Fintech, Finance, Technology, Banking Highlights – 2 March 2018
WorldRemit launches international money transfer service in New York
International money transfer service WorldRemit has launched in New York, targeting the state’s 4.5 million immigrants with its fast, low cost service.
Using a smartphone or online, consumers can easily make international transfers to 147 countries around the world without the inconvenience of visiting a brick and mortar agent.
The US will account for 40% of WorldRemit’s global revenue in the next few years, up from the current 15%. It is already one of the company’s fastest growing send markets with 200% year on year growth and that growth is set to accelerate with the launch of the New York service.
WorldRemit handles a growing share of the global $600 billion migrant money transfer market – better known as remittances. It also processes three-quarters of international money transfers to mobile money accounts – an emerging market technology whereby phone numbers act like bank accounts to hold funds.
B-Hive and Fintech & Payments Association of Ireland sign MoU
B-Hive and the Fintech & Payments Association of Ireland (FPAI) have signed a Memorandum of Understanding that will allow them to collaborate and cooperate through areas of mutual interest.
The MoU was signed on the occasion of a recent event in Brussels titled, “Shaping the European Fintech Ecosystem – EU Action & Irish Experience,” which was organized jointly by FPAI and Banking & Payments Federation Ireland (BPFI), and attended by a large number of policymakers and various other stakeholders. The FPAI is pleased to deepen European-level engagement, especially at a time when discussions on the digitalization of financial services are intensifying. In this regard, we were also delighted to hold introductory meetings with the European Commission’s Fintech Taskforce and other key representatives in the EU institutions and look forward to working to ensure Ireland and Europe reach their full potential in relation to fintech.
Broadway Technology connects to Moscow Exchange
Broadway Technology, a provider of high-performance fintech and infrastructure solutions, now offers solutions for connectivity to the Moscow Exchange, who is widely recognized by the largest international clients.
Broadway customers can now trade FX instruments on MOEX via Sponsored Market Access (SMA) and receive MOEX Market Data. Broadway’s solutions are certified by Moscow Exchange, and its MOEX adaptors are now available to Broadway’s global client base, including over 20 of the world’s largest banks and hedge funds.
Mastercard expands support for mobile operators
Mobile phones, smartphones and digital devices play an integral role in how people across the globe communicate, interact and transact.
As expectations for related services continually grow, the mobile industry is becoming increasingly competitive. In fact, it could be argued that traditional data and airtime services are becoming commoditized.
To support mobile network operators (MNOs) in efforts to evolve their operations and become a more complete digital player, Mastercard has introduced a package of data-driven digital services that enable fast, simple and secure digital payment experiences across devices and channels. Among these efforts is a program to explore novel spaces such as mobile, out-of-home advertising, identity verification and small business services.
“Research has shown that consumers want real-time access to convenient and unique experiences through the technology already in their hands,” said Kiki Del Valle, senior vice president, commerce for every device at Mastercard. “Through these services, Mastercard and our MNO partners are enabling innovative, secure and easy ways for consumers and businesses to pay, engage, build and grow – no matter where they are in the world.”
