Newgen’s platform for Trade Finance, designed by industry experts, emerges as a game changer for banks

NOIDA, India, May 13, 2024 /PRNewswire/ — Newgen Software, a global provider of a low-code platform for end-to-end automation at scale, announced that it has been named in the Gartner® Market Guide for Commercial Banking Cash Management and Trade Finance Solutions, 2023 report.

Gartner describes global banking cash management and trade finance solutions as “capabilities that support end-to-end business and product processes, a consistent operating model, and client services in the corporate treasury and working capital domains.” The report will help bank CIOs gain insights into the vendor solutions available in the market.

Newgen’s Trade Finance Solution, built on the NewgenONE low-code platform, offers transaction origination, transaction processing, and document management capabilities. The Swift-Compatible Solution enables commercial banks to comply with the latest Swift standards and enriches the journey orchestration for both customers and internal bank users.

“Newgen excels in delivering operational excellence and unifying customer experience with its advanced trade finance solution. We believe this Gartner recognition reaffirms the critical role our innovative solutions play in creating a connected digital ecosystem and fulfilling the unique requirements of our commercial clients,” said Runki Goswami, Global Head of Marketing at Newgen Software.

Disclaimer: GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product, or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner’s research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Newgen Software Technologies Ltd.

Newgen is the leading provider of a unified digital transformation platform with native process automation, content services, communication management, and AI/ML. Globally, successful enterprises rely on Newgen’s industry-recognized low-code application platform to develop and deploy complex, content-driven, and customer-engaging business applications. Newgen unlocks simple with speed and agility.

For more details, visit www.newgensoft.com

Media Contact: [email protected] 

Logo: https://mma.prnewswire.com/media/2106118/Newgen_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/newgen-recognized-in-the-gartner-market-guide-for-commercial-banking-cash-management-and-trade-finance-solutions-2023-report-302143256.html

BEIJING, May 13, 2024 /PRNewswire/ — The second Sunday of May marks the Mother’s Day, a day when people around the world appreciate and honor mothers.

Chinese President Xi Jinping’s mother Qi Xin believes that one of the most pressing concerns for any parent is the growth of their children. “If something goes wrong with the children, the parents bear undeniable responsibilities,” she once said.

She once fully transcribed a motto passed down from the Ming Dynasty to the present day, which roughly says that justice is the only way to distinguish right from wrong, and integrity is the only way to establish one’s authority.

The motto marked Qi’s teaching for her son.

Importance of integrity

After Xi took on leadership roles, his mother once arranged a family meeting to ask her other children not to engage in business activities in the areas where Xi worked.

Influenced by his mother, Xi would warn his friends and relatives not to do any business in the places where he worked, nor do anything under his name.

Xi has incorporated these beliefs into his governance practices.

In January, Xi called for fostering stronger family ties, values and traditions, at the third plenary session of the 20th Communist Party of China Central Commission for Discipline Inspection, saying that leading officials must maintain integrity and set strict rules for their relatives and children.

Public awareness initiatives to promote the principle of integrity and cases of models in this regard are also required to foster public respect for integrity and bolster resistance to corruption, he added.

Virtue of thrift

Promoting the virtue of thrift is another important family tradition of Xi as his mother has always maintained a simple lifestyle.

Under the influence of the family traditions, Xi also lives a simple life and does not hold high standards on what he wears or eats.

Xi has attached great importance to food security as well as the virtue of thrift. He has repeatedly called for promoting the social custom of practicing thrift and opposing waste.

Calling the issue of food waste shocking and distressing, he has stressed the need to resolutely putting an end to wasting food and called for promoting thrift in 2020.

To curb the bad practice of food wastage, China launched a comprehensive “Clear Your Plate” campaign in recent years, with restaurants and canteens displaying anti-food waste posters and banners and media publishing content that promotes the virtue of frugality.

