Fintech – Page 99

InComm Payments Grows Data Processing Operations in Georgia, Collaborates with Georgia Department of Economic Development to Strengthen State’s Position as FinTech Innovation Hub

November 4, 2020 Published by TheFintechBuzz.com

Georgia’s legacy as the payments processing capital of the country grew stronger today as InComm Payments, a global payments technology leader, announced new investments in multiple Georgia communities. The company will continue to grow its data processing operations in Columbus, its IT Global Command Center in downtown Atlanta, and Go Studio – an emerging technology incubator also located in downtown Atlanta. These innovations were supported by the Georgia Department of Economic Development (GDEcD) team.

With the surge of new FinTech solutions and programs, InComm Payments is expanding its Columbus facility to support customer service and help ensure regulatory compliance and fraud prevention of new FinTech products and services as they are developed. The IT Global Command Center in Atlanta will house a cross-functional team of both security and IT professionals who will monitor transaction activity to proactively address system needs and its cybersecurity stance as situations are ever-evolving.

“Nearly 70% of all payment transactions are processed in Georgia, particularly by companies in the Atlanta area, which has earned the region the nickname ‘Transaction Alley,’” said Bob Skiba, Executive Vice President, Regulatory and Government Affairs at InComm Payments.

“This accomplishment is made possible by the continued dedication of GDEcD and local companies that have fostered a strong spirit of innovation within the state’s FinTech community,” said Michael Parlotto, Vice President of Emerging Technology and head of Go Studio. “We are proud to do our part to uphold this legacy, as we did earlier this year with the opening of Go Studio.”

Go Studio is an innovation hub utilizing emerging technology to research and develop proofs-of-concept for customer-centric products and solutions. Based in InComm Payments’ Atlanta headquarters, the studio is currently exploring applications for blockchain, artificial intelligence, voice assistants and more. The studio is also collaborating with Georgia-based colleges and universities, such as Kennesaw State University, to provide local students with opportunities to participate in the ideation and implementation of emerging technology solutions. InComm Payments was one of the first sponsors of the Georgia Fintech Academy of the University System of Georgia, which facilitates partnerships with most Georgia-based public institutions and the University System of Georgia’s Apprenticeship Program.

A delegation led by Pat Wilson, Commissioner of the Georgia Department of Economic Development, and Gary Black, Commissioner of Agriculture for the state of Georgia, safely visited Go Studio and the IT Global Command Center in July 2020 to discuss potential applications of the latest FinTech innovations in support of local industries and businesses.

“InComm Payments continues to invest in Georgia, and we are grateful for their focus on innovation and their support for growing the future of FinTech and the workforce needed to support it,” said GDEcD Commissioner Pat Wilson. “As is the case for so many of our Georgia industries, our FinTech leaders are interested in advancing the future to benefit all. InComm Payments is at the top of that list.”

Georgia FinTech companies generate a combined annual revenue of more than $72 billion. For more information on Georgia’s technology industries, visit www.georgia.org/industries/technology.

Grantit Announces Participation in Hong Kong Fintech Week 2020

November 3, 2020 Published by TheFintechBuzz.com

Hong Kong based Fintech startup, Grantit will be exhibiting at the startup virtual exhibition at Hong Kong FinTech Week, one of the leading FinTech events in Asia which will be held on 2nd to 6th November 2020.

Grantit provides sensible, simple, smart and stress-free digital personal financing solutions. The Grantit mobile application covers every stage of the loan process, which opens access and simplifies the way for Hong Kong people to manage the micro-loan for everyday needs. Until Summer 2020, the company has achieved a total applied loan amount of HK$90 million.

The Grantit micro-loan app has recently evolved into Version 2.0, recognising the importance of being customer centric and data driven, we make it a priority to provide a professional service that truly benefits our customers on all levels, and strive to make strategic decisions based on data-driven knowledge and insights for better customer experience.

