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Fintech

Two Raiffeisenlandesbanks Go Live with Intellect’s Digital Trade Finance Solution

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Intellect Global Transaction Banking (iGTB), the transaction banking and technology specialist from Intellect Design Arena Limited, the fastest growing Fintech product company with the CAGR of more than 24% over past four years, has implemented iGTB’s SWIFT certified, Digital Trade Finance platform for Raiffeisenlandesbank Niederösterreich-Wien AG and Raiffeisen-Landesbank Steiermark AG. iGTB has helped to centralise trade finance IT operations across the Raiffeisen Sector with a single instance implementation of the solution based on a single source code.

Austria, with its highly developed banking sector, provides a well-connected banking network that consists of nearly 600 banks, making it one of the densest in Europe. Regulator Oesterreichische Nationalbank has encouraged digitalisation. Now, Raiffeisen, Austria’s leading group of banks, is doubling down on digitisation by providing innovative customer-centric solutions.

Following Raiffeisen Bank International, Raiffeisenlandesbank Niederösterreich-Wien and Raiffeisen Landesbank Steiermark – both ranking in the top ten Austrian commercial banks –can now offer higher STP rates for incoming trade finance SWIFT messages, automate correspondence, provide letters of credit, documentary collections and guarantee commitments online and provide periodic charging and settlement options for customer accounts. The iGTB’s Digital Trade Finance platform will increase operational efficiency by automating even complex (yet mission-critical) functions such as third-party three-layer letter of credit and guarantee transactions and accounting entry processing through respective core applications. Business processing operations for multiple trade finance functions like refund of charges and routing of payments transactions are also automated.

Mr. Felix Mayr, Head of Transaction Banking, Raiffeisenlandesbank Niederösterreich-Wien AG said: “Going live with iGTB’s Digital Trade Finance platform is an important step for our customers and our bank. iGTB’s technology helps us to harmonize the trade finance processes across the Raiffeisen Sector and will thus reduce complexity and overall costs. The platform is flexible enough to accommodate customer demands of all kinds and we are very excited about the implementation of the new digital customer front-end attached to iGTB’s Digital Trade Finance back-end solution.

Mr. Hannes Meixner, Head of Trade Finance, Raiffeisen-Landesbank Steiermark AG said: “We will be able to deliver a scalable and automated trade finance solution that removes bottlenecks for our clients both domestic and international and enables their sales with minimal cross-border issues. We are convinced that iGTB’s Digital Trade Finance platform has helped us to strengthen our current offering in the market.”

Manish Maakan, CEO of iGTB said: “iGTB’s Digital Trade Finance platform is ready for the next generation of banking, and is bringing an efficient way for risk management and reduced operational risk for the bank. Our product seamlessly integrates with the bank’s existing systems – more than 10 interfaces are operational – maximising the automation of processes like accounting entries in core, using the payment and posting interfaces. In total, we have implemented 65 user journeys in trade finance business for the Austrian Raiffeisen Sector. With other three regional Raiffeisenlandesbanks expected to go live by November 2019, Raiffeisen will be further enabled by a single Digital Trade Finance platform, enabling them to deliver consistent, superior customer experience across the whole country.”

 

SOURCE Intellect Design Arena Limited

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Fintech

Plug and Play and GIFT City Launch “IFIH,” a Global Fintech Incubator and Accelerator

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Plug and Play, a global accelerator platform and one of the most active early-stage investors globally, has announced a strategic partnership with Gujarat International Finance Tec-City (GIFT City). Through the partnership, Plug and Play will establish and run the International Fintech Innovation Hub (IFIH), GIFT City’s FinTech Incubator and Accelerator, which aims to foster research and innovation in financial technology, reinforcing GIFT City’s role as a premier global fintech hub.

GIFT City’s MD and Group CEO, Mr. Tapan Ray, said, “Our vision at GIFT City is to drive fintech innovation by creating a climate-resilient, inclusive ecosystem that empowers diverse entrepreneurs and builds workforce competitiveness in emerging technologies. With the support of prominent partners in fintech education and incubation, we are committed to nurturing a new generation of talent that will be well-equipped to meet the needs of an evolving global economy.”

