada

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

Prodigy Ventures Inc. (TSXV: PGV) ( Prodigy or the  Firm) today  revealed it has signed a  brand-new  Partnership  Arrangement with FinConecta (AANDB Tech, Inc.), a  worldwide  modern technology  business  devoted to  speeding up digitization of finance  and also open banking.

Under the  regards to the  arrangement Prodigy will provide consulting, integration and managed services to enable the  quick deployment of FinConecta‘s  advanced API (Application Programing Interface) based platform.  With each other, Prodigy  and also FinConecta will work to  increase digital  change  and also Open Banking, facilitating  brand-new use  instances  and also  organization  chances for all current  and also future players in the  economic industry.

 Our  goal at Prodigy is to  provide Fintech  development,  claimed Tom Beckerman, Prodigy‘s Chairman and  Chief Executive Officer. We are  thrilled to partner with FinConecta, and leverage their world-leading  system.  We understand that there is  excellent  need at our  banks  as well as leading  ventures to deliver  ingenious Fintech  remedies to their  consumers. This  Partnership is  objective  constructed to deliver on that  pledge.

Jorge Ruiz, FinConecta‘s Founder and CEO commented, Our best-of-breed  system,  incorporated with Prodigy‘s  tried and tested  document of  fast  advancement  as well as  solution  shipment to large financial institutions and enterprises, will be a  innovation in the Fintech space. Together, our  Partnership will  supply simple, fast,  effective  and also scalable  options that  change  economic services  as well as ecommerce.

Prodigy  as well as FinConecta‘s Alliance will  allow  banks to  increase their journey towards  screening  remedies and running  evidence of  principles to monetizing APIs  as well as  releasing new offerings  much faster. FinConecta‘s middleware  likewise  uses a  brochure of curated Fintech companies that  give digital  solutions to  banks on a SaaS  version  and also the  capacity to  accessibility  several  services through a single  assimilation, 10 times  quicker.

For Fintechs already  running in Canada  and also the United States of America or  ready to do so, this Alliance  supplies global exposure to potential  customers, a comprehensive sandbox to test  items, and a single  combination through  stabilized APIs, giving them  accessibility to core banking systems without having to  incorporate with them  separately.

 Regarding Prodigy Ventures Inc – Fintech News Canada

. Prodigy  supplies Fintech  development. The  Business  offers leading edge platforms,  consisting of IDVerifact  for  electronic  identification,  as well as new Fintech platforms for open  financial and payments. Our services business, Prodigy Labs ,  incorporates  and also  tailors our  systems for  distinct enterprise customer  needs,  and also provides technology services for  electronic identity, payments, open banking  and also digital  makeover. Digital transformation services include  method,  design,  layout,  job  monitoring,  nimble  advancement,  top quality engineering and staff  enhancement. Prodigy  has actually been recognized as one of Canada‘s fastest growing companies with multiple awards: Deloitte‘s Fast 50 Canada  and also  Quick 500 North America (2016, 2017, 2018), Branham 300 (2017, 2018), Growth List (2018, 2019 and 2020), Canada‘s  Leading  Expanding Companies (2019 and 2020).

 Concerning FinConecta 

– Fintech News Canada

FinConecta is a global technology company  committed to  increasing digitization of finance and open banking.  Established in 2016, headquartered in Miami, and with  procedures in multiple countries  worldwide, FinConecta is a FDX Member  and also AWS Advanced Partner. Learn more at Fintech News Canada.


Fintech news around the earth

Fintech news around the  world


Fintech News Philippines

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

Netbank  has actually  supposedly been  established by an  knowledgeable team of international and  regional banking  experts. Like the  nation‘s digital bank Tonik, Netbank is a  totally  controlled  financial  establishment that will be operating under a rural  financial  authorization.

The Netbank platform is currently in operation. The  financial institution is booking loans that are originated by three  various alternative  lending institutions. It has  additionally  executed the  facilities  called for to offer a comprehensive  variety of  financial solutions,  utilizing Web  Solutions (AWS) to  run its core  financial system.

