Bitso —the leading financial services company powered by crypto in Latin America— released the first edition of its Crypto Landscape in Latin America: Report H2 2023, in which it reveals the importance that the use of blockchain and crypto assets have gained, both in the region and locally.

This x-ray on crypto adoption in Latin America presents demographic data and comparisons of use that reveal the interests of people in the region regarding the adoption of this technology, as well as specific preferences and utilities according to the needs of each country in which the company operates (Argentina, Brazil, Colombia, and Mexico).

Bitso turns 10 in 2024 and celebrates with the presentation of the first edition of the document that will be issued semiannually. Among the findings of the report, it stands out that bitcoin remains the most popular cryptocurrency, with a presence of 53% in the average Bitso portfolio compared to the global average of 50.4%, although there are exceptions, such as the case of Argentina.

Regarding the purchase behavior during the second half of 2023 in the region, 38% corresponded to bitcoin and 30% to stablecoins anchored to the US dollar. Some of the relevant data for each country are:

• Argentina: It is the country that stands out the most in the acquisition of digital dollars compared to the purchase of bitcoin as a response to the political and economic context, which has promoted the acquisition of stablecoins as an alternative to inflation and devaluation. For this reason, 60% of crypto asset purchases through Bitso correspond to USD (digital dollars) and only 13% to bitcoin.
• Brazil: Ranks first in Latin America with the highest adoption of crypto and ninth worldwide. This territory has been characterized by a highly diversified cryptocurrency portfolio, where altcoins and meme coins are added to the most common currencies, although bitcoin has a large presence in the portfolios and represents 58% of the total holding.
• Colombia: Bitso had a 60% year-on-year growth in people who registered on the platform, there is great interest in the use of stable currencies, which represent 31% of total digital currency purchases. It is also the country with the highest number of women using the platform, who represent 33% of the total.
• Mexico: During 2023 it entered the top 20 countries with the highest adoption of crypto, and showed an 18% year-on-year growth in use of the platform. For clients in Mexico, the importance of bitcoin stands out, which represents 53% of the average portfolio in 2023 and 40% of the purchase preference, 2 percentage points above the regional average. It is also the only country where cryptocurrency XRP has a representative presence due to the transfers enabled by cryptocurrencies between the US-Mexico corridor, it is also the territory with the lowest presence of digital dollars in portfolios, with a presence of only 5%.

Daniel Vogel, Bitso's Cofounder and CEO, highlights In the introduction of the report: “Ten years ago, the market cap of the crypto industry was less than US$10B, today we stand at over US$1.5T. Ten years ago our journey began with a vision to harness the power of Bitcoin to create more inclusive and efficient financial systems. Today, Bitso stands at the forefront of this financial revolution, not just as a platform but as a catalyst for change.”

This report seeks to contribute to a better understanding of the use cases of cryptocurrencies in Latin America, as well as to highlight the behavior and growth in a year of great challenges for the industry, which will undoubtedly help the creation of products based on blockchain. and crypto that continue to solve the specific needs of people in each territory.

iDenfy, a Lithuania-based RegTech company best known for its full-stack ID verification service, announced a new partnership with RaiseFX, a prominent player in the online CFD broker sector. This partnership will help RaiseFX create a user-friendly ID verification workflow, enabling users to access trading and investment opportunities in seconds. 

RaiseFX is a player in the highly competitive online CFD trading market. CFDs (i.e., Contracts for Difference) are financial instruments that enable speculation on upward or downward fluctuations in an underlying asset without assuming ownership. When engaging in CFD transactions, in essence, you are investing in a financial derivative as well. The company offers to trade CFDs with a competent license and advantageous conditions.

RaiseFX stands out from other competitors because of its unwavering commitment to customer success. It comprises a team of passionate traders who ensure that the trading conditions play in client satisfaction and success side. To create an unparalleled experience, RaiseFX has introduced a unique offer, currently regarded as the best on the market. The platform utilizes MetaTrader 5 all-in-one trading platform with over 500+ product assets on the catalog. The platform is renowned for having an easy-to-use interface with many customization options. 

However, with the increasing rate and cost of data breaches, RaiseFX recognizes the need for robust cybersecurity measures. In 2021, 323,972 internet users reported falling victim to phishing attacks, and during the height of the pandemic, phishing incidents rose by 220%. Additionally, in a recent survey, 3% of small and medium-sized enterprises agree that cybersecurity concerns need immediate action, with 78% stating they will increase investment in cybersecurity in the next 12 months.