Manav Narang, Head of Financial Services for Plug and Play APAC and Program Lead for the GIFT Incubator and Accelerator added, “We are thrilled to bring Plug and Play’s global expertise to GIFT City. Our vision is to create India’s largest industry-wide fintech program – a collaborative platform where banks, payments corporations, venture capital and corporate venture capital firms, accelerators, and ecosystem partners unite. Together, we aim to catalyze transformative fintech solutions and nurture fintech unicorns that will shape the future of finance in India.”

The program will support fintech startups with resources, mentorship, capital, and networking to navigate and excel globally in the dynamic fintech landscape. The first batch of startups will be unveiled in January 2025.

The post Plug and Play and GIFT City Launch “IFIH,” a Global Fintech Incubator and Accelerator appeared first on .

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

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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.

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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 Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation

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Fintech is on an accelerated trajectory of investment, collaboration, and innovation. This pulse tracks the most significant developments in the sector, from high-profile investments to global platform expansions. Each update in this briefing serves as a key indicator of where the industry is headed.


1. European Fintechs Face Regulatory Pressures Amid New Investment Surge

The European fintech sector finds itself at a crossroads with increasing scrutiny and rising costs due to stringent regulations. While investments continue to flow into the continent’s financial technology companies, challenges in meeting new compliance requirements, especially around data privacy and cybersecurity, create a complex landscape for scaling. This tension between opportunity and operational limitations might affect European fintechs’ growth strategies.

Source: Financial Times


2. Shopify, Slack Founders Join Peter Thiel in Fintech Investment Push

Tobi Lütke of Shopify and Stewart Butterfield of Slack, along with investor Peter Thiel, have co-invested in a new fintech initiative that aims to bolster small business access to capital. By merging technology with a streamlined funding model, this new initiative targets underserved SMBs, highlighting a broader trend of high-profile tech leaders pivoting to fintech investment. The participation of Lütke and Butterfield signals increased cross-sector collaboration in fintech, bringing expertise from e-commerce and communication technology into the financial arena.

Source: Yahoo Finance


3. Lean Technologies Raises $67.5 Million to Drive Fintech Innovation in the Middle East

Riyadh-based fintech platform Lean Technologies recently secured a $67.5 million Series B investment round, aiming to expand its operations across the Middle East. This funding reflects growing investor interest in emerging markets and the potential of Middle Eastern fintech to bridge regional gaps in financial services access. As Lean Technologies broadens its service offerings, the funding will support further technological integration and scalability across financial ecosystems in the region.

Source: Fintech Global


4. Apollo Global Management Invests in Fintech for Private Offerings Support

Apollo Global Management has taken steps to enhance its services for private offerings by investing in specialized fintech solutions. This development signifies a growing trend among private equity firms to adopt fintech as a core component in their service expansion, particularly for personalized client services. Apollo’s strategy of integrating fintech solutions into private offerings marks a strategic shift toward digitalization within traditional financial sectors.

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Source: Bloomberg


5. Juniper Research Names 2025’s Future Leaders in Fintech

Juniper Research has revealed its picks for the top future leaders in fintech for 2025. This list emphasizes innovation in fields such as AI, open banking, and decentralized finance, highlighting startups that exhibit potential for reshaping industry standards. As these up-and-coming firms push the boundaries of traditional finance, they exemplify the rising tide of next-generation financial technology poised to become industry mainstays.

Source: Globe Newswire


Conclusion

The convergence of seasoned tech giants with fintech, new funding rounds for region-specific platforms, and the rise of future industry leaders underscore the momentum of the fintech sector. Each of these stories reflects a broader narrative: fintech is not only diversifying in services but also rapidly integrating into traditional finance and tech, paving the way for a transformative era.

 

The post Fintech Pulse: Evolving Fintech Investments and Partnerships Signal Industry Transformation appeared first on HIPTHER Alerts.

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