The Hong Kong FinTech Week is an Asia’s global financial technology event where entrepreneurs, investors, regulators and visionaries will participate. The event will take place virtually in Hong Kong from November 2 to 6.

This is the first time Grantit will be participating in an international Fintech event, and the team is ready and excited to connect with the tech industry giants and startups for growth opportunities and networking, overseeing the current fintech trends and redefining the future technology in the financial markets.

CSCI attends the 2020 Hong Kong Fintech Week, unveiling its bond credit rating and trading services tailored made for offshore bond market

November 3, 2020 Published by TheFintechBuzz.com

China Securities Credit Investment Co., Ltd. (hereinafter referred to as”China Securities Credit Investment”), a national comprehensive credit service organization, together with its subsidiaries that focus on overseas strategy and business development – China Securities Credit Investment Technology Co., Ltd. (hereinafter referred to as “China Securities Credit Technology”) and Pengyuan Credit Rating (Hong Kong) Co., Ltd. (hereinafter referred to as “Pengyuan International”) made its debut again at the global renown fintech event -2020 Hong Kong Fintech Week, presenting online fintech studio regarding overseas funds entry into Chinese bond markets. A series of innovative solutions such as DMI bond quotation and information services from China Securities Credit Technology and credit rating services from Pengyuan International were also released.

Committed to providing full credit value chain services driven by technology

In 2018, China Securities Credit Investment (CSCI) made its debut at the Hong Kong Fintech Week and aroused strong responses. This year marked the fifth anniversary of Hong Kong Fintech Week with a brand new online conference mode and CSCI was invited to participate again.

As the leading Chinese integrated credit-tech service provider, CSCI aims to build an infrastructure that serves the entire life cycle of credit assets (asset generation – asset trading and exchange – asset management) empowered by its technology. It provides integrated services that cover the entire credit value chain, from credit risk management, credit enhancement, to credit asset trading services and management. In response to the low market recognition and insufficient liquidity of RMB assets in overseas markets due to opaque information, CSCI aims to provide overseas markets with high-quality and valuable international credit ratings, data and information services through the Hong Kong business platform, in order to help foreign investors understand RMB assets more comprehensively, objectively and quickly as well as increase their recognition and participation in RMB assets.

As the world economy has entered the era of low interest rates, the income of Chinese assets has obvious advantages on a global scale. The Chinese government has opened up for foreign capital markets in order to bring more money flowing in and out of the country. However, data shows that foreign capital still has concerns about entry the Chinese financial market especially the bond market. The online fintech studio on “Is Wall Street Ready to Accept Chinese Assets?” organized by CSCI and its subsidiaries aims to analyze the current situation of foreign capital entry the Chinese credit market and explore future opportunities. This panel connected distinguished guests from Shanghai, Hong Kong and Beijing, including Yang Yang, CEO of China Securities Credit Technology; Terry Zhang, Head of Global Strategy and Business Management of Pengyuan International; and Zhai Chenxi, Chairman of the Board of TF International Securities Group, Co-President of HengTai Securities and attracted approximately 25,000 attendees around the world.

Huge opportunities behind China’s credit bond market

“China is one of the world’s largest bond markets with the second largest scale globally. At present, international investors only account for about 10% of our local interest bond market. It is expected that the proportion of international investors in China’s bond local currency market will increase to 20% in the near future,” Zhai Chenxi from TF International put it.

When it comes to the differences between China’s bond transactions and overseas’, Yang Yang from China Securities Credit Technology (CSCT) admitted that due to the lack of information about Chinese bonds on the overseas market platforms, foreign institutions do not know which direction to focus on when investing in Chinese bonds. In response to it, Yang Yang introduced the current status of the domestic credit bond market and the main trading methods, and stated,”In China, about 90% of Chinese bond issuers have not made their debut in the international market. Therefore, despite the great opportunities behind China’s credit bond market, foreign investors are not familiar with them.”

