Latin American grocery delivery platform Cornershop will issue recycled plastic cards through Marqeta’s modern card issuing platform, with Marqeta also partnering with rePurpose Global on plastic neutrality initiatives.

Marqeta, the global modern card issuing platform, announced a new initiative today to offer customers the choice to issue physical cards made from recycled plastic through its platform, alongside a partnership with rePurpose Global to offset its plastic footprint.

Marqeta will let its customers order physical cards made from 43 percent recycled material, offered in partnership with its card fulfillment partner Perfect Plastic Printing. Latin American grocery delivery platform Cornershop, recently acquired by Uber, will be the first customer to issue recycled cards through Marqeta to new Cornershop delivery shoppers globally. 

“We applaud Marqeta for taking the initiative with this new recycled card product, and for reducing the environmental impact of plastic cards,” said Oskar Hjertonsson, Founder and CEO of Cornershop by Uber. “It offered us an opportunity to be environmentally conscious, without sacrificing the quality and durability of the cards used by Cornershop delivery shoppers, which is a true win-win.” 

This new product is part of a continued focus on plastic neutrality for Marqeta, with the company also entering into a partnership with rePurpose Global to reduce its plastic footprint. Marqeta has committed to work with rePurpose Global to remove 380,000 pounds of nature-bound plastic from the environment in 2021 and channel it towards sustainable reuse. rePurpose Global’s efforts on Marqeta’s behalf will offset the creation of roughly 34 million cards. It is estimated that 37 metric tons of plastic enters our oceans each year, with 74 percent of plastic never recycled. Even if the world’s governments meet the ambitious commitments they have set for themselves, annual plastic emissions could reach 58 million tons by 2030.

“Marqeta is excited to be able to offer recycled cards to our customers like Cornershop, and to partner with a social enterprise like rePurpose to reduce the environmental impact of the plastic cards we issue,” said Jason Gardner, Founder and CEO of Marqeta. “This is a key step for Marqeta toward our eventual goal of plastic neutrality. It’s crucial that as a company we take it upon ourselves to be positive stewards of the environment, and by helping our customers reduce their plastic footprint, we also reduce our own.” 

Inc. Magazine has ranked Federos® number 3327 on its 2021 Inc. 5000 list—the most prestigious ranking of the nation’s fastest-growing private companies. Federos, a leading provider of cloud-enabled, AI-optimized assurance, analytics, and automation software, has achieved a rapid three-year revenue growth of 107%. The company’s success has been driven by its flagship solution, Assure1®, that monitors and manages the performance of critical networks and services for many of the world’s largest 5G service providers and enterprises.

The Inc. 5000 list provides a unique perspective on the most successful companies within the American economy’s most dynamic segment—its independent small and midsized businesses. Companies such as Microsoft, Dell, Intuit, LinkedIn, Yelp, Zillow, Under Armour, Patagonia, and many other well-known names gained their first national exposure as honorees of the Inc. 5000.

Not only have the companies on the 2021 Inc. 5000 been very competitive within their markets, but this year’s list also proved especially resilient and flexible given 2020’s unprecedented challenges. Among the 5,000, the average median three-year growth rate soared to 543 percent. Together, those companies added more than 610,000 jobs over the past three years.

“We’re honored to be acknowledged by Inc. Magazine for what the Federos team has accomplished, particularly considering the challenges that our employees and customers around the world have faced with the pandemic,” said Keith Buckley, CEO of Federos. “We continue to define the next generation of service assurance software to ensure the reliability and performance of critical networks and services shown to be so critical over the past 18 months. We’re extremely proud of our employees for making us one of the fastest-growing private companies in the U.S.”

“The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled,” says Scott Omelianuk, editor-in-chief of Inc. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people.”

 Biz2X today announced the introduction of a new rapid launch version of its Accelerate SBA platform for banks, at the America East Lending Conference in Philadelphia.

The digital lending platform is designed to give SBA lenders a powerful solution that can be launched in as little as 30 days. It comes as an increasing number of banks are adopting Biz2X to expand their SBA lending programs in an all-digital manner.

