Fintech PR

Lyra contributing to India’s financial inclusion through it’s infrastructure

Published

4 years ago

December 4, 2020

The current crises have set new normal for everyone, like, social distancing, work from home, etc. but it also has set up the use of best practices and fueled the emergence of innovative technologies along with the rise in requirements, standards, and demands from customers. And Digital payment field is not an exception.

On the current COVID-19 premises, Lyra as a title partner for the Digital Money 2020 actively participated in a two-day event that took place virtually on the 1st and 2nd of December. This event was organized by PCI and IAMAI. In the keynote, Christophe Mariette, Chairman, India, and Global Commercial Director, Lyra stated, “Lyra has already acquired the license for Payments Institution in France and has established itself as a major player in payment for banks and other financial and non-financial institutions. Lyra is planning to replicate the successful global solutions in India with features in accordance with regulatory requirements in India.”

“Lyra is well established in countries like, India, Europe and Latin America. We took this fact as an opportunity to bring easy solution for Payment to these countries. Digital payment in particular will play a vital role in supporting economic recovery. The government and fintech industries are playing their role heavily to make India a cashless economy and with the same goal in the mind, Lyra has been in the digital space providing transaction routing and payment processing solutions for more than a decade and will continue to do so.” He added during his keynote for Digital Money 2020.

Despite the COVID-19, India is said to contribute 2.2% to the world’s digital payments market by 2023. In March 2020, India was accounted for the fintech adoption rate of 87%. With a high level of banking penetration and widespread of mobile usage the Indian fintech space is supposed to contribute to 2.2% of the world’s digital payment market by 2023.

Today, in India, Lyra Network is proud to be playing a significant role in enabling financial inclusion in the country, offering technology services in the connectivity space and to a wide range of sectors like e-commerce, education, retail, BFSI, travel, and tourism, etc.

This year marks Lyra’s 13th year providing routing and payment solutions in India. Alongside the introduction of a secure payment processing platform for helping customers with online transactions, Lyra is also developing and providing value-added services for daily transaction and equipment management.

For any digital payment solution provider, infrastructure is of utmost importance. The robustness of Lyra’s high-end infrastructure was proved when demonetization was announced and once again in the lockdown. Back in 2016, after the announcement of demonetization, all the card networks started failing, but Lyra was up and running fast all the time without collapsing. In the same way, during the lockdown period, all of Lyra’s services were fully available for people to move funds and keep businesses and the economy going on. Any and every transaction that enters the infrastructure goes first to Mumbai center and then to Bangalore. Both the centers are capable of handling a disaster situation and are activated all the time. So, in any case, if something goes wrong at any of the centers, the other center acts as a backup.

“Backend infrastructure and the data centers at Mumbai and Bangalore is Lyra’s key strength. We want the transactions not only fast but also secure”, Said Christophe.

One of the key strengths of Lyra is NAC, a highly secure and powerful server that provides seamless communication to the merchants’ banks without any glitch. With the exclusive EFT/POS transaction gateway owned by Lyra, it is possible to receive and transfer any transaction flow securely from any kind of POS terminal and connects it to any type of network (PSTN/GPRS/ADSL) with any existing transaction protocol.

Lyra is playing a significant role in making India a cashless economy, by providing solutions like, Lyra’s Payment gateway, providing seamless and secure transaction flow with quick and robust technical support, Lyra EPOS, a mobile application that enables QR and link-based online payment acceptance, Lyra WhatsApp Payment Solution, simple to use payment collection solution that uses WhatsApp Messenger. Parallel to these offerings, Lyra also provides solutions like LUMA – inventory management solution, IP POS solution, to enable the bank to authenticate the card information with a dual authentication platform, Payment Switch, a robust and secure platform that allows higher success rate with faster processing time for online as well as offline transactions, white label solutions, Lyra Merchant Plug-in (MPI) to equip the merchant with the facility to authenticate the card issuer’s issuing bank.

With in-depth knowledge of market expectations, technical expertise, and the quality of customer care, Lyra is determined to develop its own products and solutions rather than taking help from a third party to maintain secure and seamless data flow between merchants and banks and in the future, it will continue to do so.

“We have been providing excellent security and uninterrupted connectivity for every transaction, and we will continue to do so”, Christophe added

Lyra organizes an internal and external audit regularly and makes sure that all the compliances, policies, and processes are being followed. Currently, Lyra is SSL certified, EMV 3D2.0 secured and PCI DSS V 3.2.1 compliant service.

