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Southeast Asian Blockchain Startup Lightnet Partners MoneyGram to Provide Comprehensive Money Transfer Services

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Blockchain startup Lightnet has teamed up with MoneyGram, a leading provider of cross-border peer to peer payments and money transfer services.

MoneyGram will be integrating Lightnet’s technology with its fund transfer services so that customers can access a wide range of payout services across the Southeast Asia region.

This collaboration is focused around Bridgenet, which is Lightnet’s first-layer solution that connects Money Transfer Operators (MTOs) to MoneyGram’s fund transfer services.

Lightnet’s management noted that the solution aims to support true interoperability between the current banking channels and various non-bank agent networks, while also bridging the gap between different entities so that firms can provide excellent services to end-users.

Chatchaval Jiaravanon, Chairman at Lightnet, stated:

“This successful integration is a reflection of Lightnet’s mission to promote financial mobility and inclusivity for the unbanked and underbanked populations of Asia. As we continue to empower institutions such as MoneyGram, we strive toward our vision of connecting all cash-in and cash-out points under one network, thereby enabling our partners to enjoy better margins and reduced costs.”

Grant Lines, Chief Revenue Officer at MoneyGram, remarked:

“We are proud to work with Lightnet to increase financial inclusion and provide our customers with the best options for money transfer in ASEAN. We love to collaborate with companies whose visions align with ours, and we look forward to a continued successful collaboration with Lightnet,”

As mentioned on its official website, Lightnet is a Fintech firm that’s based in Singapore. The company was launched to support financial mobility and inclusivity for the unbanked and underbanked population in Asia.

Lightnet leverages blockchain technology to support financial network channels which are connected to non-bank agents and fiat-transaction networks so that digital transactions can be carried out and conventional banking can be offered as well. Lightnet is focused on enhancing the efficiency, convenience and affordability of remittance payments while ensuring these services are accessible to everyone.

Lightnet aims to improve the global remittance market, beginning with helping the millions of unbanked migrant workers who may be using outdated, costly and “fragmented” financial services in Southeast Asia.

These financial services, valued at approximately $150 billion, may be improved with Lightnet’s smart contracts and distributed ledger tech (DLT) which will allow users to carry out seamless transactions.

The Lightnet platform could replace the traditional SWIFT system by significantly reducing the transaction time and lowering international transfer fees, the company claims.

Source: https://www.crowdfundinsider.com/2021/02/172320-southeast-asian-blockchain-startup-lightnet-partners-moneygram-to-provide-comprehensive-money-transfer-services/

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UK based P2P Lender Folk2Folk Says it’s Still Open to Retail Investors, with £400M+ Invested via Platform and Zero Losses

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UK-based Folk2Folk, a P2P lender supporting local and rural businesses, notes that “shifting sands” within the peer to peer sector have left some retail investors “high and dry.” Folk2Folk reveals that some retail investors have been “abandoned” in favor of institutional investors. There have also… Read More

The post UK based P2P Lender Folk2Folk Says it’s Still Open to Retail Investors, with £400M+ Invested via Platform and Zero Losses appeared first on Crowdfund Insider.

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Source: https://www.crowdfundinsider.com/2021/03/172779-uk-based-p2p-lender-folk2folk-says-its-still-open-to-retail-investors-with-400m-invested-via-platform-and-zero-losses/

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All Non-Essential UK Retail Businesses May Reopen from April 12, 2021, Funding Circle Confirms while Sharing Other Small Business Tips

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Online lender Funding Circle (LSE:FCH) recently commented on what the roadmap out of the COVID-19 lockdown means for small businesses. On February 22, 2021, the UK government announced its “highly anticipated” four-phase roadmap out of the Coronavirus-related lockdown — and contained within it were several… Read More

The post All Non-Essential UK Retail Businesses May Reopen from April 12, 2021, Funding Circle Confirms while Sharing Other Small Business Tips appeared first on Crowdfund Insider.

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Source: https://www.crowdfundinsider.com/2021/03/172783-all-non-essential-uk-retail-businesses-may-reopen-from-april-12-2021-funding-circle-confirms-while-sharing-other-small-business-tips/

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Australia Is Home to At Least 733 Active Fintech Firms, Up from 629 in September 2019: Report

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Australia is currently home to at least 733 active Fintech firms, up considerably from 629 back in September 2019, according to the KPMG Fintech Landscape 2020 map. This represents an increase of 104 firms that joined the nation’s financial technology industry between September 2019 and… Read More

The post Australia Is Home to At Least 733 Active Fintech Firms, Up from 629 in September 2019: Report appeared first on Crowdfund Insider.

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Source: https://www.crowdfundinsider.com/2021/03/172737-australia-is-home-to-at-least-733-active-fintech-firms-up-from-629-in-september-2019-report/

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Open Banking related Services are Now Key Focus Area for Professional Bankers Globally: Report

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Banking software firm Temenos (SIX: TEMN) has released a report, titled “Open Banking: Revolution or Evolution?”, which was authored by the Economist Intelligence Unit (EIU) and it’s also based on a survey of more than 300 senior banking professionals. The report revealed that almost half… Read More

The post Open Banking related Services are Now Key Focus Area for Professional Bankers Globally: Report appeared first on Crowdfund Insider.

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Source: https://www.crowdfundinsider.com/2021/03/172741-open-banking-related-services-are-now-key-focus-area-for-professional-bankers-globally-report/

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