“We know that speed is important for banks and that’s why we have worked hard to make it faster to launch on this platform than any previous SBA lending tool on the market,” said Rohit Arora, CEO of Biz2X’s parent company Biz2Credit and one of the nation’s pioneers in FinTech.

“This new version of our Accelerate SBA platform can be deployed in just 30 days to meet the growing needs of community banks to digitize the SBA process,” Arora added. “We know this is critical for lenders, especially now that customers demand a smoother, simpler online application process.”

This rapid launch program from Biz2X is a new offering that leverages the Biz2X Accelerate SBA platform announced last summer. It provides a feature set that makes the transition from paper-based to all-digital SBA lending easy for banks and SBA-approved lenders. Available starting today, this platform version is purpose-built for banks who want to enter SBA lending or grow their SBA programs.

Features include:

• Omni-channel bank branded SBA Loan application to handle multiple loan types
• Built-in 3rd party data integrations including SBA E-Tran, credit bureau, and e-sign);
• SBA rules-driven logic checks eligibility and queues up relevant forms
• Banker Dashboard to manage, and track applications efficiently

Biz2X announced the new rapid launch platform version at the America East Small Business Lending Conference, where the company is a lead sponsor this year. Bankers who are interested in the new platform offering should contact Darren Hecht, SVP of Business Development for Biz2X, who is leading the company's delegation at the show.

Spice Money covers 95% of Indian rural pincodes, ensuring the reach of micro-ATMs to the unbanked and underbanked

Spice Money with its 7 lakh Adhikari network to address the digital and financial services needs of marginalised population in rural India to bring greater inclusivity and financial freedom

Spice Money, India’s leading rural fintech, has been promoting financial freedom among the rural population through its mission of bringing financial and digital inclusion to Bharat. In the journey of furthering this mission, Spice Money today announced that it has established a mammoth ATM network with 1 lakh Spice Money Micro-ATMs operating across rural India.  Strengthening the ATM infrastructure is a crucial leg in this journey, making the 1 lakh mark a significant milestone. The highest number of traditional ATMs installed by any bank in the country currently stands at approximately 60,000, making Spice Money the fastest growing mATM network in the country. Spice Money witnesses over Rs 1000 crores worth of transaction month on month basis on its mATM network.

India has come a long way since 1921, when traditional banking was closed and the Imperial Bank of India was the only bank offering services to Indians, to opening up to private players in the 1950s and to today becoming one of the leaders in the global banking and fintech revolution. While the access to banking in rural areas has been improving over the years, only 5% of the 6,00,000 villages had a commercial bank branch in 2019. When compared to global counterparts, India is among the countries to have the lowest ATM penetration in the world. While the country has nearly 650,000 villages, only one ATM is available for 10 villages. Over 65% of the Indian population resides in rural India, however, rural areas account for only 20 percent of all ATMs in the country. Infrastructural costs, low usage due to lack of awareness, inconsistent availability of electricity, theft, vandalism are some of the major deterrents for ATM operators in rural areas. Such challenges continue to slow down the provision of basic banking amenities to this segment of population.

Rural incomes are rising, pushing up the demand for banking services in rural India. India’s digital footprint is expanding, enabling digital banking solutions that bring the underbanked and unbanked rural areas on the map of the banking system. Spice Money, as a company integrating technology into the rural financial network, is enabling its Adhikaris (banking correspondents), next-door Kirana stores/ stationery shops or any individual with access to internet, to equip themselves with the Spice Money micro-ATMs and turn their businesses into a Spice Money ‘Digital Dukaan’, offering essential banking services of cash withdrawal and deposit to their local communities. Especially during the pandemic induced lockdown, micro ATMs emerged as the key driver to assist people with cash withdrawal and other essential services. Spice Money’s mATM network grew multifold from just over 18,000 in Feb 2020 to over 1,00,000 as on today. The Company covers 95% of the rural pincodes in India with more than 7 lakh Adhikaris on its network, maximising the reach of the micro-ATMs to the financially underserved and cash-driven parts of the nation.

