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

Fintech News Canada: Prodigy  as well as FinConecta team up to  speed up the  circulation of Fintech  solutions in Canada, the  USA  as well as around the world

Prodigy Ventures Inc. (TSXV: PGV) ( Prodigy or the  Firm) today  introduced it  has actually signed a  brand-new  Partnership  Contract with FinConecta (AANDB  Technology, Inc.), a  worldwide  modern technology  firm dedicated to  increasing digitization of finance  and also open banking.

Under the  regards to the agreement Prodigy  will certainly provide consulting, integration and managed  solutions to  allow the  fast deployment of FinConecta‘s  advanced API (Application Programing  User interface) based  system.  With each other, Prodigy  as well as FinConecta  will certainly  function to  speed up digital  change  as well as  Open up Banking,  assisting in  brand-new use  situations  as well as  organization opportunities for all current  as well as future players in the  monetary industry.

 Our  objective at Prodigy is to  supply Fintech  advancement, said Tom Beckerman, Prodigy‘s Chairman and CEO. We are  delighted to partner with FinConecta,  and also  take advantage of their world-leading  system. We know that there is  wonderful demand at our  banks and leading  ventures to deliver  ingenious Fintech  remedies to their  clients. This Alliance is purpose built to deliver  on that particular promise.

Jorge Ruiz, FinConecta‘s Founder and CEO commented, Our best-of-breed  system,  incorporated with Prodigy‘s proven  document of rapid  advancement  as well as  solution  distribution to  huge  banks and  business,  will certainly be a breakthrough in the Fintech  room.  With each other, our Alliance  will certainly deliver simple, fast, efficient  as well as scalable solutions that transform  economic services  and also ecommerce.

Prodigy  as well as FinConecta‘s  Partnership will enable financial institutions to  increase their  trip  in the direction of testing  options  as well as running proof of  ideas to monetizing APIs  as well as  introducing new offerings  much faster. FinConecta‘s middleware  additionally offers a  directory of curated Fintech  business that  offer  electronic  solutions to  banks on a SaaS model and the ability to  gain access to  numerous solutions through a  solitary  combination, 10 times  quicker.

For Fintechs  currently  running in Canada  and also the United States of America or  happy to do so, this Alliance offers  international  direct exposure to potential  customers, a  thorough sandbox to test  items, and a  solitary  combination through normalized APIs, giving them  accessibility to core  financial systems without  needing to integrate with them  separately.

 Regarding Prodigy Ventures Inc – Fintech News Canada

. Prodigy  supplies Fintech  development. The Company  gives leading  side platforms, including IDVerifact  for digital  identification,  and also  brand-new Fintech platforms for open banking  as well as payments. Our  solutions  company, Prodigy Labs ,  incorporates  and also  personalizes our  systems for  distinct  venture customer requirements,  and also  gives  innovation  solutions for  electronic  identification,  settlements, open  financial and  electronic  makeover. Digital transformation  solutions  consist of  technique, architecture,  style,  job  monitoring,  dexterous  advancement,  top quality engineering  as well as staff augmentation. Prodigy  has actually been  acknowledged as one of Canada‘s fastest  expanding  firms with  numerous awards: Deloitte‘s Fast 50 Canada  and also  Quick 500 North America (2016, 2017, 2018), Branham 300 (2017, 2018), Growth List (2018, 2019  as well as 2020), Canada‘s  Leading Growing  Firms (2019  as well as 2020).

 Concerning FinConecta 

– Fintech News Canada

FinConecta is a global technology  firm  committed to  increasing digitization of finance and open  financial.  Established in 2016, headquartered in Miami,  as well as with  procedures in multiple countries  all over the world, FinConecta is a FDX  Participant  as well as AWS Advanced Partner.  Discover more at Fintech News Canada.

Fintech news around the globe

Fintech news around the  earth


Fintech News Philippines

 Previously this week, Philippines-based Netbank, a  financial as a service (BaaS)  system, went live in the Southeast  Eastern country.

Netbank has  supposedly been developed by an experienced team of  global  and also  neighborhood  financial  experts. Like the country‘s  electronic bank Tonik, Netbank is a fully  controlled banking  establishment that will be operating under a  country banking  license.

