Latest news with #FinTech
Associated Press
2 days ago
- Business
- Associated Press
AML Incubator Launches Bank Account Opening Service to Support High-Risk FinTechs and Global MSBs
Port Coquitlam, British Columbia--(Newsfile Corp. - June 27, 2025) - AML Incubator (AMLI), a leading provider of regulatory and compliance solutions for FinTechs and Money Services Businesses (MSBs), is proud to announce the official launch of its Bank Account Opening Support service —designed specifically for high-risk and emerging financial institutions seeking reliable access to banking infrastructure worldwide. [ This image cannot be displayed. Please visit the source: ] Modern global banking access-connecting financial hubs across Toronto, London, Dubai, and Singapore with secure, compliance-driven infrastructure. To view an enhanced version of this graphic, please visit: A new solution for FinTechs and MSBs shut out of banking, AMLI offers expert-led access, even in complex or high-risk sectors. The service provides full-scope support, from customized introductions to regulated financial institutions to management of onboarding documentation, compliance clarifications, and post-approval assistance. Unlike most providers, AMLI does not shy away from risk: if account opening is possible, AMLI will navigate the path. However, no guarantees are made—final approval rests solely with the financial institution. 'We've seen firsthand how access to banking can make or break a FinTech venture—especially for remittance platforms, and startup MSBs,' said Haik Kazarian, Head of Business Development at AML Incubator. 'This service bridges that gap. We don't promise guarantees, but we do everything in our power to get you in the room, positioned for success.' Whether clients are seeking Canadian bank accounts, international IBANs, or multi-currency business solutions, AMLI leverages trusted partnerships with traditional banks, Electronic Money Institutions (EMIs), and Payment Service Providers (PSPs) to find compliant, workable options. The Bank Account Opening service is available as a standalone product or bundled with AMLI's: This integrated approach helps FinTechs align banking access with regulatory readiness from day one. Key Highlights: This launch addresses a persistent problem in the FinTech space: the de-risking trend that has denied banking services to even legitimate, licensed firms. AMLI's pragmatic, fast-moving approach offers a lifeline grounded in regulatory precision. 'Banking access isn't just about compliance—it's about survival,' added Kazarian. 'Our mission is to open doors others can't.' To learn more or book a discovery call, visit Contact: AML Incubator LTD. Email: [email protected] Web: To view the source version of this press release, please visit
Finextra
3 days ago
- Business
- Finextra
TransUnion makes minority investment in South African fintech Omnisient
TransUnion today announced a minority investment and broader strategic partnership with Omnisient, a South Africa-founded FinTech operating internationally that offers a privacy-preserving data collaboration and advanced analytics platform. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The Omnisient platform empowers businesses to safely access high-value consumer data ecosystems and rapidly integrate alternative data sets to drive intelligent decision-making. As part of the investment, a TransUnion representative will join Omnisient's board of directors. 'The Omnisient platform allows multiple clients to use built-in advanced analytical tools to simultaneously evaluate the utility of diverse data sets, identifying those that deliver measurable value. Through this collaboration, TransUnion expects to gain access to a broader range of alternative data sources and privacy preservation capabilities. By accelerating the integration of high-impact data into our ecosystem, we intend to enhance existing solutions and develop new, market-relevant products that better meet the evolving needs of our customers,' said Lee Naik, Regional President/ CEO of TransUnion Africa. 'Traditional data models often fail to reflect the lived realities of African consumers, leaving millions without access to credit and the opportunities it enables,' said Naik. 'Financial inclusion is central to unlocking economic growth across the continent. That's why we're committed to leading with bold, African-born solutions designed to see the unseen and serve the credit invisible by integrating alternative data sets alongside traditional credit data in ways that reflect uniquely African contexts and realities. By incorporating non-traditional indicators of financial behaviour, this approach broadens access to credit and helps us reach more underserved communities. We believe accelerating the adoption of alternative data is critical to closing the credit gap at scale, enabling faster, fairer and more inclusive access to financial services for millions across the continent." 'Our privacy-preserving data collaboration platform brings financial services and consumer brands together, allowing them to discover, validate and commercialise new alternative sources of consumer behavioural and transactional data without having to exchange sensitive personal information,' said Jon Jacobson, co-founder and group CEO of Omnisient. 'This data allows financial institutions to make better risk decisions with more confidence and security, unlocking the potential to grow financial inclusion for hundreds of millions of people around the world.' This collaboration marks a natural progression in TransUnion's strategy to expand financial inclusion across Africa. By leveraging privacy-enabled alternative data sets through Omnisient's platform, TransUnion intends to strengthen its ability to help address the challenge of bringing an estimated 500 million* financially excluded Africans into the formal financial ecosystem. By responsibly harnessing alternative data at scale, TransUnion sees the opportunity to bring millions of new-to-credit and credit-underserved consumers across Africa into the financial mainstream. This enables individuals to begin building a credit profile, many for the first time, laying the foundation for long-term economic empowerment. It's a powerful demonstration of TransUnion's commitment to using Information for Good® to drive measurable impact at scale: expanding access to credit, unlocking economic potential and reshaping the future of finance across Africa. Global demand is rising for alternative data solutions that protect privacy, build trust and unlock value. Omnisient's platform meets this need with technology that enables secure, privacy-preserving data collaboration. Instead of transferring raw data, Omnisient uses tokenised keys to represent personal information in the data set, ensuring privacy is maintained throughout the process. As a leading provider in Africa of secure, many-to-many data connectivity between banks, financial institutions and third-party sources, Omnisient is driving innovation in data collaboration.
