Published
- 02:00 am

Safexpay, a leading digital payments company, announces the expansion of its tailored suite of payment solutions in three key GCC (Gulf Cooperation Council) countries- Saudi Arabia, Qatar, and Oman to cater to the unique needs of businesses and consumers in the region. This strategic move represents a significant step forward in Safexpay's mission to reshape the future of payments, solutions and foster innovation in these dynamic Middle Eastern markets.
The product offerings in these nations encompass a comprehensive range of solutions designed to cater to specific market requirements. . These include, a White Labelled Payment aggregation, Payouts solutions, contactless payments like Facial Recognition-Based Payments, and Single-Click Checkout features viz. Aasaan.
To support its expansion into the GCC region, Safexpay has strategically partnered with prominent organisations in the UAE, such as Magnati, Abu Dhabi Islamic Bank, Paynest, Dubai Chamber of Commerce, Rakbank and Network International. These partnerships are instrumental in enabling Safexpay to on-board merchants seamlessly and provide tailor-made solutions for their businesses, ensuring that their expertise and value proposition reach the right players in the market.
Safexpay is committed to investing approximately 10 million USD in the GCC region to ensure the success of its operations and provide world-class payment solutions. The company anticipates remarkable growth in the GCC region, with expectations of achieving an annual growth rate of 80-100% by 2025.
"Our focus has always been on creating a global network effect and contributing to the fintech and techfin space by innovative solutions. The decision to target Saudi Arabia, Qatar, and Oman was a natural progression for Safexpay. The GCC countries, including the UAE, Qatar, Oman, and KSA, are witnessing exponential growth in contactless payments and are actively exploring innovative ways to serve consumers and businesses. This presents a significant opportunity for Safexpay to make a meaningful impact. We aim to on-board around 5000 merchants over the next 2-3 years, further cementing its presence in these markets, our value proposition is offering omnichannel platform for merchants, which is first of its kind in GCC markets" stated Ravi Gupta, Founder and CEO at Safexpay.
With an estimated count of 4 million Micro, Small, and Medium Enterprises (MSMEs), the substantial prospective customer market extends across Saudi Arabia, Qatar, Oman, and the UAE. Safexpay envisions becoming the preferred payment service provider for customised solutions in the fintech space within the region. It embodies the “India to the world” sentiment with commitment to establishing an indelible mark in the international fintech space by catering to the unique needs of businesses and consumers in Saudi Arabia, Qatar, and Oman. Moreover, Safexpay has set its sights on further expansion into neighbouring markets once its presence is well-established in the GCC region. This expansion plan aligns with the company's strategy of creating a strong foothold before broadening its reach.
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- 04:00 am

Resistant AI, the AI- and machine learning-powered financial crime prevention specialists, today announces that Silverbird, the digital alternative to traditional banking making business payments borderless, limitless and affordable for international merchants, has adopted Resistant AI’s Document Forensics to secure its customer onboarding process.
Resistant AI’s technology will enable Silverbird to increase the efficiency and accuracy of its customer onboarding (KYC) and source of funds (SOF) checks for its merchants making transactions across 195 countries, in 30+ currencies, 100% of which are carried out online. The technology will quickly and accurately validate the decisions made by the Fraud and Risk team at Silverbird, supporting business growth without additional time burden for the team.
Silverbird offers its business customers multi-currency accounts for foreign payments, which are easier to work with and faster than banks due to the speed with which payments can be made. For example, 98.9% of transactions through Silverbird are instantaneous, with the remainder 1.1% taking just a couple of days. With 500-plus merchants across 200 countries worldwide, working in multiple industries and currencies, customer onboarding is currently undertaken through an online portal to submit incorporation documents and proof of address (POA) to verify that the business is genuine. Resistant AI’s technology uses over 500 detectors to analyse the internal structure of a document, its metadata properties and visual structure to streamline and enhance Silverbird’s application process, which is of huge importance to the company at their current stage of growth.
Resistant AI’s Document Forensics is a proven technology that increases the speed of customer reviews and onboarding, using machine learning to verify the authenticity of digital documents from across the globe in seconds.
Martin Rehak, CEO and Founder of Resistant AI says, “We look forward to helping Silverbird revolutionise their onboarding process, becoming more efficient and reducing risk in an industry that is increasingly attacked by fraudsters. Silverbird will be better equipped to adapt to progressively pernicious threats, and we are proud to support them on their journey to expansion.”
Max Faldin, CEO and Founder at Silverbird says, ‘Across our industry we’ve witnessed a spike in forged documents, and those are just the ones we’ve spotted. If you apply the same metric to ones you can't see - it’s clear that it’s a growing challenge, with gangs of fraudsters knowing how to do this better than ever before. By using Resistant AI’s Document Forensic solution we will be better able to detect the advanced fraud tactics that are almost impossible to spot with the naked eye, across a huge number of data points. We are keen to pass on the benefits of this increased security to our customers as our business grows.”
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- 01:00 am