The Netbank platform is currently in operation. The  financial institution is booking  financings that are  stemmed by  3 different  alternate lenders. It  has actually  likewise  applied the  framework  needed to  supply a comprehensive  series of banking  options, using Amazon Web  Solutions (AWS) to operate its core  financial system.

Netbank  claims that it  intends to offer  basic,  innovative,  budget friendly services  to make sure that Fintechs in the Philippines are able to easily  open up  brand-new accounts,  give  car loans  and also  look after their  repayments.

Netbank confirmed that it  will certainly introducing a  wide variety of tools for compliance,  scams  monitoring, API services, and other financial applications.

Netbank  included that they are a member of PesoNet  and also Instapay. The bank also  kept in mind that the  assistance  supplied by Bangko Sentral ng Pilipinas (BSP), the nation‘s  reserve bank,  has actually been  fairly  practical,  specifically when  formally launching its neobanking  system.

Fintech News Canada

Canadian fintech  business Ratehub Inc.  has actually  introduced a property/casualty (P/C)  broker agent called RH Insurance.

Toronto-based Ratehub, which  runs the financial product  contrast site,  stated the launch brings the  business one step  more detailed towards  attaining its goal of being Canada‘s go-to source for digital  individual  money  items across  insurance coverage, mortgages,  bank card,  spending and banking products.

Fintech News Malaysia

The Fintech Association of Malaysia (FAOM), a key enabler  as well as  nationwide platform for the  assistance of Malaysia‘s  trip to  ending up being a leading  center for Financial  Innovation (Fintech)  development  and also  financial investment in the  area  organized its fourth Annual Grand Meeting (AGM) which was held virtually on 30 April 2021.
The AGM was  participated in by its outgoing  board  participants from the 2019/2020 term and  agents from  well-regarded member organisations. The AGM was convened with the purpose of  assessing the progress achieved by the  Organization  so far, the Covid-19  associated  difficulties  encountered by the industry, strategising the  method  onward for the  additional  advancement of Malaysia‘s fintech  sector  and also most  notably, announcing the new line-up of committee  participants who will be helming FAOM for the 2020/2021 term.

Fintech News Australia

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

According to an  main  statement, the recent  financing round was led by Acorn  Resources, Artesian, Commencer Capital and Mastercard. In addition, the  business is  intending to introduce new  attributes to compete with other  repayment platforms in the country.

Fintech News Switzerland

Switzerland-based Fintech firm neon  has actually  safeguarded 7 million CHF (appr. $7.78 million) from existing  financiers  as well as  has actually also  released a crowdfunding round for clients.

The neon team notes:

  Extreme  costs,  stringent 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  day-to-day finances. No base fees,  complimentary Mastercard. Super  easy. All on your  mobile phone. 100% independent.

 Financiers in neon‘s investment round  apparently  consist of the TX  Team,  Foundation Ventures, QoQa  Providers SA, the Helvetia  Endeavor Fund, the Schwyzer Kantonalbank‘s  technology  structure,  in addition to  personal  financiers.

With 70,000  customers currently  aboard, neon is  presenting equity crowdinvesting with tokenized non-voting shares which will  supposedly be kept in a  individual  pocketbook. The Swiss  electronic  possession  system Sygnum  Financial institution is  acting as the tokenization partner. As previously reported, Sygnum  Financial institution, a  accredited crypto-asset bank,  has actually been founded on Swiss and Singapore heritage  as well as  runs  internationally.

Fintech News UK

Financial technology firm Wise said Tuesday that users in India  would certainly now be able to send money abroad to 44 countries  worldwide.

That includes  locations like Singapore, the U.K., the United States, the United Arab Emirates  along with countries in the euro  area.

India‘s  external remittances in the   2019-2020 was around $18.75 billion, with more than 60% of it  classified under travel and paying for  researching abroad, according to data from the Reserve Bank of India. Under a liberalized  compensation  system, the central bank  enables  locals to  openly send up to $250,000 abroad to fund  individual  expenditures or  education and learning per financial year which begins in April and ends in March the  list below year.

Fintech News in India

Jai Kisan, an Indian startup that is  trying to bring  economic  solutions to  country India, where commercial banks have a single-digit  infiltration,  claimed on Monday it  has actually  increased $30 million in a  brand-new  funding round as it  aims to scale its  company.

