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Experian joins the ASEAN Financial Innovation Network

Vlad Poptamas

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The ASEAN Financial Innovation Network (AFIN) announced today that Experian has joined its Strategic Advisory Council. AFIN is established by the ASEAN Bankers Association, the International Finance Corporation and the Monetary Authority of Singapore. AMTD Foundation and Mastercard are its Corporate Founding Members.

Through its role on the Strategic Advisory Council, Experian will support the overall development of AFIN and its flagship product, API Exchange (APIX). APIX is a global cloud-based platform that enables financial institutions and fintechs to discover one another on a curated global marketplace, design experiments collaboratively in the sandbox and deploy innovative solutions rapidly at a lower cost.

Experian has a broader strategy to accelerate financial access, invest in digital transformation and provide better credit access to a wider group of individuals and small businesses in the ASEAN region. Together Experian and the Strategic Advisory Council will accelerate the financial ecosystem to become API-ready across Asia Pacific.

Experian joins six other organisations on the Strategic Advisory Council: AMTD Foundation, Mastercard, BNY Mellon, Amazon Web Services, Singapore Fintech Association and Brankas.

AFIN is carefully selecting strategic partners to join the Strategic Advisory Council with more announcements to be made over the coming months.

“We are thrilled to have Experian join APIX on the Strategic Advisory Council and look forward to working with them closely. Experian’s capabilities to enhance digital transformation and their experience in the ecosystem will be a big advantage for APIX and all its members,” said Manish Diwaan, Managing Director of AFIN.

“It is a great honour for Experian to be a part of the AFIN Strategic Advisory Council. This provides us a platform to actively collaborate with other members of the council to shape the overall financial innovation ecosystem and accelerate our vision of driving greater financial inclusion across the region. This also represents a validation of Experian’s strategic regional investments in the recent past and our ongoing R&D efforts with our Singapore-based APAC innovation facility – Experian X Labs, reaffirming our commitment to be an agent of responsible change in APAC,” said Ben Elliott, CEO Asia-Pacific of Experian.

“The financial services industry is at a pivotal stage with traditional financial institutions’ erstwhile linear value chain transforming into different unbundled value creation ecosystems with the advent of open banking. We are excited about the opportunity to play a leading role in the transformation of the financial sector, helping organisations to embrace the next wave of financial market development and customer-centric value creation,” he added.

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2020 Crypto World Summit “The Future of Security Tokens” to Address Latest Blockchain Developments with Leading Industry Experts

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New York, NY, Jan. 23, 2020 (GLOBE NEWSWIRE) — (via Blockchain Wire) Leading experts in the digital money sector will gather at the Crypto World Summit in New York on February 20, 2020 to discuss the latest developments in security token offerings and digital assets, amongst other rising blockchain and alternative financing topics.

The most current SEC laws, rules, regulations, and compliance will be addressed at this 4th International Conference and Workshop streamed live on Fintech World Media.

This premier event features speakers and attendees from a wide range of sectors, attracting a who’s who of the industry.  Other top discussions include: The Future of Bitcoin, The Digital Banking Industry, Blockchain and Real Estate, The ETF Cryptocurrency Market, DAO, Ethereum Investment, and Cannabis Banking Solutions. 

Additionally, a special workshop will give participants a step-by-step walkthrough for creating a security token and running a security token offering (STO).

Crypto World Summit will also offer private VIP networking opportunities. For speaking, sponsorship, tickets, and group discounts contact 2020Fintech at +1 (888) 580-6610 or www.2020fintech.com

Blockchain Wire is the official wire service for Crypto World Summit. Receive 40% discount. Enter promo code “blockchainwire” Register here.

Contact:
2020Fintech
+1 (415) 879-1500
info@2020fintech.com
2020Fintech.com

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BitPay Taps Simplex to Make BitPay App an All-In-One Solution

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Atlanta, Jan. 23, 2020 (GLOBE NEWSWIRE) — BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, today announced a partnership with Simplex, the best-in-class processor of fiat-to-crypto transactions, that gives BitPay app users the ability to buy Bitcoin and other supported cryptocurrencies directly in app with a credit card. Users can now buy cryptocurrency, transfer funds, make purchases, buy gift cards and pay friends around the world all from a single app.   

With the addition of Simplex’s credit card purchasing, BitPay aims to improve the overall user experience of the BitPay app. By eliminating the need to navigate a cryptocurrency exchange to fund payments, the company anticipates increased value to users, especially for new users unfamiliar with the space.

BitPay CEO and Co-Founder Stephen Pair said, “Cryptocurrency exchanges can be intimidating for new users. The Simplex integration, however, makes the blockchain payment experience seamless.” Pair added, “Whether converting fiat to crypto to make crypto payments, or converting crypto to fiat to pay with the BitPay card, the BitPay app is an all-in-one solution.”