AlHuda Center of Islamic Banking & Economics (CIBE) and the Zimbabwe Association of Microfinance Institutions (ZAMFI) are pleased to announce their collaboration in hosting a specialized two-day training workshop on "Islamic Banking, Finance & Islamic Microfinance." The training is scheduled to take place on October 10th and 11th 2023, in Harare, Zimbabwe. This unique training opportunity aims to equip professionals, practitioners, and regulators with the knowledge and skills needed to harness the benefits of Islamic finance in the microfinance sector.
This program is designed to provide a profound understanding of various facets of Islamic finance, catering to a wide spectrum of topics. Participants will delve into critical subjects, including the prohibition of Riba (interest), gaining insights into the Islamic banking and finance industry, exploring trade-based modes such as Murabahah, examining partnership-based modes like Mudarabah and Musharakah, and understanding rental-based modes. Furthermore, the program will offer a dedicated exploration of Islamic microfinance.
One of the primary objectives of this initiative is to equip participants with practical implementation skills, enabling them to effectively apply Islamic finance principles within microfinance institutions. As the demand for Islamic finance solutions continues to grow, this program will serve as a cornerstone for enhancing expertise and fostering the adoption of ethical financial practices.
Mr. Muhammad Zubair, the CEO of AlHuda Center of Islamic Banking and Economics (AlHuda CIBE), has expressed his belief in the growing demand for Islamic banking and finance within Zimbabwe. He views the training program as a valuable opportunity to equip participants with the knowledge and skills necessary to excel in the rapidly evolving microfinance sector of the country.
In his statement, Mr. Zubair highlights the importance of Islamic microfinance in promoting financial inclusion and alleviating poverty. He recognizes that Islamic microfinance serves as a powerful tool for extending financial services to low-income and marginalized communities. This means that individuals who may have previously been excluded from traditional financial systems can now access essential financial resources, fostering economic empowerment and stability.
Mr. Godfrey C. Chitambo, the executive director of the Zimbabwe Association of Microfinance Institutions (ZAMFI), shares Mr. Zubair's enthusiasm for this training program. He sees it as a valuable opportunity for Zimbabweans to gain knowledge about Islamic banking, finance, and Islamic microfinance.
Mr. Godfrey C. Chitambo is confident that this training will contribute significantly to the development of Islamic finance within Zimbabwe. By providing participants with insights into Islamic financial principles and practices, he believes that the program will help raise awareness and build expertise in this growing sector.
In summary, both Mr. Zubair and Mr. Godfrey C. Chitambo recognize the potential for Islamic banking and finance to positively impact Zimbabwe's financial landscape. They opine this training initiative as a means to empower individuals and institutions with the necessary skills and knowledge to participate effectively in the expanding world of Islamic microfinance, thereby contributing to the economic growth and financial well-being of the nation.
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- 03:00 am