National Post
5 days ago
- Business
- National Post
POSaBIT Announces Results of Annual and Special Meeting of Shareholders
Article content TORONTO — POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF) (the ' Company ' or ' POSaBIT '), a leading provider of payments infrastructure in the cannabis industry, is pleased to report the voting results of the annual and special meeting of shareholders held earlier today. Article content Based on the proxies received and the vote conducted at the meeting, all tabled resolutions were approved by the shareholders of the Company, including to set the number of directors at three (3) and the election of Ryan Hamlin, Michael Apker and Bruce Jaffe. Article content In addition to the election of the directors of the Company as noted above, the shareholders of the Company: (i) appointed McGovern Hurley LLP, Chartered Accountants, as the independent auditor of the Company for the ensuing year and authorized the directors of the Company to fix their remuneration; and (ii) approved, by way of a special resolution, to consolidate the common shares of the Company at a share consolidation ratio to be determined by the board of directors of the Company in its sole discretion. Article content POSaBIT (CSE: PBIT, OTC: POSAF) is a FinTech, working exclusively within the cannabis industry. We provide a best-in-class Point-of-Sale solution and are the leading cashless payment provider for cannabis retailers. We work tirelessly to build better financial services and transaction methods for merchants. We bring cutting-edge software and technology to the cannabis industry so that all merchants can have a safe and compliant set of services to solve the problems of a cash-only industry. For additional information, visit Article content Article content Article content Article content Article content Contacts Article content Investor Relations: Article content Article content Article content Oscar Dahl Article content Article content 855-767-2248 Article content Article content Article content Ryan Hamlin Article content Article content Article content
Mid East Info
5 days ago
- Business
- Mid East Info
UAE Set to Lead Middle East FinTech Growth, reveals FinTech 2025 Industry Report by Emirates NBD and PwC - Middle East Business News and Information
UAE FinTech startups raised USD 265 million in 2024, representing one-third of national startup funding The UAE FinTech market is projected to grow from USD 3.16 billion in 2024 to USD 5.71 billion by 2029 89% of UAE consumers now use digital-first bank accounts Artificial Intelligence is transforming financial services, enhancing personalisation, compliance and risk management Collaboration across the ecosystem and innovative policies are driving regional FinTech leadership Dubai, United Arab Emirates,June 2025: Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT), has released 'From code to capital: The UAE's FinTech revolution' 2025 report, developed in collaboration with PwC. Recently previewed at the Dubai FinTech Summit 2025, where the Bank served as Premium Banking Partner, the report offers a data-led outlook on the UAE's evolving FinTech landscape and provides a roadmap for ecosystem stakeholders driving financial innovation. Positioned as an industry-wide outlook, the FinTech 2025 Report offers insights into key regional trends from a surge in digital adoption and venture capital investment, to the widespread integration of AI. The UAE is increasingly recognised as a hub for FinTech activity, underpinned by strong regulatory support and a maturing ecosystem. Neeraj Makin, Group Head of Strategy, Analytics and Venture Capital at Emirates NBD, said: 'We are proud to launch the FinTech 2025 Report, showcasing the UAE's success as a FinTech hub, supported by Emirates NBD's innovation. The UAE's USD 265 million of FinTech funding in 2024 signals strong investor confidence. Bolstered by a robust venture capital network, diverse talent, and clear exit paths, the UAE is primed to attract even greater investment and cultivate future FinTech leaders.' According to the report, FinTech startups in the UAE attracted around USD 265 million in 2024 – approximately one-third of total startup funding in the country. The local FinTech market is expected to grow from USD 3.16 billion in 2024 to USD 5.71 billion by 2029, powered by widespread consumer adoption, investor confidence, and strong partnerships across public and private sectors. Miguel Rio-Tinto, Group Chief Digital and Information Officer at Emirates NBD, said: 'Emirates NBD is proud to help drive the FinTech revolution in the region through strategic partnerships, in-house innovation and venture investments. With this report, we demonstrate how established banks can leverage FinTech for growth, efficiency and superior customer experiences. As the industry continues to evolve, we remain committed to building an