Connect with us

Fintech

Flyfish, a fintech company, now the leading marketplace for financial services

FinCrypto Staff

Published

on

According to Flyfish founder Michael Zetser, the fintech world it needs a radical revolution, firstly to ensure that the hundreds of millions of people left out of financial services can access them and to save businesses from having to use different providers for each of the services they need.

Flyfish offers a unique marketplace concept to make most if not all financial services more accessible and convenient for everyone. In other words, you don’t need to look for a financial service provider, but open a Flyfish account and Flyfish will seamlessly provide you with the solution.

Flyfish, through its platform, has partnered with various financial institutions and other financial service providers around the world, allowing Flyfish to offer tailored solutions based on each customer’s needs.

“For every financial need we find a solution”

Founded early last year, Flyfish aims to become the world’s largest marketplace for financial services, the intersection where all fintech technologies meet.

“Using the BaaS model we connect multiple services to a single platform,” Zetser said, referring to the “Banking as a Service” protocol. This unique platform brings together all services to work in harmony.” From left: Ilanit Madmoni, head of the innovation unit at the Bank of Israel; Rahav Shalom-Revivo, head of FinTech and Cyber ​​Innovations at the Ministry of Finance; Meital Raviv, Head of Fintech & Innovation at KPMG Israel; and Justine Zwerling, Head of Israeli Primary Markets at the London Stock Exchange Group (credit: DIANA RUBINSTEIN).

By acting as a bridge connecting numerous fintech providers, Flyfish is able to consolidate all of its financial services into a single accessible product, meeting the diverse needs of essentially any customer.

When a new customer opens their Flyfish account, Flyfish seamlessly connects them to all the necessary services with a single onboarding.

Flyfish currently works with around a dozen international providers, offering a wide range of services, including debit cards, IBAN accounts, cryptocurrency exchange, payroll and different payment methods.

As a one-stop shop for financial services, Flyfish aims to help both individual and corporate customers. Announcement

As for individual customers, the startup is committed to offering solutions even to those who are excluded from traditional banking services.

“When we talk about under-banking, we might immediately think of developing countries such as some African nations, but people are usually very surprised to learn that even in the UK, around 14% of the adult population does not have access to an bank account and rely solely on cash transactions.”

“Sometimes these people don’t have a traditional education; sometimes they’re a little outside the box, and at the beginning of their life they didn’t need a bank account, and today traditional banks don’t accept them. This lack of access to banking services is a major challenge in both developing countries and the developed world.”

According to Zetser, the way Flyfish is built allows it to work with the full spectrum of customers because it can match each of them to the right financial institutions.

“For every financial need we find a solution,” he said.

This also includes the needs of corporate customers.

“Let’s think about a company with operations in Israel, Germany and Cyprus,” he said. This company will have to pay salaries in three different countries. It will also have to file and pay taxes and other payments to local authorities, and then likely open and manage local bank accounts in each country, possibly requiring a debit card in each. The company will need to go through the onboarding process with each institution it wishes to partner with and will need to manage and access each account separately. This is inefficient, time-consuming, and makes it more difficult than necessary to keep track of the finances in each account.”

With Flyfish everything becomes simpler.

“The company can enjoy the same services with an individual Flyfish account; we take care of connecting to each financial service required,” Zetser said.

At the moment, Flyfish is focusing on the European market.

“We are working with the European Electronic Money Institutions (EMIs) and are already in the process of signing partnerships with several international suppliers which will soon allow us to extend our reach to Australia, the United States and Asia,” notes Zetser. “We are also starting to accept clients outside of European jurisdiction.”

One of Flyfish’s current clients is an established e-commerce company with offices in several countries across Europe and beyond.

“Before working with Flyfish, they had to manage accounts in at least four different banks, with all the resources that entails,” Zetser explained. “Now they enjoy a single point of access to all of them, receive consolidated reports and can manage bank accounts simultaneously from a single dashboard.”