Sanjeev Kumar, Chief Executive Officer, Spice Money, said, “Spice Money’s mission since its establishment has been financial inclusion of the rural population of Bharat, thereby, bringing in greater financial freedom to end users as well as our rural entrepreneurs, Adhikaris. As we step into the 75^th year of Indian Independence, we are privileged to be celebrating this landmark year by delivering on this promise.”

Sanjeev further added, “As of March-end 2021, India had just 2.39 lakh ATMs for a population of over 1.3 billion. This number establishes the inadequacy of the ATM infrastructure in our country to address the needs of the semi-urban and rural economy that is growing on the back of direct benefit transfers through Jan Dhan accounts. The ATM network in these parts has, in many cases, witnessed a de-growth, causing the cash-heavy economy to struggle with low access to digital financial services. This is a huge deterrent for financial inclusion in the country. Spice Money has persistently been working towards expanding the micro-ATM network to all corners of India bringing financial and digital empowerment so that rural consumers can access their own money and attain financial freedom. While establishing a lakh-strong ATM network is a milestone for us, we will continue growing our reach and supporting more rural customers in their financial needs.”

Sonu Sood, Brand Ambassador and Advisory Board Member, Spice Money, said, “I have been supporting small businesses with more growth opportunities so that they can prosper and also benefit the local community that they operate in. Spice Money micro ATM is a perfect fit for such small business owners who can now convert their businesses to Spice Money Digital Dukaan, in zero cost, and provide an additional service of essential banking products to their customers. Micro-ATMs can play the increasingly crucial role of bridging the gap in financial services by bringing the convenience of banking transactions right to the next door kirana stores in rural India.” 

Earlier this year, Spice Money introduced an initiative offering the company’s micro-ATM devices at effective zero cost to further accelerate its vision of financial inclusion and encourage Adhikaris to become a part of building an extensive ATM network. In May 2021, Spice Money became the first company to introduce an ATM in India’s last village, Chitkul, Himachal Pradesh, where one of the only two kirana stores was converted into a Spice Money Digital Dukaan after being equipped with a micro-ATM. Before this, the closest ATM for the residents of Chitkul had been 25 kilometres away in Sangla. Spice Money plans to cover more such far flung remote areas with its micro ATM network.

RegTech company and provider of advanced anti-financial crime compliance solutions, Napier, has announced that its sophisticated AI-enhanced technology has been chosen by BCB Group, a crypto-dedicated provider of payments, business accounts and trading services for the digital asset economy.

BCB Group will use Napier’s Transaction Screening and Transaction Monitoring tools to flag any suspicious activity as it happens, and to support its ongoing commitment to leading the way with anti-money laundering compliance in the UK crypto market.

BCB Group became the first crypto-focused company to be regulated as an Authorised Payments Institution by the UK Financial Conduct Authority and provides an end-to-end suite of payment processing, cryptocurrency trading, foreign exchange and custody services. The Group works with some of the leading blockchain companies, including cryptocurrency exchanges, market makers, brokers, investment managers, hedge funds and digital asset investment funds.

Oliver von Landsberg-Sadie, Founder and CEO at BCB Group, said: “Since establishing BCB Group four years ago, we have always prided ourselves on our commitment to best practice and having the highest regulatory standards in the UK crypto market. Because of this, it was essential for us to adopt the very best anti-financial crime technology, and that’s where Napier comes in.

“An integral part of our onward anti-money laundering compliance strategy, Napier’s AI-enhanced solutions will allow us to focus on the fast evolution of digital asset innovation while remaining in full compliance with some of the most stringent regulations in force globally.”

BCB Group joins a growing list of companies around the world that have partnered with Napier in their anti-financial crime compliance, including tier one banks, payment services, FX, crypto and other financial services. With a presence in the UK, North America, Australia, Singapore and the Middle East, Napier’s global footprint is also growing, recently establishing its UAE-base in Dubai.

