Fintech News Canada: Prodigy and FinConecta  collaborate to  speed up the distribution of Fintech  solutions in Canada

Fintech News Canada: Prodigy and FinConecta team up to accelerate the distribution of Fintech  solutions in Canada, the United States and  worldwide

Prodigy Ventures Inc. (TSXV: PGV) ( Prodigy or the  Business) today announced it  has actually signed a new Alliance Agreement with FinConecta (AANDB  Technology, Inc.), a  worldwide  modern technology  business dedicated to accelerating digitization of finance  as well as open banking.

Under the  regards to the agreement Prodigy will provide consulting, integration and  handled  solutions to  allow the rapid  release of FinConecta‘s  advanced API (Application Programing Interface) based platform. Together, Prodigy and FinConecta  will certainly work to  increase digital transformation  as well as Open Banking,  promoting new  usage cases and business opportunities for all  present  as well as future  gamers in the  monetary  market.

 Our  objective at Prodigy is to  provide Fintech innovation,  claimed Tom Beckerman, Prodigy‘s Chairman  and also  Chief Executive Officer. We are excited to partner with FinConecta, and  utilize their world-leading platform. We know that there is great demand at our financial institutions  and also leading enterprises to  supply  ingenious Fintech  options to their  clients. This  Partnership is  function built to  provide  on that particular  guarantee.

Jorge Ruiz, FinConecta‘s  Creator and  Chief Executive Officer commented, Our best-of-breed platform,  incorporated with Prodigy‘s proven  document of  quick  development  and also service delivery to large  banks  and also  ventures,  will certainly be a  development in the Fintech space.  With each other, our  Partnership will  supply simple,  quickly,  effective  and also scalable  services that transform  economic services  and also ecommerce.

Prodigy and FinConecta‘s Alliance will  make it possible for financial institutions to accelerate their  trip towards testing  services  as well as running  evidence of  principles to  generating income from APIs and  introducing new offerings  much faster. FinConecta‘s middleware  additionally offers a  directory of curated Fintech companies that provide  electronic  solutions to  banks on a SaaS model  as well as the  capability to  accessibility multiple  remedies  via a  solitary integration, 10 times  much faster.

For Fintechs already  running in Canada and the United States of America or  happy to do so, this  Partnership  uses  international  direct exposure to  possible  customers, a  extensive sandbox to  examination products, and a single  assimilation  via  stabilized APIs,  providing  accessibility to core  financial systems without having to  incorporate with them  independently.

About Prodigy Ventures Inc – Fintech News Canada

. Prodigy  supplies Fintech  development. The  Business  supplies leading edge platforms,  consisting of IDVerifact  for digital  identification,  and also new Fintech  systems for open banking  as well as  repayments. Our  solutions business, Prodigy Labs , integrates  as well as  personalizes our  systems for  distinct  business customer requirements, and  supplies  modern technology  solutions for  electronic identity,  settlements, open banking  and also digital  change. Digital  change services include strategy,  design, design, project  administration,  active  growth, quality engineering and staff augmentation. Prodigy  has actually been  acknowledged as one of Canada‘s fastest growing  firms with  several  honors: Deloitte‘s  Quick 50 Canada  and also  Quick 500 North America (2016, 2017, 2018), Branham 300 (2017, 2018), Growth  Listing (2018, 2019 and 2020), Canada‘s Top Growing  Firms (2019  and also 2020).

About FinConecta 

– Fintech News Canada

FinConecta is a  international  modern technology company  devoted to  speeding up digitization of finance  and also open banking. Founded in 2016, headquartered in Miami,  as well as with operations in multiple countries  all over the world, FinConecta is a FDX Member  and also AWS Advanced Partner.  Discover more at Fintech News Canada.


Fintech news around the globe

Fintech news around the  world


Fintech News Philippines

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

Netbank  has actually  supposedly been developed by an  seasoned team of  worldwide  as well as  regional banking  experts. Like the  nation‘s  electronic bank Tonik, Netbank is a  completely  managed banking  establishment that  will certainly be operating under a  country banking permit.

The Netbank platform is currently in operation. The bank is  scheduling  finances that are originated by  3 different  alternate lenders. It  has actually  likewise  applied the  framework  called for to  provide a  detailed  series of  financial solutions,  utilizing  Internet Services (AWS) to operate its core banking system.

