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Veritasi Homes Listed on Financial Times Africa’s Fastest Growing Companies 2023

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Lagos, Nigeria–(Newsfile Corp. – May 13, 2023) – Veritasi Homes, a leading Nigerian real estate development company, has been recognised by Financial Times in the annual ranking of Africa’s Fastest Growing Companies of 2023, focused on identifying top performers in Africa’s private sector. This ranking places Veritasi Homes as the only Nigerian real estate company in Africa to make the list.

The company has accomplished this feat by catering to the needs of over 1,000 clients with world-class homes, despite the adverse business climate. Veritasi’s tremendous revenue growth is evident as the company, earlier in the year, became the first indigenous real estate company to earn an international B/Stable rating from Scope Ratings, Europe.

The list of Africa’s fastest-growing companies, compiled by Financial Times in collaboration with Statista, a research and database company, highlights advanced, modern, and thriving businesses in Africa fueling the global economy in the 21st century. It showcases the growth of private companies across different sectors, offering a brief overview of the corporate landscape where technology, Fintech, and other businesses have had to adapt to a significantly challenging environment.

Veritasi Homes has developed a real estate portfolio spanning nine developments. The developments include five luxury residential constructs, Camberwall Advantage 1-5; two affordable housing projects, Camberwall Court 1 and 2; and two site and services projects, ITUNU Residential and ITUNU CITY, to mention a few, within five years of existence.

Nola Adetola, the Chief Executive Officer, commenting happily about the ranking, said, “I can recall when we started in 2017; it took us a few months to get our first set of clients. But now, Veritasi Homes caters to over 1,000 clients with our various mega projects spanning Lekki, all the way down to Aiyetoro, Ibeju-Lekki, Lagos, Nigeria. We are proud to receive another global recognition. The announcement is huge for us. Despite our economic challenges, it reflects our team’s hard work, sweat, and innovative skills. As we celebrate this accolade, expect more from Veritasi Homes.”

Tobi Yusuff, Partner at Veritasi Homes, shared his thoughts following the announcement by Financial Times: “The recognition we have received from Financial Times for the 2023 ranking has us as the only Nigerian real estate company of the 100 companies ranked. The ranking reinforces our belief in excellence and the team’s effort in building the future of Africa’s real estate. As this ranking highlights our diligence, we are further committed to excellence and quality build across our projects.”

Veritasi Homes have established a reputation as a frontier of quality, innovation and technology in the Nigerian real estate space. Veritasi Homes will expand its footprint across Africa in the coming years to serve new markets.

Media Contact:

Company name: Veritasi Homes and Properties
Contact person name: Adetola Nola
Business Phone number: +234 903 016 0016
Email: [email protected]
City: Lagos
Country: Nigeria
Website: https://veritasihomes.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/165339

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Central banks and the FinTech sector unite to change global payments space

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The BIS, along with seven leading central banks and a cohort of private financial firms, has embarked on an ambitious venture known as Project Agorá.

Named after the Greek word for “marketplace,” this initiative stands at the forefront of exploring the potential of tokenisation to significantly enhance the operational efficiency of the monetary system worldwide.

Central to this pioneering project are the Bank of France (on behalf of the Eurosystem), the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York. These institutions have joined forces under the banner of Project Agorá, in partnership with an extensive assembly of private financial entities convened by the Institute of International Finance (IIF).

At the heart of Project Agorá is the pursuit of integrating tokenised commercial bank deposits with tokenised wholesale central bank money within a unified, public-private programmable financial platform. By harnessing the advanced capabilities of smart contracts and programmability, the project aspires to unlock new transactional possibilities that were previously infeasible or impractical, thereby fostering novel opportunities that could benefit businesses and consumers alike.

