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

Fintech News Canada: Prodigy  as well as FinConecta  collaborate to accelerate the distribution of Fintech  solutions in Canada, the  USA and  around the globe

Prodigy Ventures Inc. (TSXV: PGV) ( Prodigy or the  Business) today  introduced it has signed a  brand-new  Partnership  Contract with FinConecta (AANDB  Technology, Inc.), a global  modern technology company dedicated to accelerating digitization of  financing and open banking.

Under the  regards to the agreement Prodigy will provide consulting,  assimilation  as well as  handled  solutions to  make it possible for the rapid deployment of FinConecta‘s  advanced API (Application Programing Interface) based platform. Together, Prodigy and FinConecta  will certainly  function to accelerate  electronic  improvement  and also  Open up Banking, facilitating  brand-new use cases and  company  chances for all current and future  gamers in the  monetary  market.

 Our mission at Prodigy is to  provide Fintech  technology,  claimed Tom Beckerman, Prodigy‘s Chairman and  Chief Executive Officer. We are excited to partner with FinConecta, and leverage their world-leading  system. We know that there is  excellent demand at our  banks and leading  business to  supply innovative Fintech  remedies to their customers. This  Partnership is purpose built to  provide  on that particular  pledge.

Jorge Ruiz, FinConecta‘s  Owner  as well as CEO commented, Our best-of-breed platform, combined with Prodigy‘s proven record of rapid  advancement  as well as service  shipment to large financial institutions  and also  business, will be a  advancement in the Fintech  room.  With each other, our Alliance  will certainly  supply  straightforward,  quickly,  effective  and also scalable  services that transform  monetary services and ecommerce.

Prodigy and FinConecta‘s Alliance will  make it possible for  banks to accelerate their  trip  in the direction of  screening  services and running  evidence of  principles to  generating income from APIs  as well as  releasing new offerings  much faster. FinConecta‘s middleware  likewise  uses a  directory of curated Fintech  business that  offer  electronic services to financial institutions on a SaaS  design and the ability to  gain access to  several  options through a  solitary integration, 10 times faster.

For Fintechs  currently operating in Canada  and also the United States of America or  happy to do so, this Alliance  supplies global  direct exposure to  prospective clients, a  thorough sandbox to test  items,  and also a  solitary integration  via normalized APIs, giving them  accessibility to core  financial systems without  needing to  incorporate with them individually.

About Prodigy Ventures Inc – Fintech News Canada

. Prodigy delivers Fintech  technology. The Company  gives leading  side platforms,  consisting of IDVerifact  for  electronic  identification,  and also new Fintech  systems for open banking  and also payments. Our services  company, Prodigy Labs ,  incorporates and customizes our  systems for unique  business  consumer requirements,  as well as provides technology  solutions for  electronic identity,  settlements, open banking  and also  electronic  makeover. Digital  makeover services include  technique,  design,  style, project management,  nimble development, quality  design  and also staff  enhancement. Prodigy  has actually been  identified as one of Canada‘s fastest growing  firms with  several awards: Deloitte‘s  Rapid 50 Canada  and also Fast 500 North America (2016, 2017, 2018), Branham 300 (2017, 2018),  Development  Listing (2018, 2019  and also 2020), Canada‘s Top Growing Companies (2019  and also 2020).

About FinConecta 

– Fintech News Canada

FinConecta is a  international technology company  committed to accelerating digitization of  money  as well as open banking. Founded in 2016, headquartered in Miami, and with  procedures in  numerous  nations  around the globe, FinConecta is a FDX Member  as well as AWS Advanced Partner. Learn more at Fintech News Canada.


Fintech news around the world

Fintech news around the  marketplace


Fintech News Philippines

Earlier this week, Philippines-based Netbank, a banking as a  solution (BaaS) platform, went  stay in the Southeast  Oriental country.

Netbank has  supposedly been  established by an  seasoned team of international  as well as  regional  financial  experts. Like the country‘s digital  financial institution Tonik, Netbank is a  completely  controlled  financial institution that  will certainly be operating under a rural  financial permit.

The Netbank platform is currently in operation. The bank is  reserving  lendings that are originated by three  various  alternate  lending institutions. It  has actually also  executed the  framework  needed to  use a  detailed  series of  financial  options,  making use of Amazon  Internet  Solutions (AWS) to  run its core  financial system.

