Fintech, Finance, Technology, Banking Highlights – 30 October 2018
Lattice80, World’s Largest Fintech Hub, Expands To Hong Kong
Lattice80, the World’s Largest Fintech Hub headquartered in London opens a new Fintech Hub in Hong Kong.
The new location is in Sha Tin where a number of universities and Science Park are located nearby, It is also close to the border of Shenzhen, China.
Joe Seunghyun Cho, Co-founder and Founding CEO of Lattice80 commented, “We believe Hong Kong is the right place to be a connection point for Belt and Road Initiative. Hong Kong, being a traditional financial and trading hub to connect Asia and Europe, has the world’s best exit market and access to global investors that budding fintech and blockchain startups would look for.”
“Plus, the timing is perfect for opening Hong Kong and China. Fintech in Hong Kong has much growth potential compared to the size of its finance industry. I believe Hong Kong will be a leader in Fintech in Asia for the next 1-2 years and the right place to bring the best fintech innovations embraced in China to the outside of the world.”
“Instead of opening a space in the central business area, Lattice80 Hong Kong space is strategically chosen its location to be in Sha Tin, where you can drive to Shenzhen within 20 minutes.” said Marvelstone Group CEO, Gina Heng.
First Data Launches Clover Platform in Canada
First Data, a global provider in commerce-enabling technology, announced the launch of Clover in Canada.
With innovative point-of-sale (POS) technology, First Data’s Clover platform brings to business owners a modern approach to manage the demands of their enterprises, including smart, flexible point-of-sale hardware, intuitive software and a robust set of tools to run operations.
“We are delighted to launch Clover in Canada, making the next generation of payments technology available to our merchants and across our broad distribution networks,” said Brian Green, President, First Data Canada. “While powering businesses ranging from coffee shops to major sports arenas, the Clover platform has grown rapidly across the U.S. and Europe. Now we are thrilled to bring the latest in payments innovation to Canada.”
Clover Flex is the first POS device in Canada to offer access to a third-party app market, connecting merchants with applications designed to simplify daily business tasks and support functions which are critical to business owners. The apps can sync with popular accounting programs, optimize employee management, drive customer loyalty, and more. Additionally, Clover Flex is the first POS in Canada to offer multiple communication modalities (IP, Wi-Fi, LTE) all in one device and give consumers the choice of receiving their receipts in paper, text or email format.
With Clover, merchants also manage their businesses in real-time over an online backend portal that can be accessed from a smartphone, tablet, or computer. The portal allows the merchant to easily monitor transaction status, view receipts in an online archive, and make configuration changes remotely.
“Clover Flex has been a perfect fit for our business, whether to handle a long queue of customers or when working a large event, Clover is made for the job,” said Steffen Marin, chef and owner of Heirloom, a popular Toronto-based food truck featuring sustainable and locally-sourced food. “For a small business, efficiency is critical. Clover is allowing us to improve numerous aspects of our operations, including shortening transaction times for consumers and providing me the capability to manage business activity anytime, anywhere.”
iGTB and Bolero International Partner for Revenue Enablement and Capital Optimisation for Trade Finance and Supply Chain Finance Solutions
Intellect Global Transaction Banking (iGTB), the transaction banking division of Intellect Design Arena Ltd, the leading B2B fintech with 21% CAGR over three years, has entered into a collaboration agreement with Bolero International, the world’s premier trade digitisation experts, with goals to make trade safer, smarter and faster.
Both firms are looking at exploring developments of digitally-led commercial trade and supply chain finance business propositions. The new partnership will initially look at how coupling iGTB’s strong product processors with Bolero’s diversified global digital ecosystem can lead to the elimination of inefficiencies in trade transactions while at the same time boosting revenueenablement.
Manish Maakan, CEO,iGTB said, “The focus at iGTB is to work with banks in the areas of revenue growth, improvements in returns on equity and cost/income ratios, while developing tools which help banks with effective risk and compliance governance frameworks, and this has led to a number of recent large wins in trade finance/supply chain.Our partnership with Bolero International will capitalise on their expertise in trade digitisation to help reduce operational risk in an industry that is dominated by manual and inefficient processes.”
The first potential collaboration will be combining forces to validate the commercial viability of solutions creating a global secure digital marketplace for origination and distribution of trade and supply chain finance assets.
Ian Kerr, CEO, Bolero International said, “We are very excited to be collaborating with iGTB. They share our passion for practical innovations that make supply chain trade finance safer, smarter and faster through the power of digitisation and the elimination of time-consuming manual processes.Both teams will be pooling their years of expertise to build solutions that transform the efficiency and revenue-enablement of supply chain trade finance. The benefits are potentially immense, providing banks with access to global multi-investor classes while strengthening their relationships as service providers and partners.”
