WorldRemit Make Move Into Lucrative Far East Remittance Market After Joining Malaysia Bank Negara’s Exclusive Sandbox Programme

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We may have returned from Malaysia nearly two weeks ago now, but relations between the Far Eastern Fintech hub of Kuala Lumpur and London are clearly getting even stronger!

World Remit, the London-based money transfer company that says it is handling more than 700,000 transfers to 140 receiving destinations every month, has announced that it is launching in Malaysia. Read more

Fintech In Asia – 2 New “Regulatory Sandboxes” Announced in Hong Kong, Whilst A Third Gets An Upgrade. Good News For Customers Worldwide?

This content is brought to you by The Money Cloud – comparing the best rates for sending money overseas offered by hand-picked, regulated brokers and money transfer agencies

As anybody who regularly reads our blog posts and breaking news updates will probably know, we have recently been travelling in Asia, visiting Malaysia, Singapore, and Thailand, and exploring the countries’ fintech and international money transfer ecosystems.

Fintech in Asia is booming; along with London, New York, and parts of Africa, places like Singapore, and, not to be underestimated, Bangkok and Kuala Lumpur are forging ahead with truly disruptive services and products that will change the face of banking forever.

But in this post we are going to look at some news from Hong Kong, courtesy of Open Gov Asia; last week, not one, not two, but three financial regulators announced plans to introduce “sandboxes” to aid the development of disruptive startup fintech firms. Read more

In London, Even IMF Chief Christine Lagarde Is Suggesting Digital Currencies Could Be The Future!

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When it comes to debating digital currencies, increasingly it seems to be the case that we must ask “whose side are you on?”

Are you a sceptic, like JPMorgan Chase CEO Jamie Dimon, or billionaire hedge fund veteran Ray Dalio, or Nobel prize winning economist Robert Shiller, all of whom have bashed bitcoin recently, calling it a “a fraud”, and “a bubble”?

Or are you a “believer”, like Fidelity CEO Abigail Johnson, or even International Monetary Fund chief and economist Christine Lagarde? Read more

Safaricom Mobile Money Vehicle M-Pesa Rolls Out “1-Tap” Mobile Payments System After 90,000 Sign Up During Trial Period

This content is brought to you by The Money Cloud – comparing the best rates for sending money overseas offered by hand-picked, regulated brokers and money transfer agencies

Near Field Communications (NFC) technology is the driving force behind M-Pesa 1Tap, which is making it possible for Safaricom’s customers in Kenya to pay for goods and services with their mobiles in a single step. Read more

Thailand’s TrueMoney Continues South East Asian Fintech Firms Push Towards The Unbanked With Move Into Myanmar

TrueMoney, the Thai Fintech company, is to enter the market for mobile money in Myanmar, adding the country to an impressive cross-border network that includes Thailand, Cambodia, Vietnam, the Philippines, Indonesia and Malaysia.

TrueMoney allows its users to deposit cash in mobile accounts or at point of sale outlets and transfer cash via a network of agents either domestically or overseas. Read more

“Top 10” Remittance Receiver & Sender UK Targeted By Hong-Kong Based TNG After Record Raise As Governments Sign Agreement

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As expected, and following a raise of a record $115 million dollars completed in Hong Kong where the business is headquartered, fintech startup TNG is extending its strategic global money transfer partnership with Tranglo Europe Ltd, the cross-border gateway specialists, into the UK.

At the same time TNG will invest $20 million US dollars in the launch of an accompanying e-wallet service. Read more

The Money Cloud Awarded Best International Money Transfer Comparison Platform 2017 by Wealth & Finance Magazine

London, August 22nd

The Money Cloud, the disruptive fintech search, compare and discover platform for anybody looking to find the best deals and brokers when sending money overseas, has been awarded Best International Money Transfer Comparison Platform 2017 by Wealth & Finance Magazine as part of the Magazine’s Fintech Awards. Read more

PSD2 Coming, But British Open Banking Regulation Already Ahead of the Game (So Long As It Stays Compliant) Says Payments Expert

This content belongs to The Money Cloud – comparing the best rates for sending money overseas offered by hand-picked, regulated brokers and money transfer agencies

As always, this month’s European Payments Council (EPC) newsletter contains some essential reading.

As anybody who works within the payments or indeed the wider fintech industry surely knows, PSD2, the much-anticipated update to the first set of Payments Services Directives, is nearly here. Read more

The Money Cloud To Provide FX Comparison To 140 Countries Worldwide In Partnership With Mobile & Cross Border Payments Firm First Global Data

press release first published May 9th 2017.

