Federal Department of Economic Affairs, Education and Research

Global Fintech Fest 2023 - AFAQ and BUNA Systems Have Improved Payments in GCC: Khaled Al Basias of Saudi Central Bank

Retrieved on: 
Friday, September 8, 2023

MUMBAI, India, Sept. 8, 2023 /PRNewswire/ -- Speaking at Global Fintech Fest 2023, H.E.

Key Points: 
  • MUMBAI, India, Sept. 8, 2023 /PRNewswire/ -- Speaking at Global Fintech Fest 2023, H.E.
  • Khaled Al Basias, Director Financial Sector Development, Saudi Central Bank highlighted that the AFAQ and BUNA systems have helped improve payments in the GCC region.
  • AFAQ system was created in 2020 to link all the GCC countries' RTGS payments and central banks for foreign exchange transactions.
  • Highlights of Global Fintech Fest 2023:
    3 days | 13 tracks | 800+ Speakers | 15+ Thought Leadership Reports | 81 Academic Papers | 50+ Workshops | 125+ Countries | 250+ Sessions | 250+ Investors | 500+ exhibitors | 150K Sq.

Global Fintech Fest 2023: Standardisation Across Regulators Key for Interoperability Success: Adeeb Ahamed, MD, Lulu Financial Holdings

Retrieved on: 
Thursday, September 7, 2023

The session was hosted by Maria Francis, Incharges for Americas, NPCI International Payments Limited.

Key Points: 
  • The session was hosted by Maria Francis, Incharges for Americas, NPCI International Payments Limited.
  • Honor Gunday said, "For a foreign merchant wanting to process payments from India, it is difficult to take money out.
  • Besides, when consumers want to buy something from outside, their credit cards get blocked and mostly not open for foreign transactions.
  • Speaking on the complexity of interoperability, Tom Greenwood said, "UPI is the shining beacon example of successful implementation of RTP globally.

Global Fintech Fest 2023: Standardisation Across Regulators Key for Interoperability Success: Adeeb Ahamed, MD, Lulu Financial Holdings

Retrieved on: 
Thursday, September 7, 2023

The session was hosted by Maria Francis, Incharges for Americas, NPCI International Payments Limited.

Key Points: 
  • The session was hosted by Maria Francis, Incharges for Americas, NPCI International Payments Limited.
  • Honor Gunday said, "For a foreign merchant wanting to process payments from India, it is difficult to take money out.
  • Besides, when consumers want to buy something from outside, their credit cards get blocked and mostly not open for foreign transactions.
  • Speaking on the complexity of interoperability, Tom Greenwood said, "UPI is the shining beacon example of successful implementation of RTP globally.

Global Fintech Fest 2023: Talent Biggest Challenge for Dubai Fintechs: Mohammad Alblooshi, CEO, DIFC Innovation Hub

Retrieved on: 
Thursday, September 7, 2023

Talent is now the biggest challenge for fintechs in Dubai," said Mohammad Alblooshi, CEO, DIFC Innovation Hub.

Key Points: 
  • Talent is now the biggest challenge for fintechs in Dubai," said Mohammad Alblooshi, CEO, DIFC Innovation Hub.
  • This has led to Dubai being an importer of talent rather than producing its own.
  • He was speaking at a panel discussion on 'Roadmap to establish a thriving FinTech hub: Navigating challenges and driving FS innovation' at the Global Fintech Fest 2023 (GFF 2023).
  • He was joined by Takeshi Kito, Vice-Chair, Fintech Association of Japan, Nezar Alhaidar, Director, Fintech Saudi and Rehan D'Almeida, General Manager, Fintech Australia.

Governments of Canada and Switzerland sign joint statement on science, technology and innovation

Retrieved on: 
Friday, April 14, 2023

Minister Champagne and Federal Councillor Parmelin signed a joint statement enhancing the already strong and diversified relationship between Canada and Switzerland in various research areas.

