Fintech
Pan Finance Announces the Q3 Award Winners of 2023
Although advanced economies have displayed resilience in the first half of 2023, the outlook for 2024 appears less optimistic. Unexpectedly, only Germany entered a recession among G20 advanced nations, suggesting that the impact of 2023’s aggressive monetary policy tightening may be less severe. The past three months have certainly been marked by a mix of both positive and concerning trends. Adaptation and vigilance have never been more crucial for navigating this evolving global landscape.
With technology revolutionising any number of industries, the financial services sector is no exception. From mobile banking apps to artificial intelligence-powered wealth management platforms, Fintech companies are revolutionising the way we manage our finances. Moreover, there has been a renewed emphasis on financial inclusion, aiming to extend access to financial services to underserved populations. Governments, regulators, and financial institutions are increasingly recognizing the importance of bringing the unbanked and underbanked into the formal financial system. The front cover article of the Pan Finance Q3 2023 edition explores how cashless societies can impact financial inclusion and uncovers the opportunities and challenges that lie ahead for financial service providers.
Furthermore, Pan Finance continues to shine a spotlight on leading examples of best practice across the world of finance. Established to be a true measure of excellence, the Pan Finance awards look beyond the realm of the balance sheet alone, measuring success through innovation, stewardship of the environment and positive impact on society.
Frank Breuss, Co-Founder and CEO of Nikulipe said, “We are incredibly proud to have won the prestigious Pan Finance 2023 Award for “Most Trusted Local Payment Method Enabler – Europe and Africa“. Nikulipe provides online merchants access to new customers in Fast-growing and Emerging Markets, by providing seamless access to Local Payment Methods (LPMs). Today, millions of people in Europe and Africa are still excluded from buying goods and services online, as they lack access to credit cards or even bank accounts. Nikulipe leverages its own payments- and banking infrastructure, to provide PSPs and global merchants uniform access to those Local Payment Methods, which are available and popular in those markets. This award is a great recognition for the hard work and dedication of our whole team, striving to make a positive impact on the lives of millions of people in Europe and Africa, by connecting them to the global economy.”
Commenting on receiving the award as the Best Remittance Solutions for the African Diaspora – USA, Nairagram’s Chief Business Officer and Co-founder, Gbolahan ‘GK’ Obanikoro, said, “Our entire team is incredibly proud of this achievement, as it underscores our unwavering dedication to creating efficient, secure and user-friendly remittance solutions that caters to the unique needs of the African community in the diaspora. At Nairagram, we believe that access to efficient and affordable remittance solutions is not just a financial service but a bridge to connect families, support communities, and foster economic growth. Ultimately, facilitating remittances to loved ones such as “mama,” “papa,” “sista,” “broda,” or “padi” in a hassle-free, and efficient manner is where we derive our Joy!”. The President and Co-founder of Nairagram, Idris Ibrahim, said, “This award inspires us to continue pushing boundaries, fostering financial inclusivity, security and growth on the African continent, as well as delivering innovative and exceptional financial services to the African diaspora. We look forward to a future filled with even greater accomplishments, driven by our dedication to excellence and customer-centricity. We extend our heartfelt gratitude to our talented team whose hard work has made this achievement possible.
“UniTeller’s recognition as the Best Remittance Processing Solution and Excellence in Financial Inclusion speaks to our commitment to delivering exceptional solutions in the remittance industry.” said Alberto Guerra, CEO, UniTeller Financial Services. “Through our Cross-Border and Remittance APIs and Digital Solutions, UniTeller facilitates efficient and secure payments uniting people and companies around the world.”