Netbank  states that it aims to  supply simple,  imaginative,  inexpensive  solutions so that Fintechs in the Philippines  have the ability to  conveniently open new accounts, provide  finances and  look after their  repayments.

Netbank  verified that it will  presenting a  wide variety of tools for compliance, fraud management, API  solutions,  as well as  various other  economic applications.

Netbank added that they  belong to PesoNet and Instapay. The bank  likewise  kept in mind that the  assistance offered by Bangko Sentral ng Pilipinas (BSP), the  country‘s central bank,  has actually been  rather  practical,  particularly when  formally  introducing its neobanking platform.

Fintech News Canada

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

Toronto-based Ratehub, which operates the  monetary product  contrast site,  claimed the launch brings the  firm one  action  better towards  attaining its  objective of being Canada‘s  best  resource for  electronic  individual finance products  throughout  insurance coverage, mortgages,  bank card, investing and banking  items.

Fintech News Malaysia

The Fintech Association of Malaysia (FAOM), a  essential enabler  as well as  nationwide platform for the facilitation of Malaysia‘s journey to  ending up being a leading  center for Financial  Innovation (Fintech) innovation and  financial investment in the  area  organized its fourth  Yearly Grand Meeting (AGM) which was held  practically on 30 April 2021.
The AGM was  participated in by its  outward bound committee members from the 2019/2020 term  as well as representatives from  renowned member organisations. The AGM was convened with the  objective of  assessing the  development  accomplished by the Association  so far, the Covid-19  associated challenges  dealt with by the industry, strategising the way  onward for the further  growth of Malaysia‘s fintech  market  and also most  significantly, announcing the new line-up of  board  participants who will 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  Collection A funding round to  increase its  growth.

According to an official announcement, the  current funding round was led by Acorn  Resources, Artesian, Commencer  Funding and Mastercard.  Additionally, the  business is  preparing to introduce new  attributes to  take on other payment  systems in the  nation.

Fintech News Switzerland

Switzerland-based Fintech  company neon  has actually secured 7 million CHF (appr. $7.78 million) from existing  financiers  as well as has  additionally  released a crowdfunding round for  customers.

The neon team notes:

  Too much fees, inflexible opening times,  excessive  administration and  difficult apps. To us, it was clear: it can’t  take place like that. That‘s why we  constructed neon. neon is your  deal  make up your everyday  financial resources. No base  charges, free Mastercard. Super  straightforward. All on your smartphone. 100% independent.

 Capitalists in neon‘s investment round  apparently  consist of the TX  Team, BackBone Ventures, QoQa  Solutions SA, the Helvetia Venture Fund, the Schwyzer Kantonalbank‘s  development  structure, as well as  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 personal  purse. The Swiss  electronic  property platform Sygnum  Financial institution is  acting as the tokenization  companion. As previously reported, Sygnum Bank, a  accredited crypto-asset bank, has been founded on Swiss  and also Singapore heritage  as well as  runs  around the world.

Fintech News UK

Financial  innovation  company Wise  stated Tuesday that  individuals in India  would certainly  currently be able to  send out money abroad to 44 countries around the world.

That includes places like Singapore, the U.K., the  USA, the United Arab Emirates  in addition to  nations in the euro zone.

India‘s  outside remittances in the fiscal year 2019-2020 was around $18.75 billion, with more than 60% of it categorized under travel  as well as  spending for studying abroad, according to data from the Reserve Bank of India. Under a liberalized remittance scheme, the  reserve bank allows residents to freely send up to $250,000 abroad to fund  individual expenses or education per  fiscal year which begins in April and  finishes in March the following year.

Fintech News in India

Jai Kisan, an Indian startup that is attempting to bring  monetary services to  country India, where  business banks have a single-digit penetration, said on Monday it has  elevated $30 million in a new  funding round as it  seeks to scale its  organization.

 Thousands of  numerous people in India today  reside in  backwoods.  The majority of them don’t have a credit score. The professions they  work with largely farming aren’t  taken into consideration a  company by most  loan providers in India. These farmers and  various other  experts also  do not  have actually a  recorded  credit report, which puts them in a  dangerous  classification for  financial institutions to  give them a  car loan.