“The habit of thrift and frugality should be preserved; in my family to this day, for what is served in the bowl, not a single grain of rice can be wasted,” he told deputies from Shandong Province at the first session of the 13th National People’s Congress in 2018.

https://news.cgtn.com/news/2024-05-12/Integrity-and-thrift-Uncovering-Xi-Jinping-s-family-traditions-1txZov8OtSE/p.html

View original content:https://www.prnewswire.co.uk/news-releases/cgtn-integrity-and-thrift-uncovering-xi-jinpings-family-traditions-302143202.html

SINGAPORE, May 13, 2024 /PRNewswire/ — XREX Singapore, a blockchain-enabled financial institution specialising in cross-border payments in emerging markets, announced today that it has obtained the Major Payment Institution (MPI) Licence from the Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator. This comes after it received its in-principle approval from the MAS in November last year.

Commenting on XREX’s engagement with the MAS, XREX Singapore Chief Executive Officer (CEO) Christopher Chye said, “Our engagements with the MAS have repeatedly shown us why they are internationally revered as a leading central bank and financial regulator. With this licence in hand, XREX Singapore will endeavour to bring blockchain-enabled digital payment currencies to ubiquity.”

XREX Singapore facilitates frictionless cross-border payments for import and export transactions, particularly for small-medium businesses (SMBs) in emerging markets. This strategic emphasis aligns with XREX’s mission to foster financial inclusion in emerging markets.

“The MPI licence is a testament to our unwavering commitment to the highest regulatory compliance standards. We look forward to working with one of the world’s leading regulators to make blockchain finance safe and accessible to the general public,” said XREX Co-founder and Group CEO Wayne Huang.

XREX Singapore will launch XREX Pay, a platform providing cross-border B2B payment features for corporates, as well as remittance solutions, such as helping migrant workers send money home. XREX Pay will support Singapore Dollar (SGD) and U.S. Dollar (USD) payment rails and stablecoins such as USDT and USDC, all while demonstrating a robust and practical implementation of the Financial Action Task Force (FATF) travel rule.

XREX Singapore’s licence encompasses a total of six payment services, namely:
i) Account issuance service;
ii) Domestic money transfer service;
iii) Cross-border money transfer service;
iv) Merchant acquisition service;
v) E-money issuance service; and
vi) Digital payment token service.

“XREX is approved for six of the seven payment services under the MPI licencing regime. With XREX Singapore as the group’s Asia Pacific headquarters, XREX looks forward to expanding its partnership with major banks, credit card institutions, and payment institutions to build next-generation financial systems that integrate traditional and blockchain finance,” said XREX Co-founder and Group Chief Revenue Officer Winston Hsiao.

About XREX

XREX Singapore is an MAS-regulated financial institution that leverages blockchain technology to make cross-border payments faster, cheaper, and safer for businesses globally. Its proprietary escrow payment feature, BitCheck, empowers enterprises to switch flexibly between digital currencies, stablecoins, or traditional currencies, thereby ushering their businesses into the new era of digital money. XREX Singapore also specializes in working with emerging markets businesses to help solve their issues with USD liquidity access.

XREX Group, is a blockchain-enabled financial institution working with banks, regulators, and users to redefine banking together. It provides enterprise-grade banking services to small to medium-sized businesses (SMBs) in or dealing with emerging markets, and novice-friendly financial services to individuals worldwide.

Founded in 2018 and operating globally under multiple licences, XREX offers a full suite of services such as digital asset custody, wallet, cross-border payment, fiat-crypto conversion, cryptocurrency exchange, asset management, and fiat currency on-off ramps.

Sharing the social responsibility of financial inclusion, XREX leverages blockchain technologies to further financial participation, access, and education.

Photo – https://mma.prnewswire.com/media/2404201/news_EN.jpg

View original content:https://www.prnewswire.co.uk/news-releases/xrex-singapore-receives-mas-major-payment-institution-licence-302142383.html