Pan Finance is delighted to announce the following award winners in the Q3 2023 edition:
Allianz SE – Best Insurance Company – APAC 2023 –
Digido – Most Innovative Digital Lending Platform – Philippines 2023 –
Fineco Asset Management – Most Innovative Asset Management Company – Ireland 2022 –
HSBC Poland – Corporate Bank of the Year – Poland 2023 –
Nairagram – Best Remittance Solutions for African Community – USA 2023 –
NICE Actimize – Most Innovative Fraud Detection Technology – EMEA 2023 –
Nikulipe – Most Trusted Local Payment Method Enabler – Europe and Africa 2023 –
Qi Card – Fintech Company of the Year – Iraq 2023 –
Qi Card – Most Innovative Card – Iraq 2023 –
Santander Asset Management – Most Innovative Investment Manager – Europe 2023 –
Smartpay – Most Innovative Digital Financing Solution – Japan 2023 –
TD Bank – Banking Innovator of the Year – Canada 2023 –
UniTeller Financial Services – Best Remittance Processing Solution – USA 2023 –
UniTeller Financial Services – Excellence in Financial Inclusion – USA 2023 –
Wesco International – Most Innovative B2B Supply Chain Solutions – North America 2023 –
Worldremit – Most Secure International Transfer App – United Kingdom 2023 –
To learn more about these award winners, pick up the latest issue of Pan Finance magazine, available now:
Featuring articles from:
Zainab Shamsuna Ahmed, Former Minister of Finance, Budget, and National Planning of Nigeria;
Andrés Velasco, Former Presidential Candidate and Finance Minister of Chile, is Dean of the School of Public Policy at the London School of Economics and Political Science; Takatoshi Ito, Former Japanese Deputy Vice Minister of Finance, is a Professor at the School of International and Public Affairs at Columbia University.
Fintech
Fintech Pulse: Today’s Key Industry Developments, Appointments, and Regulatory Challenges
The Changing Landscape of Global Fintech
The financial technology (fintech) industry continues to evolve at a rapid pace, making headlines worldwide. Today’s briefing dives into transformative moves and strategic shifts within fintech companies across diverse geographies. From innovative alliances to prominent executive appointments and ambitious expansions into banking, the industry is positioning itself for a future that intertwines financial inclusivity, regulatory compliance, and customer-centric technology. Let’s unpack these developments.
XTransfer’s Hong Kong Fintech Week Entry: Scaling Financial Access in China
XTransfer, a Shanghai-based cross-border financial services firm, has joined the Hong Kong Fintech Week to showcase its solutions, marking a significant milestone in its journey to bridge financial gaps for small and medium-sized enterprises (SMEs) in China. Founded in 2017, XTransfer addresses common barriers faced by Chinese SMEs in accessing international financial networks due to regulatory complexities. The firm’s platform facilitates smoother cross-border transactions by helping businesses navigate regulatory and compliance challenges seamlessly.
The strategic choice to participate in Hong Kong Fintech Week highlights XTransfer’s commitment to strengthening connections within the Asian financial hub. The firm seeks to tap into the region’s wealth of potential clients and partners, as Hong Kong continues to be a pivotal gateway for businesses engaging in cross-border trade with China. The move is also symbolic of the broader fintech community’s push to create inclusive and accessible financial networks, even amid evolving regulatory landscapes.
Source: XTransfer Joins Hong Kong Fintech Week to Expand Global Presence (Yahoo Finance)
Propelld’s New Chief Business Officer: Driving Growth and Product Innovation
Propelld, an Indian ed-finance company, recently appointed Manoj Shetty as its new Chief Business Officer (CBO), signaling a strong commitment to enhancing its market penetration and product offerings. Known for his extensive experience in fintech, particularly in business development and scaling, Shetty is expected to spearhead Propelld’s ambitions to bring tailored financing solutions to India’s education sector.
Propelld focuses on providing student loans and education financing to underserved sections of India, leveraging advanced data analytics to assess borrowers’ potential rather than conventional credit scores. Shetty’s addition to the leadership team suggests that Propelld aims to double down on its innovative data-driven model to better serve the unique financial needs within education.
As the industry grows more competitive, having a seasoned executive like Shetty could be instrumental for Propelld to fortify its unique value proposition. His track record indicates a capacity for handling the nuanced needs of financial services catering to niche markets, and he may well position Propelld to scale sustainably in the expanding ed-finance space.