open, collaborative ecosystem that delivers long-term value to our customers and the wider financial sector.' Stephen Anderson, Strategy Leader at PwC Middle East, said: 'This report illuminates the dynamic FinTech landscape within Dubai. We see a region transformed by innovation, driven by technology and visionary strategies. Our commitment is to empower clients, partners, and communities to thrive in this smarter, connected financial future and the UAE is at the forefront of this revolution.' The report also highlights the transformative impact of artificial intelligence in reshaping every layer of financial services from personalisation to compliance and risk modeling. Emirates NBD's evolution from pre-AI to post-AI operations has led to measurable improvements in efficiency, control, and scale. As FinTech continues to scale, the report encourages proactive collaboration between banks and startups by embracing open APIs, regulatory sandboxes, and co-branded innovation models, critical to sustaining industry momentum and deepening customer impact. Read the full report. About Emirates NBD: Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As of 31st March 2025, total assets were AED 1 trillion, (equivalent to approx. USD 272 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 839 branches and 4,539 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 4.54 billion. Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region. Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE's main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE's Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.
Khaleej Times
5 days ago
- Business
- Khaleej Times
UAE FinTech market likely to grow from $3.16 billion in 2024 to $5.71 billion by 2029
The UAE FinTech market is expected to grow from $3.16 billion in 2024 to $5.71 billion by 2029, powered by widespread consumer adoption, investor confidence, and strong partnerships across public and private sectors, a study showed on Monday. Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (Menat), has released 'From code to capital: The UAE's FinTech revolution' 2025 report, developed in collaboration with PwC. Recently previewed at the Dubai FinTech Summit 2025, where the Bank served as Premium Banking Partner, the report offers a data-led outlook on the UAE's evolving FinTech landscape and provides a roadmap for ecosystem stakeholders driving financial innovation. According to the report, FinTech startups in the UAE attracted around $265 million in 2024 – approximately one-third of total startup funding in the country. Positioned as an industry-wide outlook, the FinTech 2025 Report offers insights into key regional trends from a surge in digital adoption and venture capital investment, to the widespread integration of AI. The UAE is increasingly recognised as a hub for FinTech activity, underpinned by strong regulatory support and a maturing ecosystem. Neeraj Makin, group head of strategy, analytics and venture capital at Emirates NBD, said: 'We are proud to launch the FinTech 2025 Report, showcasing the UAE's success as a FinTech hub, supported by Emirates NBD's innovation. The UAE's $265 million of FinTech funding in 2024 signals strong investor confidence. Bolstered by a robust venture capital network, diverse talent, and clear exit paths, the UAE is primed to attract even greater investment and cultivate future FinTech leaders.' Miguel Rio-Tinto, group chief digital and information officer at Emirates NBD, said: 'Emirates NBD is proud to help drive the FinTech revolution in the region through strategic partnerships, in-house innovation and venture investments. With this report, we demonstrate how established banks can leverage FinTech for growth, efficiency and superior customer experiences. As the industry continues to evolve, we remain committed to building an open, collaborative ecosystem that delivers long-term value to our customers and the wider financial sector.' Stephen Anderson, Strategy Leader at PwC Middle East, said: 'This report illuminates the dynamic FinTech landscape within Dubai. We see a region transformed by innovation, driven by technology and visionary strategies. Our commitment is to empower clients, partners, and communities to thrive in this smarter, connected financial future and the UAE is at the forefront of this revolution.' The report also highlights the transformative impact of artificial intelligence in reshaping every layer of financial services from personalisation to compliance and risk modeling. Emirates NBD's evolution from pre-AI to post-AI operations has led to measurable improvements in efficiency, control, and scale. As FinTech continues to scale, the report encourages proactive collaboration between banks and startups by embracing open APIs, regulatory sandboxes, and co-branded innovation models, critical to sustaining industry momentum and deepening customer impact.
