Tag: Fintech

On the Rise: Thunes

One central ecosystem with complete interconnection and operational convenience between banks, digital wallets, and any payment system in existence – this is the ambitious vision of Thunes, a company managing the world’s largest cross-border B2B payment network. 

“All the different payment companies in different local markets are not connected to each other,” explained Peter De Caluwe, Executive Chairman and CEO of Thunes. “If you take an example of an African bank who wants to transfer money to a Chinese bank, there are usually correspondent banks in between, if they have it. So…the money moves around three, four, or five parties before it’s arrived. So it’s time-consuming, it’s expensive, and the more touchpoints it has, everybody takes a cut.”

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Napkin Takeaways: Hendra Kwik of Payfazz

In this series of quick takes, we crystallize the highlights of founder interviews into bite-sized digests for your reading pleasure. If you have a quick minute between meetings, or feel like some light reading, we have your back.

In this piece, we sum up three key takeaways from Hendra Kwik, co-founder and CEO of Payfazz. The startup is a fintech platform that aims to build a network of distributed banking agents to enable a fully-digital mobile banking & payment solution for 440 million unbanked in Southeast Asia. Aside from its agent network, Payfazz has also launched a portfolio of mobile services that facilitate routine financial tasks for Indonesians without formal banking accounts, including bill payments and loans.

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This is How Asia’s Fintech Revolution Helps Small Businesses

If you have a mobile phone with a stable internet connection, you would have most likely purchased a product or service online. On top of that, you probably expected seamless mobile payment to be part of the purchasing experience.

This is fast becoming the new normal for many consumers in Asia, particularly in China, India and key financial hubs, with FinTech service adoption rates surging to 63% last year. Several factors have contributed to its success in the region, such as the presence of a relatively young and digitally-savvy population, and large pockets of financially underpenetrated markets.

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