Fintech PR

Global Fintech Fest 2024 Showcases Wide Spectrum of Innovations

Published

3 months ago

August 31, 2024

Three-Day Mega Event Concludes, Attracting 300 exhibitors from across the world, 100000 Footfalls, 1000 Speakers

MUMBAI, India, Aug. 31, 2024 /PRNewswire/ — India’s Union Minister of Commerce and Industry Mr. Piyush Goyal said on Friday that the Indian fintech ecosystem had turned into a hotbed for innovation. Addressing the Global Fintech Fest 2024 in Mumbai, he said, “As our country is poised to become the third largest economy, the success story of a developed India rests on the wonderful work being done by fintech sector.”

The Global Fintech Fest (GFF) 2024 was presented by the Ministry of Electronics and Information Technology (MeitY), Ministry of External Affairs, Department of Financial Services (DFS), Reserve Bank of India (RBI) and International Financial Services Centres Authority (IFSCA). The conference was jointly organised by the Payments Council of India (PCI), the National Payments Corporation of India (NPCI), and the Fintech Convergence Council (FCC).

GFF 2024 featured over 1000 speakers from 70 countries, more than 350 sessions, over 60 product launches, more than 300 exhibitors, and attracted 100,000 footfalls over the three days.

The Global Fintech Fest (GFF) 2024, one of the world’s largest fintech gatherings, concluded here on Friday, August 30, showcasing emerging opportunities and issues in the sector. The three-day event, in its fifth edition, brought together global policymakers, regulators, central bankers, industry leaders, and academicians to explore the future of financial technology, aligned with this year’s theme- ‘Blueprint for the Next Decade of Finance: Responsible AI | Inclusive | Resilient’.

In his keynote at the conference, Mr. Shaktikanta Das, Governor, Reserve Bank of India, said, “India is now a fast-growing economy, economic powerhouse with an increasingly tech savvy population. India’s financial sector has witnessed a remarkable transformation, driven, among other factors, by the FinTech sector.”

Mr. Das further emphasized India’s engagement in international fora and bilateral agreements to foster economic cooperation with many countries and said, “Going forward, strengthening financial infrastructure, including cross-border payment systems, will be our key focus areas. India, with its tech talent and evolved financial fintech ecosystem, holds potential to serve as a global hub for digital innovation and fintech startups.”

Mr. Christopher Waller, Member, Federal Reserve Board of Governors of the United States in his address, highlighted the potential role of public and private sectors in advancing cross-border payments. Commenting on the practical aspects of interlinking fast payment systems, Mr Waller said, “Domestic networks need to be developed first. If this condition is not in place, interlinked networks could end up being a road to nowhere.”

Highlighting Federal Reserve’s efforts, Mr Waller added, “We will continue our engagement with international fora to improve the speed and efficiency of cross-border payments and to investigate the issues critical to interlinking payment systems. Our chief focus in the near-to mid-term, however, is continuing to build the FedNow network domestically and increasing participation in the service.”

In a special address on emerging trends in sustainable finance, Mr. Allen Forlemu, Regional Industry Director, Financial Institutions Group, Asia and Pacific, International Finance Corporation (IFC) discussed the critical role of fintech in driving sustainable finance, emphasizing its importance for a greener and more equitable future. “Looking ahead, it is clear that collaboration will be essential and fintech companies, traditional financial institutions, governments and regulators must work together to scale sustainable finance solutions and amplify positive impact on sustainability”, remarked Mr Forlemu.

He further said, “At IFC, we are optimistic, and we believe that by investing in innovation and fostering collaboration across sectors, we can build a financial system that is inclusive, resilient and sustainable for everyone.”

Discussing ‘Recent Developments in Digital Finance – Experiences from German and EU Regulation,’ Dr. Florian Toncar, Parliamentary State Secretary, German Federal Ministry of Finance, commented, “India has shown immense capacity to innovate and spread new technologies at an impressive speed, with UPI being popular far beyond Indian borders.”

Highlighting the importance of cooperation between security agencies and anti-money laundering agencies, Dr Toncar added, “Appropriate resourcing of prosecutors or police, specialized financial investigators, and information exchange across borders and countries is key.”

In his special address, Mr. Harjinder Kang, His Majesty’s Trade Commissioner for South Asia and the British Deputy High Commissioner for Western India, UK Department for Business and Trade, said, “UK finds India as a very important partner, and it’s not just in fintech, but across different sides of the business.”

During a panel on ‘Innovation in Fintech Regulation: Balancing Innovation and Regulation in Global Financial Services,’ Mr. Ryosuke Ushida, Chief Fintech Officer, Financial Services Agency of Japan provided insights into the country’s regulatory landscape and said, “In Japan, our regulatory scope covers a wide range of financial institutions, including banks, insurance companies, investments, and currency exchange. A key focus has been on blockchain technology, in response to past challenges, particularly incidents involving exchanges in Tokyo. Japan has established a comprehensive regulatory framework for the crypto industry.”