Another benefit of bringing a multitude of services onto a unified platform is that customers often realize there are additional financial products they could benefit from.

“For example, this e-commerce company decided to offer debit cards to many of its employees,” Zetser said. “They weren’t even aware of the need beforehand. When a company approaches Flyfish, we study their financial needs and find the right solutions for them.”

Flyfish has been instrumental in transforming the financial services experience for its corporate and individual customers.

“There is a story of a person in the UK who had never had a bank account and for whom the ability to start making and receiving electronic bank payments was life-changing,” Zetser shared.

“There are approximately 1.4 billion people in the world who do not have access to banking services,” he added. “We view access to banking as a fundamental human right, and one of our company’s goals is to realize this vision.”

Zetser says that looking to the future, Flyfish aims to revolutionize fintech.

“In our vision, individuals or businesses will not need to turn to specific financial services providers, but rather will rely on platforms like Flyfish to provide all the pieces they need to complete their financial puzzle,” he concluded.

This article was written in collaboration with Flyfish.







Source

We are the editorial team of FinCrypto, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on FinCrypto, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Información básica sobre protección de datos Ver más

  • Responsable: Miguel Mamador.
  • Finalidad:  Moderar los comentarios.
  • LegitimaciĂłn:  Por consentimiento del interesado.
  • Destinatarios y encargados de tratamiento:  No se ceden o comunican datos a terceros para prestar este servicio. El Titular ha contratado los servicios de alojamiento web a Banahosting que actĂşa como encargado de tratamiento.
  • Derechos: Acceder, rectificar y suprimir los datos.
  • InformaciĂłn Adicional: Puede consultar la informaciĂłn detallada en la PolĂ­tica de Privacidad.

Fintech

Lloyds and Nationwide invest in Scottish fintech AI Aveni

FinCrypto Staff

Published

on

Lloyds and Nationwide invest in Scottish AI fintech Aveni

Lloyds Banking Group and Nationwide have joined an ÂŁ11m Series A funding round in Scottish artificial intelligence fintech Aveni.

The investment is led by Puma Private Equity with additional participation from Par Equity.

Aveni creates AI products specifically designed to streamline workflows in the financial services industry by analyzing documents and meetings across a range of operational functions, with a focus on financial advisory services and consumer compliance.

The cash injection will help fund the development of a new product, FinLLM, a large-scale language model created specifically for the financial sector in partnership with Lloyds and Nationwide.

Joseph Twigg, CEO of Aveni, explains: “The financial services industry doesn’t need AI models that can quote Shakespeare, it needs AI models that offer transparency, trust and, most importantly, fairness. The way to achieve this is to develop small, highly tuned language models, trained on financial services data, vetted by financial services experts for specific financial services use cases.

“FinLLM’s goal is to set a new standard for the controlled, responsible and ethical adoption of generative AI, outperforming all other generic models in our selected financial services use cases.”

Robin Scher, head of fintech investment at Lloyds Banking Group, says the development programme offers a “massive opportunity” for the financial services industry by streamlining operations and improving customer experience.

“We look forward to supporting Aveni’s growth as we invest in their vision of developing FinLLM together with partners. Our collaboration aims to establish Aveni as a forerunner in AI adoption in the industry, while maintaining a focus on responsible use and customer centricity,” he said.

Source

Continue Reading

Fintech

Fairexpay: Risk consultancy White Matter Advisory acquires 90% stake in fintech Fairexpay

FinCrypto Staff

Published

on

Whatsapp banner

Treasury Risk Consulting Firm White Matter Alert On Monday he announced the acquisition of a 90% stake in the fintech startup Fair payment for an undisclosed amount. The acquisition will help White Matter Advisory expand its portfolio in the area of cross-border remittance and fundraising services, a statement said. White Matter Advisory, which operates under the name SaveDesk (White Matter Advisory India Pvt Ltd), is engaged in the treasury risk advisory business. It oversees funds under management (FUM) totaling $8 billion, offering advisory services to a wide range of clients.