 Thousands of  countless people in India today  stay in  backwoods.  A lot of them  do not have a credit score. The  occupations they work on  mostly farming aren’t considered a  company by most  lending institutions in India. These farmers  and also other professionals also  do not  have actually a documented  credit rating, which puts them in a  high-risk category for banks to  provide them a  lending.

Fintech News Singapore

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

The neon team notes:

  Extreme  charges,  stringent opening times,  excessive  administration  and also complicated apps. To us, it was clear: it can’t  take place like that. That‘s why we built neon. neon is your  deal  represent your  day-to-day  financial resources. No base  charges,  cost-free Mastercard. Super  basic. All on your smartphone. 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,  along with  exclusive  financiers.

With 70,000 clients currently  aboard, neon is introducing equity crowdinvesting with tokenized non-voting shares which will reportedly be kept in a  individual  purse. The Swiss digital  possession  system Sygnum  Financial institution is  working as the tokenization partner. As  formerly reported, Sygnum Bank, a  qualified crypto-asset bank, has been founded on Swiss and Singapore heritage  and also operates globally.

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

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

The government has been urged to build a high-profile taskforce to lead development 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 get together senior figures from throughout government and regulators to co-ordinate policy and remove blockages.

The suggestion is a component of an article by Ron Kalifa, former supervisor of the payments processor Worldpay, which was asked by the Treasury found July to think of ways to make the UK 1 of the world’s leading fintech centres.

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

Kalifa’s Fintech Review finally 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 assessment into the fintech sector as well as, for probably the most part, it looks like most were position on.

According to FintechZoom, the report’s publication arrives close to a year to the day time that Rishi Sunak first guaranteed the review in his first budget as Chancellor on the Exchequer in May last year.

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

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

Regulation and policy

In a move that must be music to fintech’s ears, Kalifa has suggested developing and adopting typical data requirements, which means that incumbent banks’ slow legacy methods just simply won’t be enough to get by anymore.

Kalifa has also recommended prioritising Smart Data, with a certain focus on amenable banking and also opening upwards more routes of correspondence between open banking-friendly fintechs and bigger financial institutions.

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

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

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

Watching the success belonging to the FCA’ regulatory sandbox, Kalifa has also suggested a’ scalebox’ which will assist fintech firms to develop and grow their operations without the fear of choosing to be on the wrong side of the regulator.


In order to bring the UK workforce up to speed with fintech, Kalifa has recommended retraining employees to cover the expanding needs of the fintech segment, proposing a sequence of low-cost education programs to do it.

Another rumoured accessory to have been included in the article is actually an innovative visa route to make sure high tech talent isn’t place off by Brexit, promising the UK is still a best international competitor.

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


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

The report suggests that this UK’s pension growing pots may just be a great tool for fintech’s funding, with Kalifa mentioning the £6 trillion currently sat in private pension schemes inside the UK.

According to the report, a small slice of this container of cash can be “diverted to high growth technology opportunities like fintech.”

Kalifa in addition has advised expanding R&D tax credits because of the popularity of theirs, with ninety seven per cent of founders having used tax-incentivised investment schemes.

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

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

Under the recommendations laid out in the review, free float needs will likely be reduced, meaning companies don’t have to issue not less than twenty five per cent of their shares to the general population at virtually any one time, rather they’ll just have to give ten per cent.

The evaluation also suggests using dual share structures which are a lot more favourable to entrepreneurs, indicating they will be able to maintain control in their companies.


to be able to make sure the UK is still a top international fintech destination, the Kalifa assessment has recommended revising the present Fintech News  –  “Fintech International Action Plan.”

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

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

National Connectivity

Another solid rumour to be confirmed is Kalifa’s recommendation to create ten fintech’ Clusters’, or perhaps regional hubs, to ensure local fintechs are given the assistance to grow and grow.

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

After London, there are 3 large as well as established clusters in which Kalifa recommends hubs are actually proven, the Pennines (Leeds and Manchester), Scotland, with specific resource to the Edinburgh/Glasgow corridor, along with Birmingham – Fintech News .

While other aspects of the UK were categorised as emerging or maybe specialist clusters, like Bristol and Bath, 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 endeavor to focus on their specialities, while also enhancing the channels of interaction between the various other hubs.

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