As a market innovator, CSCT has built a comprehensive bond information platform for global financial institutions. The DMI terminal (www.cscidmi.com) launched by CSCT made great efforts to eliminate the information asymmetry of the two markets. It determines to build a Chinese bond quotation and information platform for overseas investment institutions, and provide foreign investors with various analytical tools and first-hand news information. It helps them better understand the Chinese market, effectively reduce credit risk, and use technology to empower China’s credit bond market. This will be the gateway for foreign investors into the Chinese market.

Huge data value in China’s domestic ratings

Regarding the doubts of global investors about whether China’s domestic credit ratings are inflated, Terry Zhang from Pengyuan International stated that China’s domestic ratings are in parallel with global credit ratings and cannot be directly compared. The global investors must realize a few things, firstly these domestic ratings are just of a different scale than the one they used to; seccondly, the domestic rating does carry great data value although it has much room to improve, and lastly, they should never confuse domestic rating to the global ones when they make investment decision.

As an international credit rating agency, Pengyuan International understands the differences between global and domestic credit ratings and is committed to providing reliable rating services for the global capital market. It uses data to enable international investors to better understand market trends through rating agencies. In addition to the distribution of global ratings authorized by the issuer, Pengyuan International can also conduct ratings based on the needs of global investors, according to the global scale, and combined with local conditions, which can well support and improve the decision-making of global investors.

Chen Hao, Chief Data Officer of CSCI put it, “We are honored to participate in Hong Kong Fintech Week again. As China’s leading credit technology company, China Securities Credit Investment Group will rely on highly effective technology innovation and keen sense of the market demand, forge ahead and become a highly influential technology service provider in China’s offshore bond market.”

Wirex’s ‘Rising Women in Crypto Power List’ Announced

November 3, 2020 Published by TheFintechBuzz.com

Leading payments company, Wirex, in partnership with The Fintech Times, has revealed its 2020 ‘Rising Women in Crypto Power List’. After receiving 367 entries, the esteemed judging panel have chosen the 10 most inspirational women at the forefront of the crypto industry.

The ‘Power List’ was created as part of Wirex’s inaugural ‘Women in Crypto’ campaign, endeavouring to showcase the achievements of women in the field and inspire others to get involved. After the longlist was published last month, the judges narrowed it down based on nominees’ achievements, potential, leadership skills, ambition, influence and innovation in the crypto field. The winners come from a variety of backgrounds and include women working in events, research and content creation.

Wirex and The Fintech Times’ 2020 ‘Rising Women in Crypto Power List’ is (in no particular order):

Noelle Acheson, Director of Research, CoinDesk
Professor Tonya M. Evans, Professor, Penn State Dickinson Law
Lucy Gazmararian, Associate Director, PWC Crypto & Fintech Advisory
Susan Crew, Content Creator, “Crypto Granny”
Simone Maini, Chief Executive Officer, Elliptic
Inbal Polak, Director of Fund for Digital Assets, YRD Capital
Elizabeth Kukka, Executive Director, Ethereum Classic Labs
Sofie Blakstad, CEO, hiveonline
Christina Lomazzo, Blockchain Lead, UNICEF
Lenka Hudáková, Events Manager, Maker Foundation

The announcement comes during the final phase of the campaign, with a ‘Women in Crypto’ takeover of the Wirex channels taking place from the 26th October until the 8th November. This will feature content from women working at Wirex, as well as female influencers in the crypto and fintech fields. Contributors include: Ashley Koh, COO at Spark Systems, about what she’s learnt as a woman in fintech; George Coxon, COO at the Nano Foundation, with three things you didn’t know about Nano; and Erica Stanford, Founder of the Crypto Curry Club, with top tips for surviving networking events.

Wirex CEO and Co-Founder – and ‘Power List’ judge – Pavel Matveev, said: “We’ve been overwhelmed by the positive response we’ve received so far, and we’re delighted to finally reveal the ‘Power List’ top 10.”