The collaborative effort seeks to address and surmount a variety of structural inefficiencies that currently plague cross-border payments. These challenges include disparate legal, regulatory, and technical standards; varying operating hours and time zones; and the heightened complexity associated with conducting financial integrity checks (such as anti-money laundering and customer verification procedures), which are often redundantly executed across multiple stages of a single transaction due to the involvement of several intermediaries.

As a beacon of experimental and exploratory projects, the BIS Innovation Hub is committed to delivering public goods to the global central banking community through initiatives like Project Agorá. In line with this mission, the BIS will soon issue a call for expressions of interest from private financial institutions eager to contribute to this ground-breaking project. The IIF will facilitate the involvement of private sector participants, extending an invitation to regulated financial institutions representing each of the seven aforementioned currencies to partake in this transformative endeavour.

Source: fintech.globa

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TD Bank inks multi-year strategic partnership with Google Cloud

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TD Bank has inked a multi-year deal with Google Cloud as it looks to streamline the development and deployment of new products and services.

The deal will see the Canadian banking group integrate the vendor’s cloud services into a wider portion of its technology solutions portfolio, a move which TD expects will enable it “to respond quickly to changing customer expectations by rolling out new features, updates, or entirely new financial products at an accelerated pace”.

This marks an expansion of the already established relationship between TD Bank and Google Cloud after the group previously adopted the vendor’s Google Kubernetes Engine (GKE) for TD Securities Automated Trading (TDSAT), the Chicago-based subsidiary of its investment banking unit, TD Securities.

TDSAT uses GKE for process automation and quantitative modelling across fixed income markets, resulting in the development of a “data-driven research platform” capable of processing large research workloads in trading.

Dan Bosman, SVP and CIO of TD Securities, claims the infrastructure has so far supported TDSAT with “compute-intensive quantitative analysis” while expanding the subsidiary’s “trading volumes and portfolio size”.

TD’s new partnership with Google Cloud will see the group attempt to replicate the same level of success across its entire portfolio.

Source: fintechfutures.com

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MAS launches transformative platform to combat money laundering

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The MAS has unveiled Cosmic, an acronym for Collaborative Sharing of Money Laundering/Terrorism Financing Information and Cases, a new money laundering platform.

According to Business Times, launched on April 1, Cosmic stands out as the first centralised digital platform dedicated to combating money laundering, terrorism financing, and proliferation financing on a worldwide scale. This move follows the enactment of the Financial Services and Markets (Amendment) Act 2023, which, along with its subsidiary legislation, commenced on the same day to provide a solid legal foundation and safeguards for information sharing among financial institutions (FIs).

Cosmic enables participating FIs to exchange customer information when certain “red flags” indicate potential suspicious activities. The platform’s introduction is a testament to MAS’s commitment to ensuring the integrity of the financial sector, mandating participants to establish stringent policies and operational safeguards to maintain the confidentiality of the shared information. This strategic approach allows for the efficient exchange of intelligence on potential criminal activities while protecting legitimate customers.

Significantly, Cosmic was co-developed by MAS and six leading commercial banks in Singapore—OCBC, UOB, DBS, Citibank, HSBC, and Standard Chartered—which will serve as participant FIs during its initial phase. The initiative emphasizes voluntary information sharing focused on addressing key financial crime risks within the commercial banking sector, such as the misuse of legal persons, trade finance, and proliferation financing.

Loo Siew Yee, assistant managing director for policy, payments, and financial crime at MAS, highlighted that Cosmic enhances the existing collaboration between the industry and law enforcement authorities, fortifying Singapore’s reputation as a well-regulated and trusted financial hub. Similarly, Pua Xiao Wei of Citi Singapore and Loretta Yuen of OCBC have expressed their institutions’ support for Cosmic, noting its potential to ramp up anti-money laundering efforts and its significance as a development in the banking sector’s ability to combat financial crimes efficiently. DBS’ Lam Chee Kin also praised Cosmic as a “game changer,” emphasizing the careful balance between combating financial crime and ensuring legitimate customers’ access to financial services.

Source: fintech.global

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