To address these challenges, RaiseFX has decided to proactively protect itself from cyber attacks, prioritizing the safety of the customer onboarding experience. Seeking a reliable partner for business security and improved operational efficiency, RaiseFX carefully selected iDenfy over other potential collaborators. iDenfy's exceptional industry reputation and comprehensive suite of security solutions made it the ideal choice. RaiseFX has seamlessly integrated iDenfy's identity verification and Anti-Money Laundering (AML) screening solutions, ensuring a secure and compliant trading environment for users.

The collaboration with iDenfy has proven to be highly needed in overcoming significant challenges faced by RaiseFX. Key issues related to fraud prevention, streamlined onboarding processes, and compliance with regulations have been effectively addressed, thereby fostering a more secure and efficient trading platform. At the core of RaiseFX's priorities lies an unwavering commitment to customer satisfaction, security, and providing the best trading conditions in the industry. 

David Bottin, CEO of RaiseFX, declares, "Our commitment is to create an environment where our clients can thrive. By ensuring customer satisfaction, robust security, and the best trading conditions, we are setting new standards in the industry. Our collaboration with iDenfy is a strategic move towards enhancing the security and efficiency of our platform. Together, we aim to set new standards in the realm of financial technology."

The collaboration between RaiseFX and iDenfy is not just a one-time venture. According to iDenfy, it will mark the beginning of a dynamic partnership committed to continuous innovation and growth. Both companies are dedicated to staying at the forefront of industry advancements, consistently exploring new technologies and strategies that will further enhance the online CFD trading experience for users.

"Teaming up with RaiseFX is an opportunity to empower a business that takes confident steps towards success. Our solution plays a crucial role in verifying and preventing fraud, ensuring the seamless execution of global solutions. We are committed to enhancing efficiency and compliance for RaiseFX's innovative platform." — said Domantas Ciulde, the CEO of iDenfy. 

As RaiseFX and iDenfy embark on this transformative journey together, both companies are committed to delivering innovative solutions that empower traders and contribute to the evolution of the online CFD trading sector. The partnership signifies a substantial step forward in shaping a more secure, efficient, and customer-centric trading experience.

Global payment orchestration platform FinMont has announced a new partnership with leading B2B payments platform ConnexPay. Through this new alliance, FinMont is adding ConnexPay’s innovative all-in-one payments solution to its travel orchestration platform.

Purpose-built for the travel industry, ConnexPay’s unified payments solution aligns incoming customer payments with outgoing supplier payments, all in real-time, with one contract and one reconciliation. With ConnexPay, clients get real-time access to incoming customer funds that they can use to pay suppliers, which drives significant cash flow for travel businesses. 

Suby Valluri, CEO of FinMont, commented, ‘We are delighted to announce our partnership with ConnexPay and incorporate their payment platform into our global ecosystem. This partnership will strengthen and expand the FinMont proposition for Travel Merchants, allowing our clients to issue virtual cards in real-time.”

Bob Kaufman, Founder and CEO at ConnexPay added, “ConnexPay is excited to partner with FinMont and incorporate our global payment offering into FinMont’s payment ecosystem for the travel industry. Our solution will allow FinMont's clients use one system to both accept and make payments, unifying the entire payments process with one contract and one reconciliation for ease and convenience.”

The founders of German airline, Hahn Air, launched FinMont to offer the travel industry a unique solution that, unlike other options available, streamlines not only B2C payments but also B2B payments. Combining both payments into a single view will help decision-makers identify and fix inefficiencies in their current payment processes. The firm’s mission is to help travel merchants use payments as a strategic tool to stand out from competitors.

The FinMont platform aims to revolutionize payments by seamlessly connecting multiple banks and providers through one simple gateway. The partnership with ConnexPay will allow the global payment platform to incorporate the market-leading and innovative solution into its eco-system allowing travel merchants to issue virtual cards in real-time to one or more suppliers using incoming funds from a customer.

IDEX Biometrics and KONA I are partnering to deploy biometric payment and access cards in Japan. With credit card fraud reported by Japanese companies increasing by 30% year over year to USD 294 million, banks in the market are showing interest in biometric smartcard solutions, especially metal cards. KONA I expects banks to begin offering high-technology biometric cards to consumers in the second half of 2024. 

