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Nium and Kapronasia Partner to Shed Light on Cross-border B2B Payment Challenges in Asia
The launch of the paper is the first of many activations Nium has planned for Money 20/20 Asia
SINGAPORE, April 19, 2024 /PRNewswire/ — Nium, the global leader in real-time, cross-border payments, and Asia’s leading payments, banking, and capital markets research firm, Kapronasia, today launched “Breaking Borders: The Revolution of Real-Time Cross-Border B2B Payments in Asia“ – a new data-backed white paper that addresses cross-border B2B payment challenges, current initiatives, and the important role of intermediaries.
In global commerce, cross-border B2B payments are crucial, yet hindered by complexity, high costs, and slow processing times. These challenges, compounded by diverse regulatory environments, can erode profitability and stall growth. There’s a pressing need for innovation and reform in cross-border payments. In the paper, readers will learn more on how fintech solutions and regulatory harmonization efforts promise to simplify processes, reduce costs, and speed up transactions. The research calls out initiatives, such as SWIFT GPI, Project Nexus, and ASEAN’s Regional Payment Connectivity, alongside emerging technologies, that signal a brighter future for cross-border transactions. Download the paper to see the data and learn more.
“Cross-border B2B payments are critical, but they face formidable challenges – from outdated systems to regulatory complexities,” said Zennon Kapron, Founder and Director of Kapronasia. “Our latest research, in collaboration with Nium, sheds light on this critical issue. As we chart the course forward, it’s evident that transformative change is imminent. Intermediaries like Nium play a pivotal role in this journey, bridging gaps and reshaping the landscape of global commerce. However, this transformation demands collective action to overcome technological and regulatory hurdles. Yet, the vision is clear – a world where cross-border transactions flow seamlessly, fostering collaboration across borders.”
The launch of the paper is a part of a wider push leading into Money 20/20 Asia in Bangkok, Thailand (April 23-25). Nium plans to take the city by storm with announcements, panels, and parties, that highlight its expansion in the region.
The company will be making three blockbuster announcements during the event:
- First, in a bold move to fortify its regional footprint, Nium is expanding its presence in Indonesia and will be signing an MOU at Money 20/20 with a pioneer in the Indonesian fintech space. Nium has also made headway into the dynamic landscape of Korea with the official launch of a key Korean bank, marking a pivotal milestone in its expansion journey and supporting its mission to further financial inclusion, globally. The company has already made waves in Thailand, where it powers four of the country’s premier banks;
- Second, Nium will be announcing its first ever Chief Payments Officer. With this newly-created position, Nium sets itself up to closer align itself with partners across the payments ecosystem. Nium’s CPO will work across Nium’s markets, leading the company’s Global Banking and Payment Operations teams;
- Finally, Nium will be show continued momentum in the exploding travel payments space, announcing a partnership with a leading global payments processor to issue virtual cards in the APAC region. By 2027, virtual card transactions industry-wide are expected to exceed 121 billion as travel intermediaries and their suppliers look for modern solutions to streamline payments.
Nium will be very visible on the event’s main stages:
On April 23 at 10:00 a.m. in a session titled, “Travel in China: The Next Big Niche,” Richard Cogswell of Nium Travel will sit down with Jensen Cai, Head of Hong Kong at Triplink and Betsy Samuel, Chief Marketing Officer at Thredd to talk China travel trends and the future of payments in China and beyond.
Then at 3:00 p.m. on the Vision Stage, in one of the conference’s most anticipated panels titled, “Beyond Competition: How Asian Payments Leaders are Shaping the Future Together,” Nium’s EVP and GM of APAC and MEA, Anupam Pahuja, will join banking leaders Rajnish Pal, Founding Member at ZING by HSBC and Shun De Ng, Group Head of Payments at DBS, to discuss competition and cooperation in fintech. The talk will be moderated by global banking industry expert, Alexandra Johnson.
After all the excitement from the first two days of the conference, Nium and Beacon Venture Capital will invite attendees to unwind at Nium @ Nite Market with street food, drinks and music on April 24 from 6:00 PM to 8:00 PM at the Marriott Marquis Queen’s Park.
Finally, the Nium team will be on the ground at booth #1002 throughout the conference to provide free global payments assessments, answering questions on a range of topics, including:
- How to take advantage of Nium’s 100+ real-time markets to help your business grow;
- How to manage FX better by collecting and holding funds in a Nium multi-currency wallet;
- How issuing physical or virtual cards can streamline vendor payments and control employee expenses;
- How a global account strategy can streamline global payouts; and,
- How real-time payouts can help your business grow
Register for our event, book a meeting, and find out about more Nium’s presence here.