Source: Propelld Names Manoj Shetty as Chief Business Officer (IBS Intelligence)
Solo Funds Faces Legal Hurdles: The Class-Action Lawsuit Dilemma
In a move that could impact peer-to-peer lending’s regulatory path, Solo Funds faces a class-action lawsuit, alleging that the company’s lending practices breached consumer protection laws. As a platform designed to offer emergency loans to consumers facing cash flow issues, Solo Funds charges “tips” rather than conventional interest rates, a tactic intended to circumvent traditional lending regulations. However, plaintiffs argue that these tips effectively function as disguised interest, making Solo Funds’ practices deceptive and exploitative.
This lawsuit is a critical test for the burgeoning peer-to-peer lending segment, which has grown immensely in recent years as consumers seek alternatives to traditional financial institutions. The outcome may force similar platforms to reassess how they balance operational flexibility with regulatory compliance, potentially reshaping the industry’s approach to short-term lending.
With growing scrutiny on fintech lending platforms, the legal proceedings could also open a wider debate on how fintech firms should transparently operate within the bounds of financial laws. If Solo Funds is found liable, it may prompt stricter regulatory frameworks, affecting peer-to-peer platforms that rely on nontraditional models to attract users.
Source: Lending Fintech Solo Funds Faces Class-Action Lawsuit (TechCrunch)
Slice’s Transformation: A Fintech Company’s Foray into Traditional Banking
India-based Slice, originally a credit-based fintech, has announced its transition into a full-fledged bank, allowing it to offer conventional banking services in addition to its credit solutions. By securing regulatory approval to operate as a bank, Slice aims to expand its product range and deepen its relationship with a fast-growing consumer base in India. This move exemplifies a larger trend of fintech firms seeking to bridge the gap between traditional banking and innovative financial services.
Slice’s venture into banking will also set an intriguing precedent for other fintech companies in India and beyond. The company has successfully carved a niche among young users with its simple, digital credit products. As a bank, it can now offer savings accounts, lending products, and other services, thus creating a one-stop platform that could enhance customer retention and lifetime value.
The expansion to full banking status raises questions about how effectively Slice will manage its dual roles as a fintech innovator and a traditional bank, especially in a market as large and complex as India’s. It also marks a pivot point in the narrative of fintech companies morphing into full-service financial institutions, a trend that is gaining traction globally.
Source: India Fintech Slice Expands to Become a Bank (TechCrunch)
FullCircl’s 2025 Identity Verification Report: Insights into Compliance Challenges
FullCircl, a leading regulatory technology provider, recently released its “2025 State of Identity Verification” report, shedding light on the evolving landscape of identity verification and the challenges businesses face in maintaining compliance. As financial crimes become more sophisticated, firms increasingly invest in identity verification tools to stay ahead. According to the report, over 75% of financial institutions rank identity verification as a critical priority, citing the surge in fraudulent activities as a prime concern.
The report also highlights an industry-wide push towards digital identity systems and the use of artificial intelligence in detecting fraud patterns. As regulatory demands tighten and compliance risks rise, firms are urged to adapt swiftly. FullCircl’s findings underscore a need for seamless, real-time verification solutions that do not compromise customer experience—a delicate balance to maintain as identity verification protocols become more stringent.
The insights from FullCircl’s report reveal a heightened industry focus on ensuring robust identity frameworks that foster trust without hindering the ease of digital transactions. This growing demand aligns with broader trends where digital trust is crucial in retaining customers and enhancing their satisfaction.
Source: FullCircl Releases 2025 State of Identity Verification Report (PR Newswire)
The post Fintech Pulse: Today’s Key Industry Developments, Appointments, and Regulatory Challenges appeared first on HIPTHER Alerts.
Fintech
Xsolla significantly expands payment solutions in Cambodia and Indonesia to maximize game developers’ reach
Xsolla, a global video game commerce company, is pleased to announce the expansion of its payment solutions in Cambodia and Indonesia, providing access to localized payment methods tailored to each region. This initiative aligns with Xsolla’s broader strategy to strengthen its presence across Southeast Asia (SEA) and support game developers in effectively monetizing and distributing their games in these rapidly growing markets.