In response to the growing demand for cybersecurity solutions by governments, and public and private sector entities KONA I and IDEX Biometrics will bring state-of-the-art secure ID and biometric payment card solutions to market.  KONA I and IDEX Biometrics smart card platform provides the cybersecurity market with an end-to-end authentication platform focused on digital security, and compatible with standard protocols such as FIDO2, as well as biometric payment cards. Both solutions are delivered with optimal customer experiences and security by design. 

KONA I is a global smart card and technology platform leader, headquartered in South Korea, manufacturing smart card products with an annual production capacity of more than 60 million cards. The fast-growing market in Japan is set to reach 30% of KONA I’s business by 2025.

Asia, including Japan, is leading the way for fingerprint biometric innovation in the payments industry, with a high penetration rate of contactless payments. Credit cards are the leading cashless payment method in Japan, and the market growing at a CAGR of 8%, is expected to reach $870 billion by 2028.

“The partnership with IDEX Biometrics enables us to react to the fast-growing demand for biometric smart cards in Japan,” said Koichiro Sasai, Head of KONA Japan LLC as a subsidiary of KONA I. “We are proud to offer bank customers in Japan the most innovative access and payment solutions. There is a very strong demand from affluent customer who seek the highest security and unparalleled value and user experiences, as offered by biometric metal cards.”

“We are excited to enter Japan with technology innovations that meets the needs for increased cyber security together with KONA I,” said Catharina Eklof, Chief Commercial Officer at IDEX Biometrics.

“Through this partnership with KONA I, we are bringing relevant solutions to the growing demand for frictionless payments and smart card solutions, enabling banks in Japan to differentiate and support loyalty and trust with their customers.”

finally, the fintech startup helping businesses automate their accounting and finance functions, announced it raised $10 million in new capital to continue hiring and expand its suite of solutions to SMBs. The round was led by PeakSpan Capital with participation from Active Capital.

finally incorporates essential business processes, such as bookkeeping, expense management, bill payment, and payroll, into one automated solution for SMBs. The raise comes after two years of significant momentum for finally; last year the company announced it’s building an AI ledger, offering business banking, and building a new version of its bookkeeping app. finally previously raised a $95 million Series A in 2022.

finally plans to scale its GTM motion further and grow its product offerings with the new capital, including plans to release mobile versions of its bookkeeping, expense management, and business banking apps. finally will also expand headcount on the bookkeeping and expense management sales teams to reach new customers and continue its high-growth journey to becoming the one-stop-shop for SMB finance.

Businesses across sectors rely on finally to give them better visibility and management over their finance and accounting activities. finally currently partners with some of the largest and most innovative companies in fintech, including Visa, Bancorp, and Threadbank.

“When vendor tools are scattered, business owners are too,” said Felix Rodriguez, founder and CEO of finally. “We’re energized by this injection of capital and know it will supercharge our efforts to give SMB owners the best tools to grow their businesses.”

“There aren’t many solution providers that also give you access to capital,” says Chris Marin, CEO of Convert.AI. “finally does both — free of interest rates while making the lives of customers easier. As a business owner, selecting finally is a no-brainer.”

“PeakSpan is thrilled to double down on Felix and the finally team,” said Jack Freeman, Partner at PeakSpan Capital. “In our two years since partnering, we’ve seen the business meaningfully scale revenue, recruit top talent, launch three new products, and build a repeatable sales engine. finally enters 2024 as a fully-fledged fintech with a portfolio of products supporting SMBs. We are psyched to see what the finally squad can do with more growth capital and resources this coming year.”

Pennylane raises €40M from Sequoia Capital and DST Global, reflecting very strong growth over the past two years. The company has multiplied by 40 the number of VSE-SMEs on its platform in 24 months thanks to the adoption of the tool by more than 2,000 accounting firms who have brought their clients on board.

Pennylane stands out for its business model: the fintech charges accounting firms for its accounting production tool, while generating additional revenue when firms equip their clients with the all-in-one management tool including an account. pro.

These funds raised will allow Pennylane to accelerate the development of its various modules, to invest massively in artificial intelligence for accountants and to adopt an external growth strategy with companies with complementary know-how. 