Netbank  states that it  intends to offer  easy, creative,  economical services  to make sure that Fintechs in the Philippines are able to  quickly open  brand-new accounts,  supply  financings and  deal with their  settlements.

Netbank  validated that it will  presenting a  large range of  devices for compliance, fraud  monitoring, API  solutions,  as well as other  economic applications.

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

Fintech News Canada

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

Toronto-based Ratehub, which  runs the  monetary product comparison site,  claimed the launch brings the  business one step  more detailed towards  accomplishing its goal of being Canada‘s go-to  resource for digital  individual finance products across insurance, mortgages, credit cards, investing and banking  items.

Fintech News Malaysia

The Fintech  Organization of Malaysia (FAOM), a  essential enabler  and also  nationwide  system for the facilitation of Malaysia‘s journey to  coming to be a leading hub for Financial  Modern technology (Fintech)  technology  and also  financial investment in the  area  organized its fourth  Yearly Grand  Fulfilling (AGM) which was held  essentially on 30 April 2021.
The AGM was attended by its outgoing committee  participants from the 2019/2020 term and representatives from esteemed  participant organisations. The AGM was  assembled with the  function of reviewing the  development  accomplished by the Association  so far, the Covid-19 related challenges  dealt with by the  sector, strategising the  method forward for the  more development of Malaysia‘s fintech  sector  as well as most  notably, announcing the new line-up of  board members  that will be helming FAOM for the 2020/2021 term.

Fintech News Australia

Australia‘s fintech startup, mx51  revealed that the company has secured $25 million in the  Collection A funding round to accelerate its  development.

According to an  main  statement, the  current  financing round was led by Acorn  Resources, Artesian, Commencer Capital  and also Mastercard.  Furthermore, the company is planning to  present  brand-new  attributes to  take on  various other  settlement platforms in the  nation.

Fintech News Switzerland

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

The neon team notes:

  Too much  costs, inflexible opening times,  excessive  administration  and also  challenging  applications. To us, it was clear: it can’t  take place like that. That‘s why we  constructed neon. neon is your  deal account for your  day-to-day  financial resources. No base  costs,  totally free Mastercard. Super  easy. All on your smartphone. 100% independent.

 Financiers in neon‘s  financial investment round  supposedly include the TX Group, BackBone Ventures, QoQa  Providers SA, the Helvetia Venture Fund, the Schwyzer Kantonalbank‘s  advancement foundation,  along with  personal  capitalists.

With 70,000  customers  presently on board, neon is  presenting equity crowdinvesting with tokenized non-voting shares which will reportedly be kept in a  individual  budget. The Swiss digital  property  system Sygnum  Financial institution is  functioning as the tokenization partner. As  formerly reported, Sygnum Bank, a  accredited crypto-asset  financial institution, has been founded on Swiss  and also Singapore heritage and  runs  internationally.

Fintech News UK

Financial  innovation firm Wise  claimed Tuesday that users in India would  currently  have the ability to  send out money abroad to 44 countries around the world.

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

India‘s  external remittances in the   2019-2020 was around $18.75 billion, with  greater than 60% of it  classified under  traveling  as well as paying for studying abroad, according to data from the Reserve Bank of India. Under a liberalized  compensation  system, the  reserve bank  enables  citizens to  openly send up to $250,000 abroad to  money personal  costs or  education and learning per financial year which begins in April  and also ends in March the  list below year.

Fintech News in India

Jai Kisan, an Indian  start-up that is attempting to bring  monetary  solutions to  country India, where  industrial  financial institutions have a single-digit  infiltration,  claimed on Monday it  has actually  increased $30 million in a new  funding round as it  wants to scale its  service.

Hundreds of  countless  individuals in India today live in rural areas. Most of them don’t have a  credit rating. The  occupations they  service  mostly farming aren’t considered a  company by  many  loan providers in India. These farmers  and also  various other professionals also  do not  have actually a documented  credit report, which puts them in a  dangerous  classification for banks to  give them a  finance.