“A real breakthrough in usability can only be achieved when the leading crypto payment app meets the leader in fiat infrastructure for crypto. We are proud to launch this partnership with BitPay and will work together to add more innovative solutions in the future,” added Nimrod Lehavi, Simplex founder and CEO.  

Simplex, an EU licensed fintech company, is the industry choice for providing fraud-free cryptocurrency purchases via credit card. They list among their many clients industry leaders such as Binance, Bithumb, Xapo and Changelly. Their processing services eliminate fraud and ensure regulatory compliance, in part, by using AI technology to analyze each transaction with proprietary machine-learning algorithms. The Tel Aviv-based company was founded in 2014.

About BitPay

Founded in 2011, BitPay pioneered blockchain payment processing with the mission of transforming how businesses and people send, receive, and store money. Its business solutions eliminate transaction fraud, reduce the cost of payment processing, and enable borderless payments in cryptocurrency and fiat, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Visa® Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth. For more information visit bitpay.com.

The BitPay Visa® Prepaid Card is issued by Metropolitan Commercial Bank, member FDIC, pursuant to a license from Visa, U.S.A. Inc. “Metropolitan” and “Metropolitan Commercial Bank” are registered trademarks of Metropolitan Commercial Bank © 2014. Use of the Card is subject to the terms and conditions of the applicable Cardholder Agreement and fee schedule if any.

Jan Jahosky
BitPay
407-331-4699
jan@bitpay.com Dan Edelstein
Simplex
+972-545-464-238
pr@marketacross.com

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Digital wealth manager Kristal.AI raises 6 million in Series A funding

Vlad Poptamas

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Kristal.AI Founders & Co-founders

 

Kristal.AI is a 4-year old invest-tech startup which uses a bionic approach to personalize investments. The company started its business in Hong Kong since 2016 and now it is planning to use its Series A funding, to bring its AI-driven personalized wealth platform to more countries in APAC regions.

Artificial Intelligence has long been hailed as the future of fintech, and Singapore-based digital wealth management platform Kristal.AI is proving that maxim true. The company, started by Indian entrepreneurs, has offices in Hong KongSingapore, and India. Kristal.AI is celebrating its 4-year anniversary in January 2020, after closing last year with a sizable Series A round of USD 6 million (upsized from an initial target of USD 4 million).

The funding round is led by long-term partners Chiratae Ventures (formerly IDG Ventures India) and influential names such as Desai Family Office, which has interests ranging from fintech to boutique investments. Other investors include HNWI names well known in the financial industry. This round brings the total Kristal.AI has raised till date to USD 11 million.

Financial technology has been evolving rapidly over the past decade. Despite the relatively small Hong Kong market, innovative technology companies have continued to emerge with the vigorous promotion of the government. Kristal.AI has also benefitted from the support provided by the Cyberport Incubation program and SFC Fintech Unit when commencing business here.

Hong Kong-based Co-founder of Kristal.AI Vivek Mohindra said, “Kristal.AI fulfils a much-needed gap in the HK market for the beginner and smaller investors who really don’t have much choices at present. We provide a digital mobile friendly solution that is educational and free of cost till HKD 400,000.” Hong Kong customers are now looking for smart investment platforms with higher transparency, lower fees, and other value-added services. The HKMA has recently released a report on the application of artificial intelligence in the banking industry, showing that nearly 90% of retail banks have used or plan to use artificial intelligence in their businesses.

Kristal.AI’s CEO and founder Asheesh Chanda added, “The aspirational class today does not live in boxes. We don’t work at the same job until retirement, we don’t all marry and buy houses at thirty, and most of us have a very different way of living than the generation before. However, the way we invest has not evolved with our evolving lifestyles. The new-gen investor needs strategies personalized for their individual risk profile, lifestyle, and expectations. Traditional banks offer such hyper-personalization only to high-profile clients, but we are bringing it to the everyman. Kristal.AI’s strategies are made for the new-age global investor.

Kristal.AI will use the Series A funds towards bolstering its technology backend, crafting more curated strategies (called Kristals), and expanding further into the APAC and Middle-East market. The company is also poised to launch a new offering for its Indian market very soon.

Since officially launching in February 2016, Kristal.AI has experienced consistent growth and currently handles overUSD 100 million in AUM, with 10,000 users on its platform. The company’s custom-crafted strategies have provided consistent returns to investors even in volatile markets, with both its Leveraged Bond Kristal and Singapore REITs Kristal achieving around 14% returns historically.

 

SOURCE Kristal.AI

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