Fintech
FM urges startups to focus on climate change solutions
Vananam Ventures Pvt Ltd, a Bengaluru- based alternative investment platform, held a Start-Up Inclusion Summit on Saturday, Nov 26, where the Honourable Minister of Finance and Corporate Affairs, Government of India, Smt. Nirmala Sitharaman was the Chief Guest. She appealed to the start-ups to focus on climate change and farming solutions.
Addressing the national-level summit organised by Vananam to promote inclusion in the start-up ecosystem in India, she said, “Atmanirbhar Bharat is not just for defence or strategic matters, food security or manufacturing areas. It is also self-sufficiency to be able to transition to a better climate in India.”
She urged the start-ups and investors to look beyond fintechs, Software as a Service start-ups, and also give importance to less glamorous areas such as climate change solutions, improving the conditions of farmers and millet production.
“You have already touched upon defence production, renewable energy, nuclear space, satellites, space technologies, etc. I’m asking you to explore some of those less glamorous areas as well,” she added.
Emphasising on climate change solutions, Sitharaman said, “More and more innovations for dealing with climate and climate change are going to be absolutely precious. Climate issues have a direct bearing on farming as well as on the supply chain in the country.”
“The challenges that emerge out of unpredictable climatic conditions have a bearing on agriculture, urban living, water management, disaster management, construction of houses, industries, and national security,“ she added.
The finance minister cautioned that if the issues related to climate change are not addressed, then it will cost a lot to the Indian economy, which will not be affordable to all. “The across-the-board damages that adverse climate and weather conditions can create is going to be big for any country to subsume, absorb or take on board,” she warned the gathering.
Elaborating on the gravity of the situation, she said, “The rainfall that used to happen in the entire monsoon season is now being witnessed within a couple of days, which no city or rural area can handle. All these are making farmers rethink about how they’re going to be ploughing, sowing, readying the land and also looking at when the crop is going to be coming for harvest.”
She added that people can see farmers trying to change their cropping patterns. The sowing of seeds is being pushed further due to the unpredictable monsoon months.
Further, she said, “Karnataka is one of the biggest producers of diverse varieties of millets and the United Nations General Assembly had declared the year 2023 as the International Year of Millets. Millets offered a way of healthy eating, especially for the urban population. There are plenty of opportunities for start-ups, including helping farmers realise better prices for their millet produce through value addition.“
Making further important announcements at the Vananam Summit, Ms. Sitharaman said, “India would be chairing the G20 summit and one of the sessions involving the Finance Ministers and the Central bank governors would be held in February in Bengaluru.“
Panel Discussions on the Inclusion Theme
Three panel discussions were held at the Vananam Start-up Inclusion Summit. The panellists discussed how to successfully transform students from academics to entrepreneurship, encourage women entrepreneurs and how to support founders in Tier-II, III cities.
Speaking at the event, Keshav Inani, Vananam Ventures CEO, said, “It is our great privilege that the Honourable Finance Minister Smt. Nirmala Sitharaman graced the occasion and addressed the audience. She gave us, the entrepreneurs, food for thought about the issues of national importance that need attention. We express our gratitude for her to support us in our drive to create an inclusive start-up ecosystem.”
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
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Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
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The Ever-Evolving Landscape of Fintech: Top Stories Today
The fintech world continues to thrive with new developments shaping its future. Today’s highlights cover Revolut’s enhanced crypto fraud protections, Bestow’s recognition as a leading fintech company, Advyzon’s CEO receiving a prestigious award, Tyme Group’s global expansion supported by Nubank, and the rise of Israeli fintech startups. Let’s dive into the details and explore the broader implications.
Revolut Steps Up Crypto Fraud Protection
In a significant move to fortify customer trust, Revolut has announced enhancements to its crypto fraud protection systems. Leveraging advanced security risk scores, the company aims to shield users from the growing menace of crypto-related scams. The platform’s new measures will involve deeper scrutiny of transactions, sophisticated algorithms to flag potential fraud, and proactive alerts for unusual activities.
Revolut’s focus on fraud protection reflects the escalating challenges faced by fintech firms operating in the crypto space. As digital currencies gain traction, fraudsters continue to exploit vulnerabilities, necessitating robust security mechanisms. Revolut’s initiative could set a precedent for the industry, emphasizing that user safety is as critical as innovation. However, the success of these measures will depend on striking the right balance between security and user experience.