About Nium
Nium, the leader in real-time, cross-border payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the global economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 190+ countries, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 35 markets. Nium’s growing card issuance business is already available in 34 countries. Nium holds regulatory licences and authorizations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore.
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View original content:https://www.prnewswire.co.uk/news-releases/nium-and-kapronasia-partner-to-shed-light-on-cross-border-b2b-payment-challenges-in-asia-302122574.html
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CUBE acquires global regulatory intelligence businesses from Thomson Reuters
LONDON, May 17, 2024 /PRNewswire/ — CUBE, a global leader in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), announces today its acquisition of the Thomson Reuters Regulatory Intelligence and Oden products and businesses.
The acquisition of these global businesses represents a major step forward in CUBE’s growth plans. It will deliver significant scale across many of the world’s leading and systemically important financial institutions. CUBE’s existing global customer base will be expanded to total approximately 1,000 customers in banking, insurance, asset and investment management, payments and adjacent regulated industries.
CUBE’s global employees will expand to 600, of which close to 250 are highly qualified regulatory subject matter experts, legal and compliance professionals.
Ben Richmond, founder and CEO of CUBE said: “Thomson Reuters is known to be the biggest and best in the industry for providing regulatory expert analysis and subject matter expertise, alongside world-leading journalism and news. The combination of CUBE’s purpose-built AI, with the years of content curated by Thomson Reuters Regulatory Intelligence and Oden expert analysts, will accelerate innovation. Together, we will deliver regulatory transformation capabilities for our global customers that could only have been imagined before.”
Richmond continues: “This combination will provide tremendous scale and depth across CUBE’s regulatory content and technology. It is a significant step toward creating an industry-defining regulatory compliance and risk platform that will benefit all customers and elevate the industry as a whole.”
Through this acquisition, CUBE will provide an expanded and comprehensive selection of specialized regulatory intelligence and regulatory change services, committed to excellence, quality, and highly contextualised and meaningful regulatory content for customers. By combining cutting-edge technology and subject matter expertise at scale CUBE will set a new bar for the industry in regulatory automation and content.
Chris Maguire, General Manager, Risk and Fraud, Corporates, Thomson Reuters said: “It was clear to us that CUBE had established itself as a leading regulatory intelligence provider for global enterprise clients in the financial services and insurance sectors. We wanted to ensure our customers and employees could work with an organisation that would continue to innovate and significantly invest in solutions like Thomson Reuters Regulatory Intelligence and Oden. We are working tirelessly to ensure a seamless and value-enhancing transition for customers and employees, and we are looking forward to working with the CUBE team during this transition.”
Christopher Fielding, Hg, said: “We’re delighted to further extend our market reach, bringing in two high quality and complementary global businesses to the CUBE platform.”
Thomas Martin, Hg, added: “We see these acquisitions as enabling further innovation in the regulatory intelligence and change management sector, leading to strengthened demand for these quality solutions across the globe.”
The terms of the transaction will not be disclosed.
About CUBE
CUBE provides a highly comprehensive and robust source of classified, and meaningful AI-driven regulatory data to power its Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM) solutions. CUBE’s purpose-built regulatory technology including its AI engine (RegBrain) and software platform (RegPlatform) tracks, analyses, and monitors laws, rules, and regulations in every country and in every published language to create an always up-to-date regulatory footprint that transforms visibility and compliance capability for customers across the globe.
With operations across Europe, North America, Canada, Asia, and Australia, CUBE serves a diverse and global base of customers and partners including the largest financial institutions in the world who leverage CUBE’s platform to streamline their complex regulatory intelligence and change management processes.
Following the strategic partnership with Hg in March 2024, CUBE announced the acquisition of US-based Reg-Room in May 2024.
About Hg
Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers.
This industry is characterised by digitisation trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come. Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well.
With a vast European network and strong presence across North America, Hg’s 400 employees and around $70 billion in funds under management support a portfolio of around 50 businesses, worth over $140 billion aggregate enterprise value, with over 110,000 employees, consistently growing revenues at more than 20%.
About Regulatory Intelligence
Regulatory Intelligence is a proactive, connected, and comprehensive solution that tracks and analyses regulatory changes within ~2,000 regulatory bodies and rulebooks for more than 20 countries. It enables banking, financial services, and insurance (BFSI) sectors to manage exposure to operational, regulatory, and compliance risk.
About Oden
Oden State Rules and Regulations (SR&R), Oden Policy Terminator/Sentry PT, and OdenTrack provide repositories and automated solutions for complying with state rules and regulations on the provisioning of Personal and Business Insurance in the US.
View original content:https://www.prnewswire.co.uk/news-releases/cube-acquires-global-regulatory-intelligence-businesses-from-thomson-reuters-302147604.html
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