The platform’s aim has always been to empower everyone to have access to cryptocurrency, leading Matveev to explain that “with so many inspirational women nominated, it was a difficult decision. But I’m confident that those picked represent the incredible talent of females in this field and I hope they inspire other women to be a part of this rapidly developing sector.”

The ‘Women in Crypto’ takeover will continue until 8th November with content being housed on the ‘Women in Crypto’ hub, and more information about the shortlist winners can be found on this link.

iQSTEL (IQST) and Alternet (ALYI) Announce Partnership To Develop IoT Solution For EV

November 3, 2020 Published by TheFintechBuzz.com

iQSTEL, Inc. (USOTC: IQST) an international telecommunication and fintech service provider, and Alternet Systems, Inc. (USOTC: ALYI), an electric vehicle (EV) innovator, today announced a letter of intent (LOI) agreement for IQST’s Internet of Things (IoT) development team to combine efforts with ALYI’s EV engineering and design program to codevelop two-way device communication solutions specific to the EV operating environment.

ALYI’s first generation EV is an electric motorcycle, designed for, among other applications, utilization within the rideshare (exemplified by Uber and Lyft services) sector in Africa evolving the prevailing robust motorcycle taxi (Boda) market. ALYI’s electric motorcycle design program, orchestrated by MODUS, was recently detailed in an online narrative presentation.

IQST subsidiary IoT Labs MX specializes in Internet of Things (IoT) design and development to include wireless and vehicle telematics space that provide telematics solutions. IoT Lab MX, among other products, has developed the IoT Smart Gas Platform (www.iotsmartgas.com).

IoT Labs MX and MODUS plan to work jointly to develop two-way device communication in the Revolt Electric Motorcycles with, among others, the following functions:

Geolocation
Battery Management
Theft and Accident Interfacing with Emergency Services
Remote Maintenance Management
Vehicle Body and Component Leasing Management
Driver and Passenger Personal Mobile Device Interface
Rideshare System Interface

Zelle Network® Exceeds One Billion Payments in 12 Months, Setting a New Record for the Payments Network

November 3, 2020 Published by TheFintechBuzz.com

Early Warning Services, LLC, the network operator behind Zelle®, today announced that during the past 12 months (September 2019 – September 2020), the Zelle Network processed more than one billion payment transactions. In Q3 2020, the Zelle Network processed 323 million transactions, totaling $84 billion in money sent — an increase of 17% and 18% quarter-over-quarter, respectively.

“We continue to grow our network, welcoming financial institutions of all sizes. Today, more than 1,000 banks and credits unions are currently contracted to participate on the Zelle Network, including 731 that are live today and processing transactions,” said Al Ko, CEO of Early Warning Services, LLC. “Zelle is available to more than 140 million consumers in their mobile banking apps or in the Zelle app, and is used for the most important life essentials such as sending contactless payments to local businesses and money to friends and family in need.”

Consumers have increased their use of Zelle significantly in the past 12 months, adopting the service for an evolving set of use cases. In its recent Zelle Consumer Payment Survey, the Zelle Network found that nearly three-quarters of consumers surveyed were most likely to use P2P services to provide financial aid to friends and family since the onset of the COVID crisis.

The Zelle Network also saw more than $4.5 billion sent to small businesses and nearly half a billion dollars sent by companies to consumers via the Disbursements with Zelle service.

Partnerships Help to Increase Digital Financial Literacy
With more consumers shifting banking behavior online, Zelle has partnered with leading social change organizations to offer free educational tools. Through its partnership with EVERFI, Zelle has empowered thousands of high-school students in the United States with online financial literacy classes, and, through the nonprofit Older Adults Technology Services

(OATS) Zelle has hosted online community learning sessions on to safely use digital banking tools, including using person-to-person (P2P) payments.

“As the pandemic continues to impact consumer behaviors, it’s more important than ever to help those communities new to digital banking,” said Rose Corvo, Chief Marketing Officer at Early Warning. “This year, we have partnered with OATS and EVERFI and continue to invest significantly in consumer education on how and when to use Zelle, which has helped with adoption but, more importantly, safe banking behaviors.”

