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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 – USANairagram’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:

Pan Finance Magazine Q3 2023

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 ScienceTakatoshi Ito, Former Japanese Deputy Vice Minister of Finance, is a Professor at the School of International and Public Affairs at Columbia University.


Stockify goes fully Digital, offers Mutual Funds and Dematerialization of shares




In a strategic move to expand its offerings and provide a comprehensive suite of financial services, Stockify, a leading platform for Unlisted and pre-IPO shares in India, has announced plans to venture into the Mutual Fund space.

This development comes as part of Stockify’s mission to assist High-Net Individuals (HNIs) and Non-Resident Indians (NRIs) in accessing various investment opportunities in India via the pre-IPO route and maximizing their wealth. The company is also set to facilitate the Dematerialization of Shares. (Conversion of Physical Share to DEMAT account.)

Founded by Piyush Jhunjhunwala (CA, CPA) and Co-Founded by Rahul Khatuwala (CA) both seasoned finance professionals with decades of experience in global conglomerates.

Stockify has already carved a niche for itself in the Indian Financial landscape. The platform primarily focuses on providing access to Blue-Chip Stocks before their listing on the Indian Stock Market (via the Pre IPO Route) enabling early investors to potentially achieve significant returns. While expressing the company’s intent behind expanding its services, Jhunjhunwala said, “Mutual Funds are the backbone of the Indian Equity market, and we believe it is important that NRI and retail investors in India can greatly benefit from our new offering and this will help them in creating long-term wealth.”

The recent announcement of Stockify entering the Mutual Funds market follows the company’s successful acquisition of a Mutual Fund license in the first quarter of 2023. Alongside Mutual Funds, Stockify intends to offer an array of other financial products, like Start-up Funding, fixed investment products like Bonds and Non-Convertible Debentures (NCDs) and Insurance-Linked Investments, in the coming months. Notably, Stockify plans to make all its products and services 100% accessible online, aligning with the Digital India vision of our beloved Prime Minster Mr. Narendra Modi.

Currently, Stockify boasts 70 Unlisted/pre-IPO companies on its platform, with in-depth research conducted on all of them as stated by Jhunjhunwala. It offers a simple online process where transactions can be completed online, and shares get transferred to the clients DEMAT account on the same day.

Stockify’s global presence was recently showcased at the Dubai Fintech Summit (DFS). The two-day event brought together over 5,000 C-suite leaders, 1,000-plus investors, and 150 speakers from around the world. Stockify was selected as one of the proud exhibitors at the summit, solidifying its position as one of the world’s largest providers of pre-IPO and Unlisted Stocks in India.

With its ambitious expansion plans and commitment to innovation, Stockify is set to continue revolutionizing the way investors access and engage with financial opportunities in India and beyond.

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VerifyVASP Wins Hong Kong’s IFTA Fintech and Innovation Awards 2022/23: Regulatory Technology Award




VerifyVASP was awarded the Institute of Financial Technologists of Asia (IFTA) Fintech and Innovation Awards 2022/23 for Regulatory Technology. The awards exhibit the extraordinary achievements made by companies and individuals in the finance and technology industries.

The IFTA Awards, themed “Game Changers: The Rise of Next Gen Fintech”, celebrates ground-breaking ideas and technologies that are shaping the future of finance. The distinguished Guest of Honour presenting the IFTA awards was the Under Secretary for Financial Services and the Treasury for Financial Services in the Hong Kong SAR, Mr. Joseph Ho-Lim Chan.

VerifyVASP has established itself as a comprehensive Travel Rule solution provider catering to Virtual Assets Service Providers (VASPs) worldwide. Its commitment to facilitating full compliance with Travel Rule regulations across multiple jurisdictions has earned it this prestigious recognition.

This accolade comes at an opportune time, as VerifyVASP supports the Hong Kong Virtual Asset Trading Platforms (VATPs) in adhering to the regulatory framework set forth by the Hong Kong Securities & Futures Commission, which came into effect on 1 June 2023. VATPs are granted a grace period till 1 January 2024 to ensure compliance with Travel Rule requirements.

The IFTA Fintech and Innovation Award underscores VerifyVASP’s capabilities, including:

  • Facilitation of counterparty due diligence: VerifyVASP assists VASPs in counterparty due diligence before the first transaction, to stringent standards akin to that observed in correspondent banking. This is achieved through VerifyVASP’s own rigorous due diligence process, encompassing over 100 VASPs.
  • Immediate and secure transmission: Leveraging a scalable architecture, VerifyVASP ensures immediate and secure transmission of required information, alongside verification of such information. To date, the platform has processed over 5 million transfers.
  • Adherence to international data protection laws: VerifyVASP complies with international data protection law thanks to its decentralised, end to end encrypted architecture. This dedication to data security and privacy sets it apart in the industry.
  • Asset agnostic: VerifyVASP’s capabilities extend to accommodating any type of virtual asset, having processed over 400 cryptocurrency variants on its platform.
  • Integration of third-party screening solutions: VerifyVASP seamlessly integrates third-party solutions, allowing for efficient screening of originators or beneficiaries before blockchain transactions.


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Nagad’s Digital Bank on cards, Sadaf to lead the side




Nagad, Bangladesh’s leading Mobile Financial Service (MFS) provider, is gearing up to establish the much-anticipated digital bank, as it is going to secure a licence from the Bangladesh Bank within a couple of months.

Sadaf Roksana, a co-founder and executive director of Nagad Ltd., has been entrusted with the responsibility of leading her company’s transformative venture that will bring greater convenience to the lives of millions of Bangladeshis, reducing their reliance on traditional brick-and-mortar banks.

The MFS provider earlier applied to secure a digital bank licence following the central bank’s call for applications through its website. The Bangladesh Bank also formulated necessary guidelines to widen and accelerate financial inclusion, which will also create jobs for young IT workers.

The world’s fastest mobile money carrier is going to venture into the digital banking era at a time when the financial landscape across the globe is fast evolving towards digitalisation, driven by technological advancements and changing consumer preferences.

Taking on the new assignment, Sadaf, a seasoned financial executive with a remarkable track record in the fintech industry, is poised to steer Nagad’s digital bank towards success. Once Nagad gets the digital bank licence, it will provide its consumers with innovative and convenient banking solutions.

“We are very excited that we are going to introduce digital banking services to the people of Bangladesh within a couple of months,” Sadaf said, adding, “This endeavour aligns perfectly with our vision of enhancing financial inclusion and ensuring easy access to all financial services also at affordable prices.”

Nagad is already well-equipped to launch a digital bank. It will start serving customers soon after getting the licence, Sadaf assured.

Under its digital banking platform, Nagad will introduce many new services, such as single-digit and collateral-free loans for small informal businesses and farmers who now are to take loans from moneylenders even at 40% interest rate per day, she pointed out.

“Thus, we will encourage them to come under financial inclusion, thus putting their money into the formal channel,” she expressed her optimism.

To assess one’s creditworthiness, Nagad has created an AI-based credit rating system that will analyse all transactions-related data available on public domains using one’s NID and mobile number, Sadaf Roksana added.

As Nagad goes ahead with its plans, all eyes will be on Sadaf Roksana and her team as they will embark on this exciting journey towards a more digitised and inclusive financial future for the country.

SOURCE Nagad Limited

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