Becoming the driving force behind the evolution of accounting

Since its creation in 2020, Pennylane has established itself as a key player in the evolution of the sector, committed to promoting the role of accountants rather than advocating total automation of accounting. Convinced that business leaders are looking for sound advice and a trusted partner, Pennylane has quickly won the support of accounting professionals thanks to three major advantages:

• First of all, the considerable time savings it offers, from capturing flows and invoices to preparing financial statements, thus freeing accountants from time-consuming tasks.

• Then, the significant increase in visibility over its finances and the peace of mind resulting from the use of Pennylane by the firm's corporate clients.

• Finally, Pennylane allows the accountant to fully play his role as a trusted third party to managers.

Technology is a key factor in the recognition and growth of the chartered accountant profession.

Pennylane already allows accounting professionals to generate significant productivity gains,  but also to ensure the reliability of data collected in real-time. Accounting firms thus save on average 15% of the time per file thanks to automation, from data recovery to tax declarations including lettering automation.

The company now wants to go even further by bringing all the innovations enabled by AI to accounting professionals, to enable them to focus more on the analysis and restitution of high-value-added data. 

A chatbot specific to the accounting field will be set up, allowing rapid and efficient restitution of customer management data. At the same time, an opportunity center is envisaged to proactively detect the specific advice needs of each client, thus promoting more targeted and relevant accounting action. In addition, Pennylane wants to help employees accustomed to data entry move toward support and reporting missions, by “augmenting” them using artificial intelligence. 

“ This fundraising comes at a time when Pennylane is experiencing exceptional growth, multiplying the number of its customers 40-fold in two years. We were not looking for funding, but we wanted to seize the opportunity again to go even faster. It indeed appears essential that accountants be equipped with a complete tool in order to be armed against neobanks and online accounting solutions which claim to purely and simply replace an entire profession. One year after the last round of funding, this fundraising will allow us to further support accounting firms in their transition to automation and the adoption of new technologies. This includes reorienting their missions towards consulting, updating the skills of their employees, and attracting young talents. We also plan to expand the capabilities of our platform by adopting an external growth strategy over the next 5 years,” said Arthur Waller, CEO and co-founder of Pennylane.

Luciana Lixandru, Partner at Sequoia , said: " Pennylane solves an important problem for over 120,000 SMEs and over 2,000 accounting firms, by giving businesses their financial information in real time and their trusted third party, their accountants, a smarter, more productive way of working. We continue to be impressed by Pennylane's outstanding technical team, their drive to innovate and their constant focus on their customers. We look forward to "Many accounting firms and SMEs across Europe will benefit from this financial Operating System as Pennylane expands this year ."

“ Accountants play an important role in the economy, and a strong, effective relationship between businesses and their accountants is a key component of effective business management,” said Tom Stafford, co-founder and managing partner of DST Global . “The Pennylane platform is already making accountants and businesses more efficient – ​​and there is more to come as the product develops, including new artificial intelligence features. We are excited to continue our partnership with the Pennylane team”.

Flywire Corporation, a global payments enablement and software company, today announced that it has partnered with State Bank of India, India’s largest public sector bank, to enable Indian payers to seamlessly and digitally pay international education-related fees in their local currency (Indian Rupees) to higher education institutions all over the world. The integration provides students and families a streamlined and completely digital experience when making high-value education payments, and helps them comply with the Liberalized Remittance Scheme (LRS), which are guidelines to help streamline overseas transactions and investments for residents of India.

Flywire integrates directly into SBI’s banking platform, providing Indian students with a fully digital checkout experience for their transactions, ranging from application fees to tuition payments. The solution is available only to local currency account holders of SBI in India. Students can make the payment in three simple steps from within their SBI net banking platform, all in Indian rupees, and can track the payment through to when the funds are delivered to their university. Likewise, institutions accepting payments through Flywire benefit from receiving payments on time in the local currency, as well as full transparency into the transaction history, which eases their reconciliation processes and streamlines operational efficiencies.

Capitalizing on the rise of Indian outbound students

Indian students continue to be a key driver of international education and a boon for the global economy. According to the Open Doors® 2023 Report on International Educational Exchange, India sent a record number of students to the U.S. for the 2022-2023 academic year, representing an increase of 35% over the prior academic year. Another report from University Living forecasts that as many as two million Indian students will study abroad by 2025 and that direct global spending on study abroad by Indian students could reach US USD 70 billion by 2025. The report cites that Indian students are mostly concentrated in the destination countries of the United States, Canada, the United Kingdom and Australia.