It is a known fact that, in India. More than 65% of the population resides in rural areas. And with apparent problems like connectivity, network issues, lack of awareness and knowledge, and other challenges, rural India is deprived of the adoption of digital payments.

Lyra’s contribution to onboard the unbanked and underbanked starts with LYRA’s unique last-mile connectivity solution. This solution is being used by many business correspondents to provide banking services using mobile handheld devices in the villages or rural sector pan India. This connectivity solution has enabled the NAC-GPRS solution to solve the problem of interrupted transactions in rural India. This solution has helped banks conduct transactions in such areas successfully.

In order to bring digital payments to rural India, Lyra has introduced a connectivity platform to connect rural India –Lyra Connect. This platform uses multiple technologies and manages services for broadband, provides, M2M sim based connectivity.

Many small offices, banks, micro ATMs, AEPS POS machines, payment POS machines, ultra-small bank branches, ATMs are relying on Lyra for last-mile connectivity solutions. Using mobile POS machines many banking business correspondents are using Lyra Connect to deliver banking and financial services in rural areas.

Today, Lyra has enabled 16,00,000 POS on its platform. With the successful accomplishment of many significant projects like rural POS connectivity for India Posts, secure connectivity to process financial transactions for metro rail, POS connectivity for major banks, connectivity for bank branches, Lyra is Processing 16 million connections per day, Lyra manages over 1,20,000 e-merchants and over 14,00,000 POS terminals.

“The digital landscape is indeed once again shifting and as a result of the impact of COVID-19, we will surely witness the new age technology as it enters the payment domain. In the coming future, I ensure you that Lyra will step up to even more innovative advancements along with customer-oriented services to keep pace with the demands of time, customers, and merchants”, said Christophe.

Fintech PR

Matrixdock Partners with Brink’s for Global RWA Custody, Starting with Gold

Published

46 minutes ago

November 25, 2024

CISION (PR Newswire)

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Partnership Enhances Security for XAUm, Matrixdock’s Gold-Backed Digital Asset, with a Focus on Key Asian Financial Hubs

SINGAPORE, Nov. 25, 2024 /PRNewswire/ — Matrixdock, a leading platform for tokenized real-world assets (RWA), is pleased to announce a strategic partnership with Brink’s, a global leader in secure logistics and asset protection. This partnership ensures the secure transportation and vaulting of LBMA-certified gold, which underpins Matrixdock’s recently launched XAUm token, with a focus on vaults located in Singapore and Hong Kong, two of Asia’s premier financial hubs.

XAUm, an ERC-20 token fully backed by physical gold, offers investors a trusted and transparent digital asset tied to London Bullion Market Association (LBMA) accredited gold. The partnership with Brink’s guarantees that the gold reserves backing XAUm are securely held in high-security, fully insured vaults in Singapore and Hong Kong, enhancing the credibility and security of the token for investors across the globe, particularly in the Asia-Pacific region.

“Brink’s reputation for excellence in secure logistics, combined with the strategic location of vaults in Singapore and Hong Kong, provides unparalleled security and confidence for our XAUm investors,” said Eva Meng, Head of Matrixdock. “This partnership underscores our commitment to maintaining the highest standards of trust and transparency for our tokenized real-world assets.”

Zac McKenna, Head of Digital Assets at Brink’s, emphasized the importance of secure custody solutions in the growing RWA tokenization space: “At Brink’s, we are proud to support the tokenization of real-world assets by providing the secure infrastructure that makes these digital products credible and reliable. Our collaboration with Matrixdock enables us to bring our extensive expertise in secure logistics to the forefront of the blockchain ecosystem.”

Brink’s, with its extensive experience in secure asset management and its well-established presence in Asia, will ensure that the LBMA gold backing XAUm is safely transported, stored, and protected in its world-class vaults. Ben Van Kerkwijk, Vice President of Brink’s Global Services – Asia Pacific, added: “Our premier vaulting facilities in Singapore and Hong Kong are trusted by top-tier clients around the world. We are pleased to provide the same world-class protection for the physical gold that backs Matrixdock’s XAUm token, further enhancing the security and trust for investors in the region.”

This partnership allows Matrixdock to offer a robust gold-backed digital asset that aligns with the security and regulatory requirements of global investors.

