OneConnect Financial Technology | October 11, 2022
OneConnect Financial Technology Co., Ltd ("OneConnect" or the "Company", Stock Code: 6638.HK), a leading Technology-as-a-Service ("TaaS") provider, today unveiled OneConnect Smart Technology (ME) Limited in the United Arab Emirates (UAE) at the Abu Dhabi Global Market (ADGM), the leading international financial centre of the capital of the UAE.
Earlier, OneConnect announced that it will help develop the ADGM SME Financing Platform, an integrated digital finance marketplace that will transform the financing services landscape for small and medium enterprises (SMEs) in the UAE. The intelligent marketplace aims to advance financial inclusion, enhance transparency, alleviate cost of finance operations for SMEs and improve the overall customer experience for SMEs and their funding partners.
The ADGM SME Financing Platform will be an open and inclusive digital finance platform that improves SMEs' access to financing. As a marketplace connecting various key stakeholders such as SMEs, multi-lenders and data sources from government agencies, and supported by a robust loan origination process which enables seamless transfer of data, the platform will enable better, faster and more risk-appropriate financing decisions to be made. The entire loan application process is made agile and simplified through the use of digital tools such as e-contracts and e-signatures.
Ms Tan Bin Ru, CEO (Southeast Asia) of OneConnect Financial Technology, officiated the opening ceremony and said: OneConnect Smart Technology further expands our footprint in the Middle East. We are excited to bring our expertise in developing digital financial solutions for SMEs within the UAE and eventually to the Middle East and North Africa (MENA).
Dhaher bin Dhaher Al Muhairi, CEO of ADGM Registration Authority said, SMEs are a key contributor to economic growth and are deserving of an open and transparent marketplace for financial products,
He added, With the new platform, SMEs will find more convenient, affordable and effective financing solutions that will further improve the competitiveness and diversification of the UAE economy and transform the financing landscape in the MENA region.
In 2021, OneConnect had worked with ADGM to launch the Digital Lab, UAE's first Open API platform that allows financial institutions and FinTech innovators to collaborate and build the next generation of digital financial services.
"With two successful cooperation initiatives with AGDM and the newly-opened OneConnect Smart Technology office in Abu Dhabi, we are confident of contributing to the digital transformation of the finance sector within the MENA region,"
- Annie Ong, Chief Revenue Officer of OneConnect Financial Technology
Despite challenges caused by the ongoing global COVID-19 pandemic, OneConnect has been successful in securing new partnerships building a strong relationship with ADGM. Through a comprehensive suite of technologies, a unique "Finance+Technology" business model and a customer-oriented approach, OneConnect will continue to explore future opportunities within the MENA region following the adoption of a cutting-edge platform by the leading financial centre and common law jurisdiction within the region.
During the event, OneConnect introduced the End to End Digital Banking Solutions Suite, OneCosmo, the result of the joint product offerings of a partnership between OneConnect and Pismo, a cloud-native core processing platform from Brazil, to the business counterparts in the UAE.
As of August 31, the technological solutions on OneCosmo platform has been utilised by more than 50 million new accounts, registering more than 2 billion transactions with a total transaction value exceeding US$109 billion.
Tonik | October 14, 2022
Tonik, the first neobank in the Philippines, claimed the honorable distinction as one of CB Insights' Top 250 most promising fintech companies worldwide.
CB Insights, a business analytics platform and global database, releases annually their selection of the top 250 private fintech companies in the world. Selected from over 12,500 organizations, they are chosen based on factors such as funding, marketing potential, tech novelty, and CB Insights' proprietary mosaic scores, among others.
Tonik was recognized as one of the most innovative and pioneering fintechs in digital banking, along with other game-changers such as Revolut, N26 and Monzo. Most remarkably, Tonik is one of only two Philippine companies in the list and is the only Southeast Asian fintech listed in the Digital Banking category.
Carrying on its momentum from its commercial launch in 2021 as the Philippines' first purely digital bank, Tonik's industry-leading interest rates and unique and bespoke products provide Filipino customers an innovative, secure, and uncomplicated way to take charge of their money through Tonik's revolutionary proprietary app. This enabled the neobank to secure over PHP 8B (USD 133M) in deposits in its first year of operation, a historic feat for a new bank in the country and onboard more than half a million customers.
The bank is now focused on rolling out a broad range of revolutionary digital consumer lending products, including cash loans, in-store loans, and most recently – home equity loans.
"We are grateful to CB Insights for recognizing Tonik in this prestigious list. It is truly an honor to be listed among the most promising fintech companies in the world. This recognizes the importance of technology as the key in driving more productive, efficient, and inclusive banking services for retail customers in the emerging markets,"
- Tonik Founder and CEO Greg Krasnov
Tonik is the first digital-only neobank in the Philippines, providing loan, deposit, and payment products to consumers on a highly secure digital banking platform. The neobank operates on the basis of the first digital bank license issued by the Bangko Sentral ng Pilipinas (BSP). Tonik is led by a team of retail finance veterans who have previously built and scaled multiple retail banks and fintechs across global emerging markets. It is backed by top international investors, including Sequoia India, Point72 Ventures, and Mizuho Bank. Tonik's tech stack is integrated in partnership with world-class banktech vendors including Mastercard, Finastra, Amazon Web Services, Google, Genesys and Daon. Tonik operates out of hubs in Singapore (HQ), Manila, and Chennai.