In Cambodia, Xsolla introduces eight new payment methods, including Internet banking options and digital wallets, tailored to the preferences of Cambodian users. This strategic expansion covers up to 90% of the payments market, ensuring that nearly every player in Cambodia can pay using their preferred method. For example, Bakong KHQR, a QR code-based payment system, holds 45% of the market share, while Acleda Bank accounts for 15%. Supported by the country’s ongoing digital transformation, with digital payment transactions surging by 28.7%, these solutions, including Wing Money, Pi Pay, and others, will enable game developers to reach nearly 2 million gamers in Cambodia, facilitating seamless checkout experiences and boosting sales.
In Indonesia, Xsolla is introducing several new payment methods to help game developers tap into the country’s vast gaming market, with over 185 million gamers out of a 275 million-strong population. Approximately 80% of consumers in Indonesia are unbanked or underbanked. With smartphone penetration reaching up to 80%, Alternative Payment Methods (APMs) are the most preferred option in Indonesia. By integrating these APMs, Xsolla can cover up to 90% of the market. This includes E-wallets, which account for 39% of the market, Bank Transfers at 27%, Cards at 17%, and Cash at 11%. Popular platforms such as ShopeePay, Jenius, and Akulaku are among the new payment options, simplifying transactions for Indonesian gamers and boosting market reach for game developers in one of the fastest-growing digital markets globally.
“Xsolla’s commitment to empowering game developers to access new markets is central to our mission. By introducing localized payment methods in Cambodia and Indonesia, we provide our partners with the tools they need to succeed in these dynamic and rapidly growing gaming environments. This expansion is part of our ongoing efforts to support developers globally and help them overcome payment challenges,” said Chris Hewish, Chief Strategy Officer of Xsolla.
The gaming market in Cambodia is projected to reach $75.21 million by 2027, with mobile games accounting for 66% of the revenue in 2023. In Indonesia, digital transformation opens up significant opportunities for game developers, mainly through localized payment solutions that reduce friction and improve transaction success rates.
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Fintech
Ibanera to Spotlight The Future of FinTech at RAK DAO Conference
Ibanera, a leading digital banking platform, is attending the RAK DAO conference this year as one of the primary sponsors. At the event, Michael Carbonara, CEO of Ibanera, will be driving discussion on the future of fintech amongst Web3 leaders, including what this looks like in the Middle East and the RAK DAO ecosystem.
Ibanera’s role at the event will showcase the fintech enablement platform’s commitment to driving innovation and leadership amongst the emerging technology industry as it showcases its latest projects.
Ibanera’s CEO Michael Carbonara will also play a key role at the conference, as he joins global business leaders to discuss the power of interconnectivity during a panel talk that will further highlight the company’s influence as a supportive power to global institutions and financial organisations alike. Within this talk, Carbonara will be exploring the RAK DAO vision, mapping a decentralized world built within a well-integrated ecosystem for which collaboration, partnerships and innovation mark key pillars of success.
“As the fintech space continues to pursue greater connections across the global Web3 and decentralized landscape, the more we are able to map out what the future of finance looks like and how it will shape businesses and banking”, said Michael Carbonara, CEO of Ibanera. “The RAK DAO Conference is a cornerstone moment for the industry to get together and explore this exciting world of innovation, and I’m looking forward to hearing fresh perspectives from leaders within the community”.
As a key partner for this year’s RAK DAO conference, the MENA region’s premier blockchain and Web3 summit, Ibanera continues to devote its focus on the innovative Web3 momentum in the Middle East. Carbonara’s panel discussion at RAK DAO 2024 this year will occur on October 25th in Ras Al Khaimah, UAE.
The post Ibanera to Spotlight The Future of FinTech at RAK DAO Conference appeared first on HIPTHER Alerts.
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