Praxis Cashier Adds Industry Powerhouse IC Markets To Client Roster

November 3, 2020 Published by TheFintechBuzz.com

Praxis Cashier, the leading technology provider for smart cashier software announced today that it has added another global FX brand to its ever-growing client portfolio, further securing its foothold in the regulated retail forex and CFD industry. Praxis’s PCI 1-compliant smart cashier software will allow Australia-based Forex trading platform IC Markets to offer its clients, across its various entities, multiple payment options at almost any location, with the highest security standards on the market.

Increasing numbers of online merchants from various industries see the added value in the technology Praxis supply, including IC Markets. Established in 2007, IC Markets is a Forex titan holding billions of dollars in trading volumes, as well as licenses across the globe. The collaboration with Praxis will allow IC Markets to access direct payments integration with some of the most prominent financial institutions and payment gateways, furthering their reach within the Forex space and expanding their client offerings.

“Once again major websites and players of the Forex industry realize the value in the Praxis software,” said Amit Klatchko, Praxis’ Founder and Director. “Praxis is proud to be recognized as a superior cashier software provider on a global scale and looks forward to integrating with IC Markets as they expand and improve their brokerage services. We are excited to offer IC Markets our 300+ integrations with banks, PSPs, e-wallets, crypto solutions and wire transfer services, backed by enhanced security, accelerated integration speeds and superior overall services.”

Young Platform: Bitcoin arrives in Italian supermarkets

November 3, 2020 Published by TheFintechBuzz.com

For Young customers, an Italian fintech startup operating in the cryptocurrency industry, thanks to the collaboration with viacash, a new top-up method is now available as an alternative to the traditional bank transfer.

In order to make the Bitcoin shopping experience even easier and more immediate, users will be able to top up their exchange account directly at the supermarket checkout.

There are over 600 affiliated shops between Penny Market and Pam distributed across the country. You just need to geolocate in the chosen Penny Market or PAM store, insert the amount you want to load and generate a barcode to show at the checkout. At this point you can complete the payment in cash.

“For many people, especially if they are novice investors, it is easier and quicker to top up their account at the supermarket checkout while shopping than transferring funds online,” states Andrea Ferrero, CEO of Young.

Flavio De Laurentis, General Manager Italy of viafintech says: “Thanks to this collaboration two fintech companies are working together to simplify and make financial services more accessible. In Europe, thanks to our extensive network, viafintech is a leader in the instant cash payments and top-ups field and we are very pleased to offer our infrastructure from now on also to Young’s customers.”

The opportunity to top up your account at the supermarket is an addition to the recent introduction of debit cards, credit cards and Apple Pay to purchase the main cryptocurrency in a simple and immediate way.

“All these initiatives meet the needs of our community that during the last few weeks has grown significantly and has positively responded to the recent launch of our new Young Platform Pro exchange, with over 120,000 Waiting List members,” says Diego D’Aquilio, CMO & Head of International Expansion of Young.

Tag: Fintech

InComm Payments Grows Data Processing Operations in Georgia, Collaborates with Georgia Department of Economic Development to Strengthen State’s Position as FinTech Innovation Hub

Grantit Announces Participation in Hong Kong Fintech Week 2020

CSCI attends the 2020 Hong Kong Fintech Week, unveiling its bond credit rating and trading services tailored made for offshore bond market

Wirex’s ‘Rising Women in Crypto Power List’ Announced

iQSTEL (IQST) and Alternet (ALYI) Announce Partnership To Develop IoT Solution For EV

Zelle Network® Exceeds One Billion Payments in 12 Months, Setting a New Record for the Payments Network

Praxis Cashier Adds Industry Powerhouse IC Markets To Client Roster

Young Platform: Bitcoin arrives in Italian supermarkets

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