Source: Coindesk
Bestow Earns a Spot Among Top 100 Financial Technology Companies of 2024
Bestow, a digital life insurance innovator, has been named one of the Top 100 Financial Technology Companies of 2024. This recognition highlights Bestow’s transformative approach to life insurance, combining cutting-edge technology with customer-centric solutions. By simplifying the traditionally cumbersome insurance process, Bestow has made life insurance more accessible and affordable.
The accolade underscores the growing importance of insurtech in the broader fintech ecosystem. Bestow’s achievements signal a shift in consumer expectations—convenience, transparency, and technology-driven solutions are becoming non-negotiable. As insurtech continues to disrupt traditional insurance models, the emphasis will likely shift from mere digital transformation to delivering personalized and predictive services.
Source: PR Newswire
Advyzon CEO Hailin Li Wins ThinkAdvisor 2024 Luminaries Award
Hailin Li, CEO of Advyzon, has been honored with the ThinkAdvisor 2024 Luminaries Award for Fintech Executive of the Year. This award recognizes his exceptional leadership and Advyzon’s commitment to empowering financial advisors with innovative tools. Under Li’s stewardship, Advyzon has excelled in providing comprehensive technology solutions, enabling advisors to deliver superior client experiences.
Li’s recognition highlights the pivotal role of leadership in driving fintech innovation. Advyzon’s success is a testament to how visionary leadership can redefine financial advisory services. As advisors increasingly rely on technology to navigate complex markets, platforms like Advyzon are becoming indispensable. The award also serves as a reminder that the human element—inspired leadership—remains crucial even in a tech-driven industry.
Source: Business Wire
Nubank Backs Tyme Group’s International Expansion
In a strategic move, Nubank has announced an investment in Tyme Group, a digital bank with operations in South Africa and the Philippines. This partnership aims to accelerate Tyme’s growth in emerging markets, leveraging Nubank’s expertise in scaling digital banking operations. Tyme’s unique business model focuses on financial inclusion, catering to underserved populations in developing economies.
Nubank’s investment signifies a growing trend among fintech leaders to expand their footprint in emerging markets. The collaboration between Nubank and Tyme underscores the potential of digital banking to bridge financial inclusion gaps. However, challenges such as regulatory complexities and technological infrastructure limitations in these regions must be addressed to ensure sustainable growth.
Source: Business Wire
Israeli Fintech Startups Gaining Global Momentum
Israel’s fintech ecosystem is making waves internationally, with startups leveraging the country’s robust tech culture and innovation-driven mindset. From payment solutions to cybersecurity for financial services, Israeli fintech firms are attracting significant investments and partnerships globally. This trend reflects the country’s position as a hub for technological advancement and entrepreneurial spirit.
The rise of Israeli fintech startups is a testament to the country’s ability to harness innovation for global impact. However, scaling these ventures beyond local markets remains a challenge. Strategic partnerships and a focus on addressing global financial challenges will be crucial for these startups to cement their position on the world stage.
Source: Calcalist Tech
Broader Implications for the Fintech Industry
- Enhanced Security in Crypto: Revolut’s initiative highlights the need for continuous advancements in fraud prevention. The increasing complexity of scams calls for adaptive security measures that can evolve with emerging threats.
- Recognition Drives Innovation: Bestow’s accolade and Hailin Li’s award demonstrate the power of recognition in fostering innovation. Industry acknowledgment not only boosts morale but also sets benchmarks for others to emulate.
- Global Collaborations: Nubank’s partnership with Tyme Group underscores the importance of cross-border collaborations in fintech. As markets globalize, such alliances will play a pivotal role in shaping the future of financial services.
- Emerging Market Opportunities: Investments in developing economies highlight the untapped potential of these regions. Fintech companies must focus on understanding local needs and challenges to create impactful solutions.
- Tech Hubs as Catalysts: The success of Israeli fintech startups emphasizes the role of regional tech hubs in driving industry growth. Policymakers and stakeholders must nurture these ecosystems to sustain innovation.
The post Fintech Pulse: Your Daily Industry Brief (Revolut, Bestow, Advyzon, Tyme Group, Nubank) appeared first on News, Events, Advertising Options.
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