Bank ABC has announced the launch of ABC Trade, a unique cloud-based, digital platform powered by Swiss market-leading technology provider, Komgo SA, offering clients an enriched product suite for Documentary Trade.
The platform delivers end-to-end life-cycle functionality across all trade instruments (imports, exports, and collections) from digital exchange of trade documents, instructions, and free format communication with seamless integration with the Bank’s downstream Trade Finance systems. The platform benefits from enhanced Audit and Due Diligence controls that are compliant with industry best practices. Additionally, the platform contributes towards sustainability with reduced paper waste and human efforts as well as overall enhanced end-to-end process efficiency.
The bespoke platform marks an unprecedented milestone for the Bank, building on 40+ years of global Trade Finance experience. ABC Trade is currently available for our corporate clients across GCC with plans to expand across the Bank’s network in a phased approach.
Mr. Amr ElNokaly, Bank ABC’s Group Head of Wholesale Banking commented, “We at Bank ABC recognised early, that adopting a “digital-only” model is the only way forward for our industry. Our digital transformation program is gaining momentum and the launch of our ABC Trade platform marks a landmark moment in this journey. Komgo’s best-in-class technology instantly elevates our clients’ banking experience and strengthens our business offering”.
“Listening closely to the evolving needs of our clients, Bank ABC has co-developed a unique digital platform offering with Komgo by leveraging a market-leading technology and is establishing a new financial ecosystem in the region that will facilitate sustainable growth and scalability,” he added.
With innovation at the heart of its strategy, Bank ABC is committed to delivering the best digital banking experience to its customers, investing in product innovation to meet customers’ demand to support their Trade finance ecosystems. Under its multi-year digital transformation programme, the Bank has deployed several award-winning initiatives and is actively seeking opportunities to establish desired synergies towards a common goal that drives innovation and provides value to its customers and the industry at large.
Komgo’s CEO Souleima Baddi, commented, “Bank ABC's commitment to innovation is evident in its digital transformation program, which aims to provide the best banking experience for customers. Our ongoing collaboration is poised to reshape the landscape of documentary trade in the MENA region and beyond, offering a more efficient, secure, and sustainable solution for trade finance needs.”
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- 03:00 am

Cross-border payments company bridge21 announced its partnership with Bitso, the leading Financial Company powered by Crypto in Latin America, to expand their support for local payments from the US, throughout Latin America.
According to a report, the overall cross-border payment market stood at $176.5 billion in 2021 and should reach $238.9 billion by 2027. As the world becomes more global and technologies like blockchain make it possible to move money between countries in a faster, more accessible and transparent way, companies of all sizes can take advantage of this to develop and grow at an accelerated pace that was previously not possible by the traditional mechanisms.
Bridge21 has been a Bitso client for the last 7 years and has used the platform to provide services to its clients who send mass or unique payments from the United States to Mexico, now it extends its relationship to an alliance with which it will expand its services to businesses in the countries where Bitso currently operates, with exceptional speed and efficiency.
“We are excited to expand our service and help connect the world to Latin America for business payments. We’ve used Bitso’s technology for over seven years and it is extremely robust. We’re excited to grow this new line of business,” Will Madden, CEO at bridge21, said.
Recently, the Latin American firm has embarked on an intense period of growth of its services to companies, from its Bitso Business division, it recently launched its International Payments services platform and today it has a portfolio of more than 1,500 institutional clients that use these services.
“The evolution of our relationship with bridge21 fills us with pride, because it is testimony to the power that crypto technology and the blockchain have to solve concrete problems of companies and facilitate their operation with simple and real-time payments between countries, and proves that we are building the infrastructure for the future of money together,” Eduardo Cruz, Head of Partnerships at Bitso Business, said.
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- 07:00 am

Leading digital compliance provider SmartSearch has added a new ‘risk assessment’ solution to its recently enhanced platform.
To prevent inconsistency when assessing subject risk, the service will significantly reduce the amount of time it takes to collect information, evidence compliance and ensure better decision-making.
Customisable to suit each user’s needs a risk assessment questionnaire is sent to search subjects to complete, with the responses automatically collected and the results collated, enabling the user to determine the risk profile of a subject at-a-glance.
Results appear as a search in the subject record, keeping everything in one place. The system also allows for multiple questionnaires at different parts of the process, including follow-up questions if more information is needed.
Martin Cheek, SmartSearch managing director, said: “Clients in all regulated sectors need to assess risk as part of their compliance obligations. We were particularly keen to help our clients standardise their processes and evidence compliance in line with their own business model and risk appetites.
“The new risk assessment solution is the latest enhancement to our platform and one that we are sure will save considerable time and take the guesswork out of this important step in the verification process. This addition brings even more of our customers’ compliance journey onto one easy to access platform.”
The service is fully customisable to individual business needs and forms part of a single customer journey. The solution delivers a seamless additional level of security, giving firms peace of mind.
SmartSearch’s digital compliance solution supports more than 6,000 clients and 55,000 users across the world, helping them deploy millions of complex identity checks in seconds through a single platform.
The platform is already trusted by one in three of the UK’s top 200 law firms, 1 in 2 of the top 100 accountancy firms and more than 1,000 property companies.
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- 09:00 am