Mr. Ushida further emphasized that these regulations are designed not only to protect the industry but also to create a stable environment that encourages innovation. “The goal is to support the growth of international tech companies and ensure that Japan continues to lead in this field, in line with global counterparts”, he added.

Addressing the session on ‘The Role of Technology in Shaping the Future of Global Finance,’ Mr. Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore, said, “The challenges of integrating DPIs across borders—from pricing to technical standards—are significant. Initiatives like Project Nexus are underway to tackle these issues, but achieving seamless connectivity across different markets will take time.”

Mr. Mohanty added, “Fintech must expand beyond payments and lending to include other asset classes such as wealth advisory and capital market infrastructure.”

GFF 2024 also featured a significant global presence, with numerous international leaders contributing to the dialogue on the future of fintech. Among the notable speakers were Mr. Camilo Tellez-Merchan, Deputy Managing Director, UN based Better Than Cash Alliance, United Nations; Mr. Alan Lim, Director, FinTech Infrastructure Office, Monetary Authority of Singapore; Mr. Paul van Sint Fiet, Head of APAC cross-currency solutions, J.P. Morgan Payments; Mr. Edward Bass, Inward Investment Manager, UK Department for Business and Trade; Mr. David Finch, Global Managing Director Fintech, TransUnion CIBIL, and Mr. Jan Pilbauer, Chief Executive Officer, Al Etihad Payments.

The event also saw eminent leaders from the Indian fintech ecosystem. For more information about the conference, visit: Global Fintech Fest 2024.

For further information, please reach out to:
Vipin Chanddra, APCO: +91-9582 731432
Kuldeep Singh, APCO: +91- 97113 06379

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Fintech

Doo Financial Now in Indonesia: Offering Local Investors A Gateway to Global Markets

Published

2 minutes ago

November 15, 2024

Wladimir P.

doo-financial-now-in-indonesia:-offering-local-investors-a-gateway-to-global-markets

Doo Group’s brokerage brand, Doo Financial is thrilled to announce its expansion into Indonesia by acquiring a reputable Indonesian broker to expand the business. This move brings its global investment services to local investors. Backed by the strength of Doo Group’s extensive international presence, cutting-edge technology, and 10 years of expertise, Doo Financial is well positioned to support investors at every level.

As a brand encompassing investment services offered by various legal entities within the Doo Group, Doo Financial provides a comprehensive range of global brokerage services. This wide range of products empowers investors to pursue their financial goals.

With a diversified portfolio, Doo Financial empowers investors to navigate various market conditions effectively, manage risks, and focus on long-term growth. This entry into the Indonesian market reflects Doo Financial’s commitment to supporting investors with flexible, high-quality investment options tailored to today’s dynamic financial landscape.

Supervision by International Regulatory Institutions to Ensure Top-Tier Safety

As a global leading finance group, Doo Group has licensed entities regulated by top regulatory authorities worldwide, ensuring a secure and reliable trading environment.

Our global credentials include licenses from the U.S. Securities and Exchange Commission (US SEC), the Financial Industry Regulatory Authority (US FINRA) in the U.S., the Financial Conduct Authority (UK FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Hong Kong Securities and Futures Commission (HK SFC), Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI) in Indonesia. These licenses enable us to provide secure and reliable financial services globally.

Dedication to Shape the Industry with Innovative Solutions

Doo Financial’s expansion into Indonesia brings advanced technology and a global perspective to empower local investors. As an international investment firm committed to secure and seamless trading, Doo Financial offers a diverse range of products and services to help diversify portfolios and open up new opportunities.

This growth elevates opportunities for Indonesian investors by offering seamless access to global markets and advanced trading platforms within a secure and regulated environment. It broadens investment choices and enhances the trading experience, aligning it with international standards and empowering local investors with comprehensive tools and resources for success.

Driven by unwavering commitment, this growth marks a significant milestone in Indonesia’s investment landscape, equipping our clients with the tools to navigate global markets. We remain dedicated to delivering exceptional service, exploring new opportunities, and driving future breakthroughs. With continued support from the FinTech community, we are excited to innovate and shape the future of finance.

Stay updated with the latest insights from Doo Financial. Join our community of empowered investors and let us be your trusted partner!

E-mail: [email protected]

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Fintech PR

Doo Group Strengthens Global Reach with CySEC License for Doo Financial

Published

2 minutes ago

November 15, 2024

CISION (PR Newswire)

doo-group-strengthens-global-reach-with-cysec-license-for-doo-financial

LIMASSOL, Cyprus , Nov. 15, 2024 /PRNewswire/ — Doo Group is proud to announce that Doo Financial, one of its brands, has been awarded a new license by the Cyprus Securities and Exchange Commission (CySEC). This achievement strengthens Doo Group’s commitment to providing a secure and regulated trading environment for its clients globally.

Expanding Regulatory Reach

The addition of the CySEC license highlights Doo Group’s extensive regulatory framework, which already spans across multiple financial jurisdictions, including the United Kingdom, Australia, Hong Kong and Malaysia. This strategic milestone reflects Doo Group’s dedication to ensuring compliance with international regulatory standards and prioritizing client security. As a European Supervisory Authority, CySEC offers a robust regulatory environment and is expected to enhance client confidence. For Doo Group, this new regulatory milestone reinforces its reputation as a trusted, reliable financial services provider.