Tranglo | November 17, 2022
Tranglo Pte Ltd is excited to announce the launch of real-time cross-border payments to Malaysia in line with the global fintech's mid-term plan to modernise its processes in the region.
With this announcement, Tranglo now performs more than 80% of its cross-border payments in real-time. It comes as Malaysia is seeing extraordinary growth in real-time transactions.
According to the country's central payment network PayNet, its real-time payment platform DuitNow has processed over 2 billion transactions in the last 3 years, representing a growth of more than 800%. Real-time transactions in Malaysia are expected to reach 7 billion in volume by 2025, it added.
DuitNow connects most bank accounts and e-wallets in the country.
"Our regional payout capabilities just got a real shot in the arm. The ubiquity of DuitNow means infrastructure support for real-time transactions not just within Malaysia, but across ASEAN. That is a huge market that our global business partners can tap into via Tranglo."
-Tranglo Group CEO Jacky Lee
Tranglo's real-time payout service is available 24/7 and supports both individual and business senders. Beneficiaries will receive the funds in Malaysia within minutes, subject to terms and conditions.
Tranglo helps financial institutions and businesses pay globally through Tranglo Connect, its proprietary cross-border payments solution. It seamlessly integrates payout and partner services, unifying the end-to-end payment process with direct API access. With Tranglo Connect, companies can make payments to over 24 countries reliably and securely.
Tranglo is a cross-border payment hub with a proven track record in business payment, foreign remittance and mobile payment solutions. Founded in 2008, we have offices in Kuala Lumpur, Singapore, Jakarta, Dubai and London. Our global network spans more than 150 countries, 5,800 mobile operators, 2,200 banks/wallets and 140,000 cash pickup points. Tranglo is a proud partner of Ripple, the leading enterprise blockchain solutions for global payments. We now offer enhanced cross-border payout services with an even wider coverage through RippleNet, Ripple's global payment network.
Card Curator and Invstr Ltd. | September 09, 2022
Card Curator, an app that informs rewards credit cardholders on how to earn the most out of their purchases without spending more, and top-rated U.S. investment and financial education app Invstr, have partnered together to help Invstr users make sharper decisions on their daily card spending with Card Curator’s award-winning credit card recommendation tool.
Invstr users will no longer have to play the painful guessing game of which credit cards to use on purchases, as the tool will recommend the “best” card in their wallet that yields the greatest rewards on gas, groceries, dining, and more. It can be found in the Hub of the Invstr app.
All in all, Card Curator’s credit card recommendation tool will provide Invstr users with the clarity and guidance they need when choosing their credit cards for any given purchase. It does this through independent and objective advice, as Card Curator does not receive compensation from banks or credit card issuers for its card recommendations.
“Invstr is one of the leading pioneers in financial literacy and has educated globally over 1 million members of its community on how to become savvier investors through the support of their highly acclaimed features, Now with this partnership, Invstr users will become sharper with their daily card spending and won’t be missing out on maximum reward earning opportunities. The number one reason why cardholders miss out on rewards is that they simply use the wrong credit cards on their purchases, and our tool corrects that.”
-John Taylor Garner, Founder and CEO of Card Curator
Invstr is delighted to be working with Card Curator to help consumers determine the best credit card to use. Our mission is to empower everyone to take charge of their financial future. We aim to help our customers at every stage of their financial journey from learning how to invest, to managing their banking, brokerage, crypto, insurance, and now credit cards in a single easy experience, said Invstr Founder and CEO Kerim Derhalli.
About Card Curator
Card Curator (CC) is the first and only true rewards optimization platform that demystifies and simplifies the credit card rewards game, helping users earn an average of $4,000 per year. CC was designed by algorithm and rewards experts to maximize earnings and offer individually tailored recommendations based on each user’s objectives--not influenced by card issuers or third parties. CC is the fastest, most efficient way for cardholders to optimize their spending and maximize the value of their award redemptions, typically generating five times the returns of standard card rewards programs. With guaranteed security and customization, Card Curator levels the rewards playing field between the complexities created by financial institutions and the cardholders who want to maximize the value of their spending but don’t have the time or inclination to decipher the fine print. Based in Lakeville, CT, Card Curator is privately held.
About Invstr Ltd
Invstr is a technology company with a presence in New York, London and Istanbul. Through its award-winning smartphone app, Invstr is determined to democratize finance. Founded by Kerim Derhalli in 2013, the app combines fun, learning, and competition to break down barriers and help users become better, more confident investors. Derhalli was named the 2019 Tech Entrepreneur of the Year at the Go:Tech Business Awards in 2019 and Invstr the Fintech App of the Year at the 2019 UK App Awards. Invstr also won the Fintech Innovator of the Year at the UK Business Tech Awards 2018 and Fintech Founder of the Year at the BMW i UK Tech Founder Awards 2018.