Key Points: 
  • Minister Champagne and Federal Councillor Parmelin signed a joint statement enhancing the already strong and diversified relationship between Canada and Switzerland in various research areas.
  • "Canada and Switzerland will continue to foster greater collaboration in science and research.
  • – The Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development
    Today's joint statement updates and expands the joint statement on science, technology and innovation that Canada and Switzerland signed in 2018.
  • Canada and Switzerland have a strong and diverse commercial relationship that covers the full spectrum of trade, investment and innovation.

‘We Need New Form of Money’ Sopnendu Mohanty, Monetary Authority of Singapore at Global Fintech Fest 2022

Retrieved on: 
Friday, September 23, 2022

Speaking at Global Fintech Fest (GFF) 2022, at a fireside chat with Smita Aggarwal, Global Investments Advisor of Flourish Ventures, Mr. Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore, said, In the new architecture of Web 3.0, asset transfers are not only done traditionally, therefore we need a new form of money that transacts on a distributed ledger.

Key Points: 
  • Speaking at Global Fintech Fest (GFF) 2022, at a fireside chat with Smita Aggarwal, Global Investments Advisor of Flourish Ventures, Mr. Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore, said, In the new architecture of Web 3.0, asset transfers are not only done traditionally, therefore we need a new form of money that transacts on a distributed ledger.
  • It was held between September 20 and 22, 2022 at the Jio World Convention Centre in Mumbai.
  • We have successfully connected the UPI equivalent network of Singapore known as PayNow, with Thailands PromPay, to facilitate seamless cross-border transfers.
  • The retail CBDC can be extremely efficient and cost-effective and can even avert the need of a UPI rail for money transfers.

'We Need New Form of Money:' Sopnendu Mohanty, Monetary Authority of Singapore

Retrieved on: 
Thursday, September 22, 2022

He was at a fireside chat with Smita Aggarwal, Global Investments Advisor of Flourish Ventures.

Key Points: 
  • He was at a fireside chat with Smita Aggarwal, Global Investments Advisor of Flourish Ventures.
  • "Under the new architecture, tokenisation will enable both asset ownership and transfer of value to happen in real-time," Mr. Mohanty added.
  • "We have successfully connected the UPI equivalent network of Singapore known as PayNow, with Thailand's PromPay, to facilitate seamless cross-border transfers.
  • The retail CBDC can be extremely efficient and cost-effective and can even avert the need of a UPI rail for money transfers.

Exiger Selected as Government-Wide Enterprise Supply Chain and Third-Party Risk Management Platform

Retrieved on: 
Thursday, August 4, 2022

WASHINGTON and NEW YORK, Aug. 4, 2022 /PRNewswire/ -- Exiger, a leading global risk and compliance SaaS company, announced today that they have been awarded a "first of its kind" contract by the U.S. General Services Administration (GSA) as a trusted partner to deliver a supply chain risk management (SCRM) and third-party risk management (TPRM) enhanced capability made available to the entire U.S. Federal Government. The multi-year, $74.5 million, contract award builds on Exiger's SCRM work with the Department of Defense (DoD) that has been tested and proven across multiple scenarios. GSA will now expand access to Exiger's SCRM solutions and allow all government agencies to share risk insights and consistently manage supplier risk and health across the U.S. Federal Government enterprise. This enterprise solution enables significant efficiencies including volume discounts, cross-enterprise data sharing, improved collaboration, and development of supply chain risk mitigation strategies. 

Key Points: 
  • This enterprise solution enables significant efficiencies including volume discounts, cross-enterprise data sharing, improved collaboration, and development of supply chain risk mitigation strategies.
  • Exiger also provides Government Acquisition Program Managers the ability to perform proactive supply chain risk management down to the items, parts, and raw materials level.
  • "From our inception, Exiger has used our expertise to create technology that solves the most challenging third-party, vendor vetting and supply chain risk management problems by delivering insight, not just data," said Brandon Daniels , CEO of Exiger.
  • Exiger's Supply Chain Risk Management software and services are now available to all Federal Agencies through GSA Contract #: GS-35F-0292U / Order #: 47QFHA22F0027.