Despite these mobility trends, Indian students have traditionally been faced with a lengthy, paper-based experience when it comes to making tuition payments, which can cause unnecessary delays in payment. As a result, Indian students are seeking a simpler, more flexible payment process for their international payments. According to a recent Flywire report, 94% of Indian students surveyed believe that simplified payment processes would improve their education experience.

Creating a fully digital payment experience for students in India

The partnership between Flywire and SBI provides an innovative approach to education payments and offers many benefits to students and institutions alike. First, the integration creates a seamless and digital payment experience for the more than 480 million Indian residents who are customers of SBI, transforming what was formerly a lengthy and complex process to one that is completely online. SBI customers can complete payments from local currency accounts to the thousands of Flywire education clients in a simple, three-step process.

The integration also streamlines the compliance process for the LRS, which are guidelines set by the Reserve Bank of India that enable residents of India to remit up to $250,000 USD overseas, per financial year. Flywire and SBI help Indian residents comply with the LRS requirements quickly from within the payer’s digital payment experience.

The integration also benefits institutions, as they can automatically capture all relevant student information, ensuring payments are accurate and identifiable. Flywire identifies the source of payments delivered to an institution’s bank account and automatically posts each payment to the applicable student record.

“We are thrilled to partner with SBI to combine their comprehensive banking network and Flywire’s payment technology with the goal of transforming how international payments are made,” said Mohit Kansal, SVP of Global Payments, Flywire. “This powerful integration enables students to transform what was typically a cumbersome, multi-day process into a streamlined and seamless digital experience. We take all the complexity away so all they need is a login and a computer or a mobile phone.”

SBI said: “We are pleased to partner with Flywire and offer this unique offering to Indian students and customers of SBI. By partnering with Flywire, we’re expanding the footprint of our payment solutions to benefit the next generation of students.”

MX Technologies, Inc. today announced MX's data enhancement services will be leveraged as part of Trustly's Open Banking product suite. Over 8,300 global merchants rely on Trustly to enable their consumers to pay directly from their bank accounts. With Pay with Bank, consumers enjoy an intuitive, fast, and safe payment method, while merchants can create better experiences and reduce costs with an efficient payment solution.

By leveraging MX Data Enhancement, as part of this solution, consumer-permission transaction data is cleansed and categorized to deliver clear information for merchants to better understand consumer needs and preferences to inform and provide more personalized marketing offers and loyalty programs.

"Data without context is meaningless for organizations and consumers," said Jim Magats, Chief Executive Officer at MX. "With our comprehensive suite of data enhancement services, MX turns raw, and often indecipherable, transaction data into simple, human-readable descriptions, making it easy to identify, organize, and act on financial data."

Consumers expect personalized experiences, streamlined processes, and customized offers to improve their financial lives in exchange for sharing their data. With MX's best-in-class data enhancement services, merchants using Trustly's industry-leading payment solutions can now be better equipped to deliver personalized experiences to consumers at scale.

"We are continually focused on how we can enhance value for our merchants and ultimately, their consumers. With MX, we found a partner that not only delivers world-class data enhancement solutions but shares our commitment to improve consumer experiences," shared Alexandre Gonthier, Chief Executive Officer at Trustly, Inc. "We're excited to work with MX to enhance our tools so our merchants can better understand and support their customers."

Entrust, a global leader in trusted payments, identities, and data security, today announced that it has entered into exclusive discussions to acquire London-based Onfido, a global leader in cloud-based, AI-powered identity verification (IDV) technology.

With this contemplated acquisition, Entrust would add a market-leading, compliant AI/ML-based biometric and document IDV tech stack to its portfolio of identity solutions. Additionally, Entrust would have the opportunity to advance the use of biometric-based, highly phishing-resistant authentication in high-value transactions and signing events. This potential acquisition would bring industry-leading technology together to provide enhanced identity-based solutions that enable more trusted and secure interactions at scale for people, enterprises, and institutions.