Fintech News Singapore

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

The neon team notes:

  Extreme  charges,  stringent opening times, too much bureaucracy  and also  complex apps. To us, it was clear: it  can not go on like that. That‘s why we built neon. neon is your  purchase account for your  daily finances. No base  charges, free Mastercard. Super  basic. All on your smartphone. 100% independent.

Investors in neon‘s  financial investment round  supposedly include the TX  Team, BackBone Ventures, QoQa  Providers SA, the Helvetia  Endeavor Fund, the Schwyzer Kantonalbank‘s innovation  structure,  along with  exclusive  financiers.

With 70,000  customers currently  aboard, neon is  presenting equity crowdinvesting with tokenized non-voting shares which will reportedly be kept in a  individual wallet. The Swiss  electronic  possession platform Sygnum Bank is  functioning as the tokenization partner. As previously reported, Sygnum  Financial institution, a  certified crypto-asset bank, has been founded on Swiss and Singapore heritage and  runs  worldwide.


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

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

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

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

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

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

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

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

According to FintechZoom, the report’s publication arrives nearly a season 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 of the Court of Directors on the Bank of England and the vice chairman of WorldPay, was selected by Sunak to head upwards the significant jump into fintech.

Allow me to share 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 proposed developing and adopting typical details standards, meaning that incumbent banks’ slower legacy methods just simply will not be sufficient to get by anymore.

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

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

As a direct result of their increasing popularity, Kalifa has additionally advised tighter regulation for cryptocurrencies and also he’s also solidified the determination to meeting ESG objectives.

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

Watching the success belonging to the FCA’ regulatory sandbox, Kalifa has also recommended a’ scalebox’ that will help fintech companies to grow and grow their businesses without the fear of being on the wrong side of the regulator.


In order to bring the UK workforce up to date with fintech, Kalifa has suggested retraining employees to satisfy the expanding requirements of the fintech segment, proposing a set of inexpensive training courses to accomplish that.

Another rumoured accessory to have been incorporated in the article is a new visa route to ensure high tech talent is not put off by Brexit, assuring the UK continues to be a best international competitor.

Kalifa suggests a’ Fintech Scaleup Stream’ which will supply those with the necessary skills automatic visa qualification as well as offer assistance for the fintechs choosing top tech talent abroad.


As earlier suspected, Kalifa implies the federal government create a £1bn Fintech Growth Fund to help homegrown firms scale and expand.

The report indicates that the UK’s pension growing pots might be a fantastic source for fintech’s financial support, with Kalifa mentioning the £6 trillion currently sat inside private pension schemes in the UK.

Based on the report, a small slice of this cooking pot of money can be “diverted to high growth technology opportunities as fintech.”

Kalifa has also suggested expanding R&D tax credits thanks to 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 successful fintechs, few have selected to mailing list on the London Stock Exchange, in truth, the LSE has seen a 45 per cent reduction in the number of listed companies on its platform after 1997. The Kalifa examination sets out steps to change that and also makes several recommendations which appear to pre-empt the upcoming Treasury backed review straight into listings led by Lord Hill.

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

Under the strategies laid out in the review, free float needs will be reduced, meaning businesses no longer have to issue not less than twenty five per cent of their shares to the public at almost any one time, rather they will simply have to provide ten per cent.

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


to be able to ensure the UK remains a best international fintech desired 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 scene, contact information for localized regulators, case scientific studies of previous success stories as well as details about the help and support and grants available to international companies.

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

National Connectivity

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

Unsurprisingly, London is the only great hub on the summary, indicating Kalifa categorises it as a global leader in fintech.

After London, there are 3 large as well as established clusters wherein Kalifa suggests hubs are demonstrated, the Pennines (Leeds and Manchester), Scotland, with particular resource to the Edinburgh/Glasgow corridor, along with Birmingham – Fintech News .

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

The Kalifa review suggests nurturing the top ten regions, making an attempt to concentrate on their specialities, while simultaneously enhancing the channels of interaction between the various other hubs.

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