The Money Cloud, a trusted leading provider of overseas money transfer comparison services founded by Emmanuel Addy and Huw Jenkins in 2014, announce today that they have agreed to partner with First Global Data Corp. (FGD) to provide their FX comparison engine and overseas money purchasing services to FDG’s Global Wallets across 140 countries around the world. Read more

The Money Cloud Joins The French Chamber of Great Britain – A Good Time To Reflect On How Far We & The Industry Have Come

We’re delighted to have become members of the French Chamber of Great Britain. As a fintech startup that specialises in providing the best overseas money transfer price comparison, we look forward to exploring synergies with businesses in both Britain and France, building long lasting relationships, and taking advantage of the excellent events and resources on offer. 

We cater for all types of money transfer, but what may be of particular interest to our fellow members of the French Chamber of Great Britain is our ability to offer best in class money transfer solutions to businesses and high net worth clients looking to make international transfers of a significant size. Read more

Google Launches Tez: A New Digital Payments App For India With A Host Of New Technologies

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Google says it is trying to help India to become a cashless society, by mimicking the ubiquity of notes and coins in the country through a new all singing, all dancing app called Tez. Tez is a Hindi word, meaning “fast”.

The company hopes that, by providing multiple use-cases through its new service, customers will seamlessly adopt it without missing the versatility of hard currencies. Read more

Ooredoo Launches Mobile Money Service In Qatar, Partners With Aldar Exchange For International Money Transfers

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Ooredoo is majority owned by the state of Qatar and one of the largest mobile telecommunications providers in the world with more than 100 million customers worldwide.

The company announced its partnership with Aldar Exchange last Tuesday. It will enable Ooredoo Mobile Money customers to send money directly to international bank accounts, leveraging Aldar’s remittance channels. Read more

National Bank Of Pakistan Launches Awareness Campaign To Promote Modern Remittance Services Over Insecure Hundi / Hawala Transfers System

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The Deputy Governor of The National Bank of Pakistan, Jamil Ahmed has pleaded with banks to reduce charges related to remittance payments and overseas money transfers, to encourage more Pakistanis to use their services. Read more

Reserve Bank of India Approves Singapore Fintech Startup Instarem For Outward Remittance Services

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Instarem, the Singapore based fintech startup that specialises in fast, convenient and cost-effective cross-border money transfer has won approval from the Reserve Bank of India to start facilitating overseas remittance from India.

The company say that they will start processing payments as early as November 2017, in partnership with a leading Category I Authorised Dealer (AD-I) as per RBI’s governing conditions. Read more

TNG Raises Hong Kong’s Largest Ever Fintech Funding Round To Develop Blockchain e-Wallet & Overseas Money Transfer Services

Hong Kong’s fintech community are celebrating the biggest Series A funding round in the city-state’s history, and one of the largest to have been completed anywhere in the world.

TNG Fintech Group raised a “record breaking” $115 million-dollar round which values the company at $565 million. The company, which specialises in disruptive technologies such as AI, blockchain, and cashless payments and money transfers, was founded in 2013 and employs around 300 people according to a company spokesperson. Read more

The Money Cloud Partners With City Forex To Provide The Ultimate Hassle Free Travel Money Ordering Service

The Money Cloud, the original and best overseas money transfer comparison site founded by industry pioneers Emmanuel Addy and Huw Jenkins, today announces an exclusive partnership with City Forex to help travellers order their travel money online, and have it delivered direct to their office or home. Read more

International Payments Firm Smart Transfer Claim World First; Customers Can Swap Currencies, For Free, Over Social Media

A Hong Kong based borderless money transfer firm, Smart Transfer, officially launched its P2P mobile payment platform last week, allowing senders to transfer funds using just a recipients’ phone number, email address, or social media account.

The Company claim the service is unique and could even be a world first. “There is a modern global push towards a digital and cashless society, and we want to fully leverage all digital avenues, such as social media and e-mail addresses, to revolutionise local and cross-border payments,” says Francis Lu, the co-founder and CEO of Smart Transfer, who are based out of Hong Kong. Read more

Is Santander’s 100% Digital Openbank A Template For The Bank Of The Future?

Santander launched its latest product, the “100% digital” OpenBank last week amidst much fanfare and some bold new features and promises. Currently it is only available in Spain, but is expected to be rolled out internationally soon.

So, after 15 months in the making, and having been re-built from scratch, can this re-launched product of Santander’s be seen as a blueprint for the way the bank accounts of the future will operate? Read more