“We chose to enter into discussions to acquire Onfido because we believe they have the best-in-class IDV team, capabilities and tech stack in the world. With the emergence of AI-based attacks, the identity verification game has changed. Deepfakes and synthetic identity are driving a global need for a powerful level of identity assurance that facilitates crucial digital journeys in banking, finance, government, travel, and more. Step-up authentication using biometric-based, AI-driven identity verification will be critical to ensuring security, privacy, and trust in these high-value digital-first interactions,” said Todd Wilkinson, president and chief executive officer, Entrust.  “Onfido IDV solutions have proven their value in Europe’s high-compliance environment. With the proposed acquisition of Onfido, Entrust would have the opportunity to provide unmatched identity security solutions at a time when they are needed most among enterprises and institutions.”

Founded in 2012, Onfido makes it easy for people to access services through digital verification. The company has over $130 million in annually recurring revenue (ARR) and more than 500 employees. Onfido’s over 1,200 customers globally include some of the world’s leading financial institutions, e-commerce, gambling and gaming companies, and sharing economy platforms.

Any agreement remains subject to regulatory approval and other steps required in accordance with applicable laws.

“We’re excited to be entering into early and exclusive discussions with Entrust to potentially expand access to the most advanced and secure digital identity verification solutions worldwide,” said Mike Tuchen, Onfido’s chief executive officer. “Digital identities are enabling new levels of simplicity and access for people across the globe. The potential of Onfido’s powerful AI and machine learning-driven identity verification and Entrust’s proven identity security solutions would make a new world of digital trust possible.”

Onfido helps millions access services every week – from billion-dollar institutions to hyper-growth startups. The company has safely processed more than 200 million identity checks with 2,500+ document types and passports from 195 countries. The Onfido platform allows businesses to tailor verification methods to individual user and market needs in a no-code orchestration layer – combining a mix of document and biometric verifications, trusted data sources, and passive fraud signals to meet their risk, friction, and regulatory requirements. Onfido Atlas™ AI powers the platform’s fully automated, end-to-end identity verification.

Morgan Stanley & Co. LLC served as exclusive financial advisor and Wilson Sonsini Goodrich & Rosati served as legal counsel to Onfido. Moelis & Company LLC served as exclusive financial advisor and Latham and Watkins LLP served as legal counsel to Entrust.

TransferGo, the global fintech creating a fairer world for millions of hard-working migrants, today announced the addition of three high-calibre professionals to its executive team to spearhead rapid global expansion and consolidate its presence in existing markets. With their extensive experience and expertise, the new leaders are set to drive TransferGo's strategic ambitions across new frontiers.

“Our mission to make financial services fairer and more accessible for migrants guides every decision we make. The addition of Jonny, Sarah, and Simon to our leadership team marks a significant milestone in our journey as we continue to grow rapidly and scale the business in new markets in Asia, Africa and South America,” said Daumantas Dvilinskas, CEO and Co-Founder at TransferGo. “Their collective expertise and vision are perfectly aligned with our aspirations, enabling us to innovate and grow in ways that serve the needs of our customers. Together, we're not just expanding our reach; we're deepening our impact and building a world where financial inclusivity is the norm.”

Revitalising Global Marketing Strategy

Jonny Steel, appointed as Chief Marketing Officer, brings his experience in global marketing strategy and brand development to TransferGo. Having helped steer Payoneer from its startup phase to becoming a public company trusted by millions of businesses worldwide, Jonny is poised to lead TransferGo's global marketing through the next chapter of its journey. Based in Tel Aviv, Jonny is committed to building a brand that is loved by its customers and partners, and a go-to-market strategy fuelled by data-driven insights and creativity.

Empowering Talent and Culture

Sarah Fern has stepped into the role of Chief People Officer, bringing her deep expertise in leading global teams for international brands and high-growth companies. Sarah has been building and nurturing world-class teams for two decades, empowering people's strengths to drive companies’ missions. Based in London, Sarah is passionate about deploying the right strategy to create an inclusive environment where everyone can put their best foot forward to enable business goals whilst being supported by the company to do so. 

Setting an Exemplary Compliance Framework

Simon McFeely joins as Chief Compliance Officer, bringing over a decade of experience in cross-border payment services, coupled with a proven record as an AML Compliance and Risk Management expert. Simon's expertise also lies in scaling compliance operations and expanding into newly licenced jurisdictions. Based in Ireland, Simon aims to make a meaningful impact by working closely with law enforcement, consumer advocacy groups, and regulators around the world. At TransferGo, Simon will focus on ensuring that the compliance and risk management framework is built to scale, and is properly tuned to protect customer’s best interests.