In response to the accelerating trend towards data-driven decision-making across the banking landscape, KlariVis is thrilled to share that it has now been selected by over 85 banks as their preferred data and analytics partner.
KlariVis is at the vanguard of reshaping data analytics in the banking sector. By establishing a single source of truth for data integrity and providing teams with consistent, timely, and precise reporting, KlariVis is revolutionizing how banks leverage information. The comprehensive and intuitive KlariVis platform, developed by former bank leaders, centralizes a bank’s fragmented high-value data into interactive self-service dashboards and reports that drive profitability and improve productivity at every level of the organization. With over 650 interactive and static dashboards, teams can make informed decisions with simplicity, bypassing the complexities of the antiquated reporting processes of the past.
Recent additions to the KlariVis’ roster of bank partners range in size from just over $100M in assets to several billion. KlariVis consumes data from any core and ancillary system and turns it into intuitive, interactive data visualizations, making it an ideal solution for any institution. As a result, the company continues to chart an exceptional YOY growth rate surpassing 200% for the second year in a row.
The newest additions to KlariVis include:
- Century Bank & Trust in Georgia with $368M in assets
- Community National Bank & Trust of Texas with $1B in assets
- Dream First℠ Bank in Kansas with $464M in assets
- Fidelity Bank in Pennsylvania with $2B in assets
- Kitsap Bank in Washington with $1B in assets
- Minster Bank in Ohio with $706M in assets
- Oakstar Bank in Missouri with $2B in assets
- Oxford Bank in Michigan with $792M in assets
- The Bank of Tampa in Florida with $3B in assets
- The First State Bank of Rosemount in Minnesota with $106M in assets
- Village Bank in Virginia with $723M in assets
- Bankwell in Connecticut with $3B in assets
- National Bank of Indianapolis with $2.8B in assets
- Opportunity Bank of Montana with $2B in assets
Century Bank & Trust has been proudly serving its community since 1901. The bank is committed to providing superior experiences for customers, a positive impact on the communities it serves, and rewarding careers for its employees.
“We are very excited to work with KlariVis, an ICBA Preferred Service Provider and ThinkTECH Accelerator alumni,” said Derek Williams, President & CEO of Century Bank and Trust. “We are thrilled to partner with KlariVis because they truly understand the unique challenges community bankers face from first-hand experience, which allows them to deliver the critical insights we need to better serve our customers.”
At locally-founded Village Bank, customers are neighbors - not numbers. The bank believes in supporting the communities that have supported them and is committed to the communities in which they do business.
"As we searched for a strong data and analytics partner, KlariVis' reputation preceded them,” said James E. (Jay) Hendricks, President & CEO of Village Bank. “The decision to partner was simple – they provide an innovative solution that is built by bankers for bankers and aligns well with our goals to leverage data and technology to drive productivity and agility. KlariVis isn't just assisting us in understanding our data, they're empowering us to rethink what's possible with our data.”
Opportunity Bank aims to bridge the gap between traditional banking and underserved communities, offering a wide range of banking products and services designed to meet the unique needs of its diverse customer base.
“Partnering with KlariVis was an easy decision for us,” said Laura Clark, President and CEO of Opportunity Bank. “Their expertise as former bankers have already proven valuable, positioning us for success right from the start. The road ahead looks promising, and we're thrilled to have KlariVis as our partner, propelling us into a data-driven future."
"In the evolving financial landscape of today, actionable data is no longer a luxury, but a necessity,” said Kim Snyder, CEO and Founder of KlariVis. “This truth is vividly reflected in the selection of over 85 forward thinking community banks that have chosen us as their preferred data and analytics partner. As banks continue to strive to harness invaluable business intelligence, we stand ready to provide real-time insights, enabling informed decisions, pinpointing areas for enhancement, and propelling growth.”
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