Julian Dixon, CEO of Napier, said: “Our technology reduces the growing compliance burden on firms such as BCB Group. It can spot unusual transactions, reduce false positives and identify risk easily and quickly, relieving the pressure on internal teams. This is increasingly as important for operators in emerging financial services markets, such as crypto, as it is for traditional institutions. Our solution is agile and robust enough to provide advanced compliance support across the board, even as financial crime continues to evolve in its complexity.”

Partnership increases speed of logistics and ease of conducting trade globally

Digital trade finance network Contour has partnered with the Global Shipping Business Network (GSBN) to offer an end-to-end digital solution for all participants involved in trading, financing and shipping goods around the world.

Pandemic-induced lockdowns and the subsequent explosive growth in e-commerce, have pushed the logistics industry to its limits, but inefficient manual processes are still commonplace and are creating bottlenecks. GSBN’s blockchain-enabled operating system and its product Cargo Release enables highly efficient and transparent digital sharing of verified logistics and cargo data. This streamlines business operations across the whole supply chain, cutting the time for cargo to be document ready for release from days to a matter of hours.

The partnership with Contour’s network, which digitises paper-based trade finance processes such as Letters of Credit (LCs), will drive interoperability for users of both solutions. By harnessing both solutions, corporates can experience a seamless connection between the physical supply chain and the financial system.

The partnership will support the entire workflow involved in trading goods around the world – from accessing trade finance and managing the documents underpinning the shipping process, to having goods released from a port. Participants including importers, exporters, logistics service providers, and financial institutions will all benefit from improved efficiency and reduced cost.

GSBN’s large and growing footprint complements Contour’s established presence as a leading digital trade network across Asia and beyond. Contour continues to expand its network of partners across the region, and recently launched its first domestic offering in Bangladesh.

Based in Hong Kong, GSBN is the world’s first independent, not-for-profit technology consortium to build a blockchain-enabled operating system to redefine global trade. Its founding members include major global shipping lines and terminal operators accounting for one in every three containers handled in the world. These include COSCO SHIPPING LINES, COSCO SHIPPING Ports, Hapag-Lloyd, Hutchison Ports, OOCL, SPG Qingdao Port, PSA International and Shanghai International Port Group.

Carl Wegner, CEO at Contour, said: “The global logistics and shipping industry – like trade finance – is in critical need of digitization. Counterparties need to be able to interact with trust, certainty and security – both in the way they finance trades and in the processes that support the physical shipment of goods. The problems that have beleaguered global trade for years are slowly becoming a thing of the past as adoption of innovative digital technologies picks up pace. We look forward to working with GSBN to further accelerate this industry-wide shift”.

Bertrand Chen, CEO at GSBN, said:  “Today’s global shipping industry is struggling to keep up with the rising complexities of supply chains, markets and economies. Digital transformation is key to addressing these challenges, but this can only be achieved by breaking down the different silos in the supply chain. This partnership with Contour breaks down another silo by connecting the physical supply chain to the underlying financial system. This will pave way for more trusted collaboration between market particpants, as well as a more efficient and resilient global supply chain.”

A wide and growing range of industries, such as metals, energy, petrochemicals, textiles, soft commodities and retail have conducted successful LC transactions on the Contour network, and Contour has recently announced that it will soon expand beyond letters of credit following its successful funding round.

PayU, the payments and fintech business of Prosus, today announces that its controlled company Red Dot Payment, a South East Asia focused online payment solutions provider, has received direct acquiring licenses and connectivity to Visa and Mastercard.

The expansion of PayU’s offering in South East Asia with Red Dot Payment’s direct credit card acquiring license opens up new opportunities for merchants to offer card payments and process payments locally. New capabilities will be available to both domestic merchants expanding across borders and international merchants integrated with the PayU Hub, PayU’s global platform to process cross-border payments.