Improve your technology skills with high-value skills courses

College OfferCourseWebsite
IIT Delhi Data Science and Machine Learning Certificate Program Visit
Indian School of Economics ISB Product Management Visit
MIT xPRO MIT Technology Leadership and Innovation Visit

White Matter Advisory, based in Bangalore, helps companies navigate the complexities of treasury and risk management.

Fairexpay, authorised by the Reserve Bank of India (RBI) under Cohort 2 of the Liberalised Remittance Scheme (LRS) Regulatory Sandbox, boasts features such as best-in-class exchange rates, 24-hour processing times and full security compliance.

“With this acquisition, White Matter Advisory will leverage Fairexpay’s advanced technology platform and regulatory approvals to enhance its services to its clients,” the release reads.

The integration of Fairexpay’s capabilities should provide White Matter Advisory with a competitive advantage in the cross-border remittance and fundraising market, he added.

The release also states that by integrating Fairexpay’s advanced technology, White Matter Advisory aims to offer seamless and convenient cross-border payment solutions, providing customers with secure options for international money transfers.

Source

Continue Reading

Fintech

Rakuten Delays FinTech Business Reorganization to 2025

FinCrypto Staff

Published

on

tipranks

Rakuten (Japan:4755) has released an update.

Rakuten Group, Inc. and Rakuten Bank, Ltd. announced a delay in the reorganization of Rakuten’s FinTech Business, moving the target date from October 2024 to January 2025. The delay is to allow for a more comprehensive review, taking into account regulatory, shareholder interests and the group’s optimal structure for growth. There are no anticipated changes to Rakuten Bank’s reorganization objectives, structure or listing status outside of the revised timeline.

For more insights on JP:4755 stock, check out TipRanks Stock Analysis Page.

Source

Continue Reading

Fintech

White Matter Advisory Acquires 90% Stake in Fintech Startup Fairexpay

FinCrypto Staff

Published

on

White Matter Advisory Acquires 90% Stake in Fintech Startup Fairexpay

You are reading Entrepreneur India, an international franchise of Entrepreneur Media.

White Matter Advisory, which operates under the name SaveDesk in India, has announced that it is acquiring a 90% stake in fintech startup Fairexpay for an undisclosed amount.

This strategic move aims to strengthen White Matter Advisory’s portfolio in cross-border remittance and fundraising services.

By integrating Fairexpay’s advanced technology, White Matter Advisory aims to offer seamless and convenient cross-border payment solutions, providing customers with secure options for international money transfers.

White Matter Advisory, known for its treasury risk advisory services, manages funds under management (FUM) totaling USD 8 billion.

Founded by Bhaskar Saravana, Saurabh Jain, Kranthi Reddy and Piuesh Daga, White Matter Advisory helps companies effectively manage the complexities of treasury and risk management.

The SaveDesk platform offering includes a SaaS-based FX market data platform with real-time feeds for over 100 currencies, bank cost optimization services, customized treasury risk management solutions, and compliance guidance for the Foreign Exchange Management Act (FEMA) and other trade regulations.

Fairexpay is a global aggregation platform offering competitive currency exchange rates from numerous exchange partners worldwide. Catering to both private and corporate customers, Fairexpay provides seamless money transfer solutions for education, travel and immigration, as well as simplifying cross-border payments via API and white-label solutions for businesses. Key features include competitive currency exchange rates, 24-hour processing times, extensive currency coverage of over 30 currencies in more than 200 countries, and secure, RBI-compliant transactions.

Source

Continue Reading

Trending

Copyright © 2024 FINCRYPTO.TECH. All rights reserved. This website provides educational content and highlights that investing involves risks. It is essential to conduct thorough research before investing and to be prepared to assume potential losses. Be sure to fully understand the risks involved before making investment decisions. Important: We do not provide financial or investment advice. All content is presented for educational purposes only.