XAUm provides investors with seamless access to the value of physical gold while benefiting from the efficiency, liquidity, and transparency of blockchain technology. By focusing on secure vaulting in Singapore and Hong Kong, Matrixdock strengthens its offering in the growing Asian market for tokenized assets.

For more information, please visit www.matrixdock.com.

About Matrixdock

Founded in February 2023 by Matrixport, Matrixdock is a premier platform that offers access to high-quality Real World Assets (RWA) through advanced tokenization technology. As the first in Asia to introduce a tokenized short-term treasury bill product, STBT, Matrixdock has rapidly emerged as an industry leader, earning the Ecosystem Excellence TADS Award in 2023 for Trading & Liquidity Solutions.

Matrixdock is dedicated to becoming the gateway for clients seeking top-tier RWA investments. With a steadfast focus on building a trusted and secure RWA ecosystem for crypto, Matrixdock provides diversified investment opportunities while setting new standards for trust and governance in the digital asset space.

About Brink’s

The Brink’s Company (NYSE:BCO) is a leading global provider of cash and valuables management, digital retail solutions, and ATM managed services. Our customers include financial institutions, retailers, government agencies, mints, jewelers, and other commercial operations. Our network of operations in 52 countries serves customers in more than 100 countries.

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Fintech PR

Cboe Clear Europe Secures Regulatory Approval to Launch Securities Financing Transactions Clearing

Published

46 minutes ago

November 25, 2024

CISION (PR Newswire)

AMSTERDAM and LONDON, Nov. 25, 2024 /PRNewswire/ — Cboe Clear Europe, a leading pan-European clearing house, today announced that it has received regulatory approval to clear European Securities Financing Transactions (SFTs). This was granted by De Nederlandsche Bank (DNB) and the Autoriteit Financiële Markten (AFM).

With this approval, Cboe Clear Europe is set to introduce a first-of-its-kind service for European SFT transactions in cash equities and ETFs, which includes central clearing, settlement and post-trade lifecycle management. It is available to principal lenders, special participant lenders (UCITS and non-UCITS) and borrowers, with settlements conducted across 19 European Central Securities Depositories (CSDs).

The service supports key regulatory initiatives such as the European Market Infrastructure Regulation (EMIR), Central Securities Depositary Regime (CSDR) and the Securities Financing Transactions Regulation (SFTR), thereby promoting transparency, market integrity and the competitiveness of European capital markets.

“We are delighted to have received regulatory approval to expand into European SFT clearing, marking a significant milestone in our goal to introduce innovative, robust, and comprehensive clearing solutions across multiple asset classes in Europe,” said Vikesh Patel, President of Cboe Clear Europe. “This achievement underscores our dedication to supporting our clients’ evolving needs and contributing to the resilience of financial markets. We greatly appreciate the support of our regulators as we deliver on our commitment to launch innovative services which we believe enhance efficiencies for European market participants and help foster the growth of the region’s capital markets.”

This service will help to transform the current bilateral process between securities lenders and borrowers into a centrally cleared model, with Cboe Clear Europe acting as the counterparty to both sides of each transaction. We believe this enables participants to reduce their risk-weighted asset exposures associated with SFTs and supports the growth of this key market. Additionally, it is expected to bring various capital and operational advantages, including savings from cross-margining between cash equities and SFTs, greater settlement efficiencies, elimination of agent lender disclosures, and improved practices around fees management and corporate actions.

The service will utilise The Bank of New York Mellon Corporation and J.P. Morgan as Tri-Party Collateral Agents, while Pirum will serve as the transmitter of new trade instructions and post-trade lifecycle events on behalf of clients.

Jan Treuren, Senior Director, Product, Cboe Clear Europe, said: “We are excited to build out this new clearing eco-system in collaboration with market participants and are already in advanced discussions with a wide variety of firms, including banks, asset managers, broker-dealers, and Agent Lenders – representing beneficial owners like pension funds and UCITS – to help ensure a smooth launch in the coming weeks and months. This service is supported by our best-in-class risk management framework, offering clients the advantage of Cboe Clear Europe’s extensive settlement experience and broad direct connectivity to 19 European CSDs. Initially, the service will cover key European markets, with plans to expand the offering based on client demand and market developments.”

As a leading pan-European cash equities clearing house, Cboe Clear Europe currently provides its services for 47 trading venues, achieving a record cash equity market share of 37.2%* in Q3 2024. The company enables Clearing Participants to manage their counterparty credit risk and also to maximise operational efficiencies through automated processing and the provision of netting opportunities. It diversified into equity derivatives clearing in 2021 to support the launch of Cboe Europe Derivatives (CEDX), Cboe’s pan-European equity derivatives exchange, which includes equity index and single stock derivatives.

