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Insights from Banxso: Strategic framework for Indian fintech's global success | Zee Business: Banxso's journey of innovation, strategic regulatory compliance, and market expansion offers a compelling blueprint for Indian fintech companies ...

See you there! 🙂 #SFF2024 #GFH2024 #sgfintechfest #UNOdigitalbank #sarisaristores #microentrepreneurs #microretailers #financialinclusion #fintech #MSME #salesandmarketing #retailecosytems #digitalrevolution #startup #ecommerce #entrepreneurs #unovators #businessdevelopment #productdevelopment #fmcg #channels #Philippines

Exciting times for fintech in Lithuania 🚀   A recent article in 15min featuring Fintech Hub LT and its members highlights how fintech companies are transforming the financial sector and competing with traditional banks.   At myTU, we are proud to be part of this #innovation. Our Business API helps businesses streamline their payment processes, reduce costs, and improve efficiency. Check out the full article here 👉 https://lnkd.in/eauewu4Z   #myTU #Fintech #Innovation #LithuaniaFintech

Navigating their way through the good, the bad and ugly on fintech providers, is a daunting prospect for corporate treasurers. To combat this issue, AAZZUR provides a wide selection of third-party fintech applications for embedded finance via a single interface. Philipp Buschmann (AAZZUR) talks to TMI about the genesis and evolution of this intriguing approach to service delivery. Read article: https://lnkd.in/eCkQKUTR #treasury #treasurymanagement #corporatetreasury #embeddedfinance #aazzur #innovationlab

  Fintech Hub LT and association members in a recent 15min article! 🌟 The fintech landscape is rapidly evolving, and companies are at the forefront of transforming the financial sector. According to a recent article from 15min, fintechs such as myTU and Monavate are innovating payment solutions and reshaping the various ways of managing payments. "People have known banks for a long time, so they naturally associate them with financial security. But the further we go, the more customers value not only reliability, but also speed, cost, functionality and accessibility. Fintech companies are usually not large, so they can react quickly to the economic situation and offer the best solution for the customer," says Greta Ranonytė, Head of Fintech Hub LT. Looking to the future, it's clear that fintech companies will play a key role in adapting to consumer needs and improving financial literacy. Their agility allows them to respond quickly to market changes, paving the way for a more dynamic and accessible financial ecosystem. "We have launched a new product for businesses - the Business API, which helps companies to optimise their financial processes and increase operational efficiency by integrating payments into their business systems. By fully automating payments, businesses can create and sign instant payment instructions through the API interface, receive real-time payment notifications, check account balances, receive account and transaction statements, receive notifications of payments to the business account, etc. This enables businesses to achieve unparalleled speed in business payments while significantly reducing operational costs and manual errors that used to occur," says Raman Korneu, CFA, CEO at myTU. "As a principle member of global payment system infrastructures, we can offer a very fast turnaround for the creation and issuance of a BIN. This is essential when launching new credit, debit or prepaid card projects. Our platform supports both physical and virtual cards that can be used in a wide range of business models, from retail to international financial services. We also offer a full range of card programme management services, including card personalisation, packaging solutions and digital services such as PIN generation. This enables companies not only to manage their card programmes efficiently, but also to provide their customers with an exceptional experience, from ordering the card to using it," says Eglė A., CEO of Monavate in Lithuania. Let's continue to support and celebrate the innovation that fintechs bring to our industry! More details in the article via the link: https://lnkd.in/eauewu4Z #Fintech #Innovation #FinancialServices #Transformation

Moving forward

Navigating Regulatory Challenges: The Case of TransferWise As my conversation with Emmanuel Daniel, a global thought leader on the future of money and finance, shifted toward the practical implications of these trends, Daniel highlighted TransferWise (now Wise) as a prime example of how FinTech companies navigate regulatory complexities while scaling globally. Emmanuel: Take TransferWise, for instance, which is now called Wise. Its original proposition wasn’t even about technology. It started simply as a netting of payments between its home country, Estonia, and the U.K. If you wanted to send a remittance from the U.K. to Estonia, they would deposit the money in the U.K., and it would never actually leave the U.K. Similarly, money deposited in Estonia never left Estonia. These amounts were netted against each other, and then the payments were sent. “They went into remittances in a big way and realized that you needed to put in a lot more technology. A few jurisdictions required them to make actual transactions. In other words, the foreign exchange actually enters the country; otherwise, they would not get a remittance license. So, they needed to modify their business model. “In countries like Singapore, TransferWise was forced to work with banks on either side of the transaction for KYC (know your customer) reasons. So, the regulator will not allow them to originate their own customers except for customers that already have bank accounts (in country). There was a fine line in replicating the original business model in new jurisdictions. So TransferWise (now Wise) has now become an incredibly complex company with as much infrastructure as traditional players. And that’s where a lot of the cost of the business is today.” “And no matter how low you bring the transaction costs in a remittance or a payments business, the real income is still in foreign exchange. So, they need to preserve that advantage to the extent that they can keep their own Forex cost lower than that of their banks. If not, they simply will not be able to upset the banks. But these are still early days.” This is a brief excerpt from a much longer, in-depth conversation with Emmanuel Daniel. In the full interview, Daniel dives deeper into the nuances of global FinTech trends, the evolving role of regulators, and the future of digital assets. Read the full interview>> https://lnkd.in/gnK7xWTh #futureofmoney #fintech #payments

On Cross-border Payments, my takes on: 1. Wise’s (Transferwise) rising compliance costs 2. the propensity of regulators to accrue the industry back to the incumbents. 3. The money in cross-border payments is still in the FX #remittance #payments #crossborderpayments Collin Canright

Banxso's global blueprint: A guide for Indian fintech expansion - BusinessToday: Indian fintech companies looking to expand globally can glean valuable insights from Banxso's successful integration of innovation and regulatory ...