Netbank  claims that it  intends to  supply  basic,  innovative,  inexpensive  solutions  to make sure that Fintechs in the Philippines  have the ability to  conveniently open new accounts,  supply  car loans  as well as  look after their  settlements.

Netbank  verified that it will introducing a wide range of  devices for  conformity,  fraudulence management, API services,  and also  various other  economic applications.

Netbank  included that they  belong to PesoNet  as well as Instapay. The bank  likewise noted that the support offered by Bangko Sentral ng Pilipinas (BSP), the  country‘s central bank,  has actually been  fairly  valuable,  particularly when  formally  releasing its neobanking  system.

Fintech News Canada

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

Toronto-based Ratehub, which  runs the  monetary  item  contrast  website,  claimed the launch brings the  firm one  action  better  in the direction of  attaining its goal of being Canada‘s  best source for  electronic personal finance  items across insurance,  home loans,  charge card, investing  and also banking products.

Fintech News Malaysia

The Fintech  Organization of Malaysia (FAOM), a key enabler  as well as  nationwide  system for the facilitation of Malaysia‘s  trip to becoming a leading  center for Financial  Innovation (Fintech)  advancement  as well as  financial investment in the  area  organized its  4th  Yearly Grand Meeting (AGM) which was held  essentially on 30 April 2021.
The AGM was  gone to by its  outbound  board members from the 2019/2020 term and  agents from  renowned  participant organisations. The AGM was  assembled with the  objective of  assessing the  development  accomplished by the Association  so far, the Covid-19  relevant  obstacles  dealt with by the  market, strategising the  means  onward for the  additional  advancement of Malaysia‘s fintech  market and most importantly,  introducing the  brand-new line-up of committee members who will be helming FAOM for the 2020/2021 term.

Fintech News Australia

Australia‘s fintech startup, mx51  introduced that the  firm has  safeguarded $25 million in the  Collection A funding round to  increase its  growth.

According to an official  news, the recent  financing round was led by Acorn  Funding, Artesian, Commencer Capital and Mastercard.  Additionally, the  business is  intending to introduce new  attributes to compete with other payment  systems in the  nation.

Fintech News Switzerland

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

The neon team notes:

 Excessive fees, inflexible opening times,  excessive bureaucracy  and also complicated apps. To us, it was clear: it can’t  take place like that. That‘s why we  developed neon. neon is your transaction account for your  daily  funds. No base  charges,  totally free Mastercard. Super simple. All on your  smart device. 100% independent.

Investors in neon‘s  financial investment round reportedly include the TX Group, BackBone Ventures, QoQa Services SA, the Helvetia  Endeavor Fund, the Schwyzer Kantonalbank‘s  development  structure,  in addition to  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 personal  pocketbook. The Swiss digital  property platform Sygnum  Financial institution is  functioning as the tokenization partner. As previously reported, Sygnum  Financial institution, a licensed crypto-asset bank, has been founded on Swiss  and also Singapore heritage and  runs  worldwide.

Fintech News UK

Financial  innovation firm Wise  stated Tuesday that  customers in India  would certainly now  have the ability to send money abroad to 44  nations  around the globe.

That includes  locations like Singapore, the U.K., the United States, the United Arab Emirates  in addition to countries in the euro zone.

India‘s  exterior remittances in the   2019-2020 was around $18.75 billion, with more than 60% of it categorized under travel  and also paying for  researching abroad, according to data from the Reserve Bank of India. Under a liberalized  compensation  plan, the  reserve bank allows  homeowners to freely send up to $250,000 abroad to  money  individual expenses or  education and learning per financial year which begins in April  as well as ends in March the  list below year.

Fintech News in India

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

Hundreds of  numerous  individuals in India today  reside in rural areas.  The majority of them don’t have a  credit report. The professions they work on  mainly farming aren’t  thought about a business by  a lot of  lending institutions in India. These farmers  as well as  various other professionals  likewise  do not  have actually a documented  credit report, which puts them in a  high-risk  classification for banks to  provide them a loan.

Fintech News Singapore

Switzerland-based Fintech firm neon  has actually  protected 7 million CHF (appr. $7.78 million) from existing  financiers  as well as  has actually  likewise launched a crowdfunding round for  customers.

The neon team notes:

 Excessive  charges,  stringent opening times,  way too much bureaucracy  as well as  challenging apps. To us, it was clear: it can’t go on like that. That‘s why we  constructed neon. neon is your transaction  represent your  day-to-day  financial resources. No base  costs, free Mastercard. Super simple. All on your smartphone. 100% independent.