“Acquiring the new license from CySEC is a significant milestone for Doo Financial, marking a key step in our ongoing growth and strategic expansion. This achievement not only reinforces our commitment to maintaining the highest standards of regulatory excellence but also solidifies our position as a trusted, reliable financial institution within Europe. By aligning with CySEC’s rigorous requirements, we are better positioned to offer enhanced services to our clients, foster greater transparency, and ensure long-term stability in an increasingly complex and dynamic financial landscape.” Costas Kappai, Doo Financial EU

Strengthening Client Confidence

Doo Financial EU, the European branch of Doo Financial, is now positioned to serve clients across Europe under the guidelines of a European Supervisory Authority. European clients will benefit from CySEC’s regulatory protections, including client fund safety and transparent business practices, ensuring a secure and trustworthy trading experience. This development allows Doo Financial EU to offer its suite of financial services and trading products to a wider audience, backed by the credibility and oversight of CySEC.

By expanding its regulatory reach, Doo Group continues to strengthen its position in the global financial market, enabling clients to trade with confidence. The CySEC license is another step toward achieving Doo Group’s vision of becoming a leader in financial services.

About Doo Group

Founded in 2014 and headquartered in Singapore, Doo Group is an international financial services provider with a focus on FinTech. With operations across 10 major business lines—including Brokerage, Wealth Management, Payments, and Digital Marketing—we are dedicated to delivering comprehensive financial solutions that empower our clients to explore a better future.

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Fintech PR

PayerMax Recognized as “Best Payment Service Provider” by MEA Finance

Published

1 hour ago

November 15, 2024

CISION (PR Newswire)

payermax-recognized-as-“best-payment-service-provider”-by-mea-finance

DUBAI, UAE, Nov. 15, 2024 /PRNewswire/ — PayerMax, a leading global provider of payment solutions, has been named Best Payments Solutions Provider of 2024 by MEA Finance magazine at an award ceremony hosted on November 12 in Dubai. The award is a testament of PayerMax’s success in providing exceptional financial technology services to clients in the Middle East and Africa, as well as its leadership position in payment solutions.

The annual MEA Finance Industry Awards recognizes the financial institutions, technology solutions providers, fintech companies, service providers and individuals for exceptional achievements, groundbreaking services and inspirational leadership in delivering innovative products and services.

“We’re very honored to receive the award. It not only recognizes the success of our innovative technologies and regional strategies, but also it is the perfect testimonial of how our team thrives to create superior values for our clients, and we look forward to more cooperation with more partners,” said Wang Hu, co-founder of PayerMax. “Looking ahead, PayerMax remains committed to further strengthening our presence and deepening our efforts in the Middle Eastern market. We will continue to empower more businesses and enhance the digital payment ecosystem across regions, driving value and growth for clients around the world.”

In 2024, PayerMax achieved major milestones in the Middle East market. In alignment with Saudi Arabia’s Vision 2030, PayerMax became the first Asian fintech company to establish a regional headquarters in Riyadh and obtained the Payment Technical Service Provider (PTSP) certification from Saudi Payments on behalf of the Saudi Central Bank (SAMA) in September. This certification allows PayerMax to operate seamlessly within Saudi Arabia’s financial ecosystem, providing merchants across the country with secure, flexible, and efficient payment solutions. The company has also formed partnerships with leading banks such as SAB and Emirates NBD, advancing the digital twin ecosystem while supporting financial inclusion, economic diversification, and an enhanced user experience through digital payments in the region. Furthermore, as the first Asian fintech company to secure the UAE’s payment license, PayerMax is strengthening its presence and expanding operations across the Middle East.

Beyond the Middle East, PayerMax’s achievements in 2024 were globally recognized. In May, PayerMax was awarded the 2024 “Best Payments and Collections Solution” award from The Asset in the prestigious “The Asset Triple A Awards.” With an impressive 95% coverage of mainstream payment methods in emerging markets, PayerMax continues to build on its vision of providing innovative payment solutions worldwide.

PayerMax is committed to providing businesses with one-stop local payment solutions to meet their diverse payment needs. Its extensive network supports a wide range of over 600 payment methods, more than 70 transaction currencies, and over 20 local languages, catering to diverse global user payment preferences. With a vision to drive merchant success on a global scale, PayerMax offers an array of value-added services, including risk management, foreign exchange management, payment marketing (webshop), and finance & tax services, constructing a comprehensive environment for merchants to excel in a competitive global marketplace and handle the intricacies of globalization with ease.

Looking ahead, PayerMax is committed to staying at the forefront of the evolving digital payment landscape. The company will continue to invest in technological innovation and service enhancements to deliver increased value and opportunities to its customers. By doing so, PayerMax aims to empower global business expansion and facilitate the transition to a cashless society. For more information, please visit https://www.payermax.com/.