Further information on the company and its services can be found here: clear.cboe.com/europe

*Source: Cboe Clear Europe estimates

About Cboe Global Markets, Inc.

Cboe Global Markets (Cboe: CBOE), the world’s leading derivatives and securities exchange network, delivers cutting-edge trading, clearing and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives and FX, across North America, Europe and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more about the Exchange for the World Stage, visit www.cboe.com.

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Cboe^®, Cboe Clear^®, and Cboe Global Markets^® are registered trademarks of Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.

Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures, digital assets or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with BNY, JP Morgan, and Pirum. Investors should undertake their own due diligence regarding their securities, futures, digital assets, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.

Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities, futures, or digital assets in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.

Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein.

Cautionary Statements Regarding Forward-Looking Information

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as “may,” “might,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential” or “continue,” and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.

We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our dependence on and exposure to risk from third parties; global expansion of operations; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our growth and strategic acquisitions or alliances effectively; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, counterparty, investment, and default risks, associated with operating a European clearinghouse; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing potential conflicts between our regulatory responsibilities and our for-profit status; our ability to maintain BIDS Trading as an independently managed and operated trading venue, separate from and not integrated with our registered national securities exchanges; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; the impacts of pandemics; the accuracy of our estimates and expectations; litigation risks and other liabilities; and risks relating to digital assets, including winding down the Cboe Digital spot market and transitioning digital asset futures contracts to CFE, operating a digital assets futures clearinghouse, cybercrime, changes in digital asset regulation, and fluctuations in digital asset prices. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2023 and other filings made from time to time with the SEC.

We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

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Fintech PR

Ultima Markets Spotlights the Future of CRM Technology at FMLS:24

Published

46 minutes ago

November 25, 2024

CISION (PR Newswire)

ultima-markets-spotlights-the-future-of-crm-technology-at-fmls:24

LONDON, Nov. 25, 2024 /PRNewswire/ — Ultima Markets established itself as a forward-thinking leader within the financial industry at the esteemed Finance Magnates London Summit 2024 (FMLS:24). The summit attracted a diverse group of industry professionals, all eager to explore the transformative trends shaping financial services’ future.

Our booth set a high bar for energy and engagement among the distinguished participants. We transformed the typical expo experience into an immersive showcase for financial enthusiasts. With a vibrant display and interactive offerings, it became the summit’s focal point, attracting a diverse crowd eager to dive into the trading world.

The summit featured various sessions, including interviews, panel discussions, and keynote speeches. Topics ranged from regulatory frameworks to the digital revolution in finance, aimed at sparking conversation and shaping the industry’s future.

Redefining CRM with Artificial Intelligence

Ultima Markets took a prominent role during the summit, with our Vice President of Marketing, Ernest Yiu, delivering a highly anticipated keynote speech on ‘CRM in 2025: The Light at the End of the Funnel’.

Ernest Yiu, Vice President of Marketing, Ultima Markets, speaking at FMLS:24

“The future of CRM was evolving rapidly,” he said, “thanks to AI and machine learning. These tools enabled brokers to predict client needs by analysing behaviours and preferences, allowing us to provide more personalised and proactive service.”

He also stressed the importance of personalisation in client relationships: “At Ultima Markets, we aimed to make clients feel like we were speaking to them directly. We achieved this by segmenting our clients based on factors like trading history and experience level, providing tailored content for each group.”

Ernest’s predictions on the practical applications of AI and machine learning encouraged the audience to reconsider their strategies, highlighting the essential role of innovative CRM solutions in maintaining a competitive edge.

FMLS:24 provided a platform for forward-thinking professionals to address the complexities of the modern financial landscape, where participants like Ultima Markets demonstrated how technology shapes the industry’s future and how companies adapt to these changes.

Ultima Markets remains committed to driving innovation and empowering traders worldwide with cutting-edge tools and insights as the financial industry evolves.

About Ultima Markets

Ultima Markets is a fully licensed, fast-growing broker offering access to over 250+ financial instruments. With a team of more than 2,000 professionals across 15 global offices, we serve clients in 172 countries. For more information about Ultima Markets, please visit us on Facebook, X, Instagram, LinkedIn and YouTube.