Investors in neon‘s  financial investment round reportedly include the TX  Team, BackBone Ventures, QoQa  Solutions SA, the Helvetia Venture Fund, the Schwyzer Kantonalbank‘s  development  structure, as well as  exclusive investors.

With 70,000  customers currently  aboard, neon is introducing equity crowdinvesting with tokenized non-voting shares which will  supposedly be kept in a personal  budget. The Swiss  electronic  possession  system Sygnum  Financial institution is  functioning as the tokenization  companion. As previously reported, Sygnum Bank, a  accredited crypto-asset bank, has been founded on Swiss  and also Singapore heritage and  runs globally.


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

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

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

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

The suggestion is part of an article by Ron Kalifa, former supervisor on the payments processor Worldpay, that was directed by way of the Treasury contained July to formulate ways to make the UK one of the world’s leading fintech centres.

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

Kalifa’s Fintech Review lastly published: Here are the 5 key conclusions 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 and also, for the most part, it looks like most were position on.

According to FintechZoom, the report’s publication will come close to a year to the morning that Rishi Sunak first guaranteed the review in his first budget as Chancellor on the Exchequer contained May last season.

Ron Kalifa OBE, a non-executive director belonging to the Court of Directors at the Bank of England and also the vice-chairman of WorldPay, was selected by Sunak to head upwards the significant dive into fintech.

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

Regulation and policy

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

Kalifa has also advised prioritising Smart Data, with a specific concentrate on amenable banking and also opening upwards a great deal more routes of talking between open banking-friendly fintechs and bigger financial institutions.

Open Finance also gets a shout out in the article, with Kalifa telling the authorities that the adoption of available banking with the goal of attaining open finance is of paramount importance.

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

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

Watching the achievements of the FCA’ regulatory sandbox, Kalifa has also proposed a’ scalebox’ which will assist fintech firms to grow and expand their operations without the fear of choosing to be on the bad aspect of the regulator.


In order to bring the UK workforce up to date with fintech, Kalifa has recommended retraining workers to satisfy the increasing needs of the fintech segment, proposing a series of inexpensive training programs to accomplish that.

Another rumoured accessory to have been integrated in the article is the latest visa route to ensure high tech talent is not put off by Brexit, guaranteeing the UK continues to be a top international competitor.

Kalifa indicates a’ Fintech Scaleup Stream’ that will provide 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 suggests the federal government create a £1bn Fintech Growth Fund to assist homegrown firms scale and expand.

The report implies that this UK’s pension planting containers could be a great method for fintech’s financial backing, with Kalifa mentioning the £6 trillion currently sat within private pension schemes within the UK.

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

Kalifa in addition has advised expanding R&D tax credits thanks to the popularity of theirs, with ninety seven per dollar of founders having utilized tax incentivised investment schemes.

Despite the UK acting as home to some of the world’s most successful fintechs, very few have picked to mailing list on the London Stock Exchange, in fact, the LSE has noticed a 45 per cent reduction in the selection of companies which are listed on its platform since 1997. The Kalifa examination sets out steps to change that as well as makes some suggestions that seem to pre empt the upcoming Treasury-backed review into listings led by Lord Hill.

The Kalifa article reads: “IPOs are thriving globally, driven in section by tech companies that will have become vital to both buyers and businesses in search of digital resources amid the coronavirus pandemic and it’s critical that the UK seizes this particular opportunity.”

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

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


In order to ensure the UK remains a best international fintech end point, the Kalifa review has suggested revising the present Fintech News  –  “Fintech International Action Plan.”

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

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

National Connectivity

Another strong rumour to be confirmed is Kalifa’s recommendation to write ten fintech’ Clusters’, or perhaps regional hubs, to ensure local fintechs are actually given the support to develop and expand.

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

After London, there are actually 3 big and established clusters where Kalifa suggests hubs are established, the Pennines (Leeds and Manchester), Scotland, with particular reference to the Edinburgh/Glasgow corridor, along with Birmingham – Fintech News .

While other areas 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 and South Wales) Northern Ireland.

The Kalifa review indicates nurturing the top 10 regions, making an endeavor to center on the specialities of theirs, while simultaneously enhancing the channels of interaction between the various other hubs.

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