Increased performance, higher conversion rate, faster authorization

A direct connection to Visa and Mastercard will make it easier for merchants expanding their presence in South East Asia to process higher volumes of payments in currencies such as USD, SGD, JPY and EUR. In addition, they will also benefit from improved authorisation and acceptance rates. As the connection is made via a single API integration (PayU Hub), more data insights will be available for merchants to optimise processes and support further revenue streams.

Mario Shiliashki, CEO, Global Payments Organisation, PayU:

“At PayU, we are focused on providing our merchants with the tools and capabilities to expand across borders, particularly in high-growth markets like South East Asia where e-commerce has proven its socio-economic advantages. With these new acquiring capabilities of Red Dot Payments, we are helping global merchants reach even more consumers across the region.”[JG1] 

The average proportion of online transactions in South East Asia has increased from 52% in the pre-COVID period to 63% with the e-commerce market expected to reach $172 billion by 2025. This makes the region one of the final destinations for global e-commerce players aiming to accelerate their growth.

David Owyong, Chief Operating Officer at Red Dot Payment:

“The Visa and Mastercard licenses are the next step in our journey to make payments and e-commerce more accessible. We believe that conquering e-commerce requires a global perspective and we pride ourselves on working closely with our merchants to help them harness the power of payments. As we overcome the turbulence of the past 18 months, we believe that the hospitality sector is the next industry where we’ll witness huge advances when it comes to e-commerce. We’re working to support local merchants in this field as well as create a secure environment for international companies with ambitions to serve consumers in South East Asia”

While legislation and the introduction of new regulations aim to combat fraud and corruption, South African businesses have the power to fight financial crimes by ensuring consistent Know Your Customer (KYC) procedures are in place.

This is according to Sameer Kumandan, Managing Director of SearchWorks, South Africa’s largest innovative data aggregation platform. SearchWorks allows users to perform live, credible individual, company, and property searches via more than 160 different search types. “With the obvious exception of the Financial Intelligence Centre Act (FICA), there is no universal set of KYC protocols for businesses to follow. Although demand is growing for more vigorous checks, the risk of businesses not carrying out KYC checks is substantial,” notes Kumandan.

PwC’s biennial Global Economic Crime and Fraud Survey found that South Africa’s rate of economic crime continues to remain significantly higher than the global average of 47 percent. Added to this is the stark reality that the incidence of high-value serious economic crime, or crimes with a value greater than US$100 million, is now 4 percent.

“Keeping the tainted funds of corrupt individuals and their networks out of the legitimate financial system is a vital outcome of effective KYC procedures. SearchWorks offers business the ability to perform a detailed Politically Exposed Person (PEP) and Sanctions checks when onboarding new customers, as well as during the ongoing review of clients, to ensure that the organisation’s reputation, revenue and capital are well protected,” says Kumandan.

He adds that with respect to financial regulations, a Politically Exposed Person (PEP) refers to an individual entrusted with a prominent public function. A PEP generally presents a higher risk for potential involvement in bribery and corruption by virtue of their position and the influence that they may hold. “Equally important is a Sanctions screening check which confirms whether a person has been placed on global law enforcement and sanctions lists and are allowed to make financial transactions. These quick, simple and cost-effective checks give businesses instant access to crucial data to foresee and mitigate serious financial and reputational harm.”

SearchWorks recently added new search types aimed at enhancing KYC checks, these include a new ID photo verification search which enables the retrieval of an individual’s most recent identity or passport image by using just an ID number, as well as a CSI spousal verification check to verify whether associated spousal information is available.

“It is impossible to eliminate risk completely. However, by broadening the basic requirements of FICA and implementing more stringent KYC measures, more South African businesses can stop fraud and financial crime in its tracks,” says Kumandan.

Indian investors can now invest in the world’s biggest stock markets and create a globally diversified portfolio

Religare Broking Ltd. through its partnership with Vested Finance has introduced foreign stock markets on its broking platform wherein clients can diversify their portfolio with international stocks. 1 million customers of Religare Broking can enjoy the benefits of geographical diversification and safeguard their portfolios from a single currency risk. This partnership will enable investors to directly invest in US stocks that they consume on a regular basis including Apple, Amazon, Netflix, Facebook, etc. Vested Finance is an online investment platform that enables Indian investors to invest in the US stock market in a smooth and hassle-free manner.