Fintech News Singapore

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

The neon team notes:

 Excessive fees, inflexible opening times, too much bureaucracy  as well as  difficult apps. To us, it was clear: it can’t go on like that. That‘s why we built neon. neon is your  deal  make up your  day-to-day  financial resources. No base fees,  totally free Mastercard. Super  easy. All on your smartphone. 100% independent.

 Capitalists in neon‘s  financial investment round  apparently include the TX Group,  Foundation Ventures, QoQa  Providers SA, the Helvetia Venture Fund, the Schwyzer Kantonalbank‘s  technology  structure,  along with private  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  budget. The Swiss digital asset  system Sygnum Bank is serving as the tokenization  companion. As previously reported, Sygnum Bank, a  qualified crypto-asset bank, has been founded on Swiss and Singapore heritage  as well as  runs  internationally.


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

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

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

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

The suggestion is actually part of an article by Ron Kalifa, former boss on the payments processor Worldpay, which was asked by way of the Treasury in July to come up with ways to make the UK one of the world’s leading fintech centres.

“Fintech is not a niche market within financial services,” alleges 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 are actually swirling about what might 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 will come close to a year to the morning that Rishi Sunak originally said the review in his 1st budget as Chancellor of this Exchequer in May last season.

Ron Kalifa OBE, a non executive director with the Court of Directors on the Bank of England and also the vice chairman of WorldPay, was selected by Sunak to head upwards the deep jump into fintech.

Here are the reports 5 important recommendations 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 common details requirements, which means that incumbent banks’ slower legacy systems just simply will not be sufficient to get by anymore.

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

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

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

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

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


So as to get the UK workforce up to date with fintech, Kalifa has recommended retraining employees to cover the expanding requirements of the fintech segment, proposing a sequence of inexpensive education programs to do it.

Another rumoured addition to have been integrated in the report is an innovative visa route to make sure top tech talent is not place off by Brexit, guaranteeing the UK is still a leading international competitor.

Kalifa indicates a’ Fintech Scaleup Stream’ that will provide those with the required skills automatic visa qualification as well as offer guidance for the fintechs selecting top tech talent abroad.


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

The report indicates that the UK’s pension growing pots may just be a fantastic tool for fintech’s financial support, with Kalifa mentioning the £6 trillion currently sat within private pension schemes within the UK.

According to the report, a tiny slice of this particular cooking pot of money could be “diverted to high development technology opportunities like fintech.”

Kalifa in addition has suggested expanding R&D tax credits because of their popularity, with 97 per dollar of founders having used tax incentivised investment schemes.

Despite the UK becoming a home to several of the world’s most productive fintechs, very few have picked to list on the London Stock Exchange, in fact, the LSE has noticed a 45 per cent decrease in the selection of companies that are listed on its platform since 1997. The Kalifa examination sets out measures to change that as well as makes some recommendations that appear to pre empt the upcoming Treasury-backed review directly into listings led by Lord Hill.

The Kalifa report reads: “IPOs are actually thriving worldwide, driven in portion by tech organizations that will have become essential to both consumers and companies in search of digital tools amid the coronavirus pandemic and it’s crucial that the UK seizes this particular opportunity.”

Under the suggestions laid out in the review, free float requirements will likely be reduced, meaning companies don’t have to issue at least 25 per cent of their shares to the general public at virtually any one time, rather they will just have to offer 10 per cent.

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


To make sure the UK remains a best international fintech destination, the Kalifa assessment has suggested 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 info for localized regulators, case studies of previous success stories as well as details about the support and grants readily available to international companies.

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

National Connectivity

Another solid rumour to be confirmed is actually Kalifa’s recommendation to craft ten fintech’ Clusters’, or regional hubs, to guarantee local fintechs are actually given the assistance to grow and expand.

Unsurprisingly, London is actually the only super hub on the summary, meaning Kalifa categorises it as a global leader in fintech.

After London, there are 3 big as well as established clusters in which Kalifa recommends hubs are demonstrated, the Pennines (Leeds and Manchester), Scotland, with particular reference to the Edinburgh/Glasgow corridor, along with Birmingham – Fintech News .

While other facets of the UK have been categorised as emerging or maybe specialist clusters, like Bristol and Bath, 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 effort to focus on the specialities of theirs, while also enhancing the channels of communication between the various other hubs.

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