Religare Broking Ltd. and Vested Finance will provide Indian investors an exposure to the US stock market which captures over 50% of the global equity value via multiple investment instruments like stocks, ETFs, and curated investment portfolios called Vests. Investors can invest in fractional shares with as low as USD1. The entire process involves digital on-boarding, commission-free investing, seamless USD deposits and easy withdrawals.

Vests are curated portfolios that allow investors to get started in an easy manner and this is a natural fit in Religare’s renowned research-led platform. Through Vests, investors can invest in themes like SaaS, Digital Cash, All Weather Portfolios and across multiple asset classes depending on investors’ risk profile.

Announcing the partnership, Gurpreet Sidana, Chief Operating Officer, Religare Broking Ltd. said, "There is a clear interest and demand for international equities as Indian investors look for avenues to diversify their portfolios and take advantage of the burgeoning international stock markets. Besides, we live in an age where investors are increasingly aware of global brands in exciting sectors including new-age businesses, technology and healthcare. With Vested, investors can also look at ready portfolios and research that can help them make an informed decision."

Speaking on the partnership, Viram Shah, Co-Founder & CEO, Vested Finance, said, “At Vested, we believe that global investing is truly a need rather than a choice and we are excited to partner with Religare to make the world’s largest market accessible to Indian investors. There is growing awareness among Indian investors to diversify their portfolio internationally. It has never been easier to access the global markets from India. At Vested, our mission is to enable sustainable wealth creation by enabling these investors to go global.”

Following are some of the features of the offering:

         Zero commission - Unlimited transactions in US stocks with zero brokerage charges*

         Fractional investing - Ability to buy less than one share, enabling to invest as low as $1 for high priced shares such as Tesla, Apple, Amazon, Google, or Berkshire Hathaway

         Vests - Professionally curated portfolios of stocks and ETFs

         Simplified remittance process - Partnerships with banks to enable cost-effective fund transfers

         Investor support and safety – Assistance for the investors throughout the journey along with safety and security of the funds via SIPC and FDIC insurance

         Basic and Premium plans are offered by Religare Broking for investing through Vested Finance and the limited period offer has a discount voucher accordingly.

 OctaFX international broker has recently discovered an advanced strategy of traders' deception. New fraudulent schemes have turned up in the Malaysian Forex community.

Scammers have undertaken a scheme where they are falsely representing not only brokers and third-party organisations but well-known official organisations related to the government as well. OctaFX warns the general public and recommends contacting brokers directly via official web resources if any suspicions arise.

Earlier, the broker had developed a security checklist aimed to help their clients identify possible fraudulent websites and activities and make trading safer. The following recommendations are broker-specific but apply to everyday online activities as well.

• Keep your personal information secure and never share it with anybody. If anyone writes to you asking for your account details, that is most likely a scam attempt. All your data is secure within your account.
• All your payments must be processed through your Personal Area on the broker's official website or in their official Apps. This is most likely a scam if someone asks to send payments through other means or channels, like messenger apps or personal transfers. Don't hesitate to report such a person to authorities or the broker's  Customer Support.
• To identify the authenticity of OctaFX local pages, use their domain-checker extensions (e.g. for Google Chrome for OctaFX). If the domain name is different, this is a fraudulent website, or someone uses intellectual property illegally.
• When you see the broker's logo online, double-check the domain name. Always assume that fraudsters will be using some version of the brand name to try and trick you.
• Be careful when on social media. Broker's official social media accounts are usually listed on their official website. Unfortunately, multiple copycats appear daily, so it's important to stay vigilant, especially when engaging with Telegram and Facebook groups.
• Stay vigilant when engaging with Telegram and Facebook groups that claim to represent your broker.
• Cross-check the news published on the web about special offers and partner activities with official news on the broker's website and official social networks. If it's not mentioned there, most likely, you are about to be scammed.