Sam Boboev

Lithuanian fintech kevin. blocked from serving new clients by national bank ithuania’s national bank has instructed Accel-backed payments fintech kevin to not provide payment services to new clients until it complies with reporting requirements. In a statement released on Thursday, the Bank of Lithuania said it reached the decision after the Lithuanian startup failed to submit its financial statements on time, and said it has appointed auditing company Valentas as a “supervisor” to Kevin. As supervisor, Valentas will be responsible for assisting in the delivery of the startup’s financial accounts for 2023, with a deadline of August 30 2024. Valentas will have to approve “all decisions of the institution's managers related to the activities of Kevin EU, UAB,” the Bank of Lithuania said; although it added that the supervisor “does not take over the management of the institution”. The Bank of Lithuania posted a press release on its website which says: “Kevin EU, UAB, is almost four months late in submitting the audited annual financial statements, postponed their submission deadline many times, does not provide the auditors with the necessary information to complete the audit, does not comply with the requirements of equity capital adequacy [and] does not ensure adequate internal control.” In 2021, kevin raised a $65m Series A from investors including Accel and Eurazeo. Earlier this year, Sifted also reported that the startup raised an additional $25m from existing backers. The institution added that it’s acting “due to the threat to the safe and reliable activities of kevin, and the interest of consumers”. 👉 Subscribe for more news https://lnkd.in/d94JgWBU Source Sifted #fintech #payments #digitalwallets

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Bank of Israel have issued Revolut with an identification code to enable them as a participant in a controlled payment system 💸 🏦 🌍 Operating along the “international outline” published by the Bank of Israel, enables access to the payment systems based on a foreign license from a recognized country, as well as on meeting ADDITIONAL conditions 🌐 💰 Participants in the Israeli payment systems are identified using a UNIQUE identification code and enables fintech companies to allocate payment account numbers to their customers, obligating other payment system participants to identify them in a unique way 👨‍💻 Oded Salomy 🎗️, Director of the Bank of Israel’s Payment and Settlement Systems Department, said: “The steps that the Bank of Israel has led have created opportunities for global fintech firms and firms from various fields to operate in the payments field in Israel, with regulatory guidance throughout the access process. These steps will advance competition in the financial system, and will contribute to improvement of service and lowering of costs. The Bank of Israel will continue developing the Israeli payments market, and working toward opening access to the controlled payment systems for nonbank participants.” Read more on the link below! 👇 בנק ישראל Bank of Israel Lior Georgi Andrew Abir Tomer Mizrahi Merav Shemesh Nurit Felter Eitan Amir Yaron Ori Altalat #revolut #digitalpayments #israel #fintech #fintechnews #paymentsystem #bankofisrael #paymentsecosystem #payments

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We share news from the media. Our experts are quoted by the Kommersant newspaper. In the article "Why banks are moving away from mobile to web applications" it says about the latest market trends, namely that: • Recently, Russian banks have been actively updating mobile applications due to sanctions and fraud; • Some banks remove their apps from the App Store and download them as web apps; • Switching to web applications has advantages, such as saving resources and the ability to use on any device; • Adaptive web applications have some disadvantages, such as limited functionality and lack of access to some functions. • Banks are stepping up web development in order to preserve the maximum of familiar functionality for their customers. • Sanctions restrictions encourage banks to switch to web versions, although this is not always fair. Evgeny Pudovkin, Technical Director of Telecom birzha, notes that in the near future we can expect the appearance of both other special browsers and an expansion of the range of market participants (and even companies from other industries) using such browsers: "The need to switch from native to web applications for at least sanctioned players is obvious, as well as The desire of credit institutions to preserve the maximum of their usual functionality for their customers is obvious." You can read the full text of the article at the link. https://lnkd.in/ep78dYt3

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payabl. Joins the Association of Cyprus International Financial Firms Ugnė B., Group CEO of payabl., commented: "As a member of ACIFF, we will have the opportunity to engage with industry leaders, participate in exclusive networking events, and contribute to the shaping of financial policies and practices that affect our sector. The association is committed to providing a platform for collaboration, education, and advocacy, ensuring that our collective voice is heard on both a national and international stage." https://lnkd.in/ewP2ZWvr Viali Munteanu Esfira Zakas Igor Skachkov Christia Evagorou Thekla Paschali Yurii Kulyk Ayse Moudourou #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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We live in a time where user experience is directly related to company and revenue growth. The science of user experience is based on psychological principles that were established a long time ago and are used to make digital products accessible and competitive. By understanding and applying these principles, companies can create intuitive and enjoyable experiences that meet the needs and expectations of their users. Investing in user experience design not only enhances customer satisfaction but also drives business success. By prioritizing user experience, companies can build stronger relationships with their customers, improve loyalty, and ultimately boost their bottom line. As technology continues to evolve, staying ahead of user experience trends and best practices will be key to maintaining a competitive edge. #telecom #fintech #userexperience #customsoftwaredevelopment #lixium

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Call for CEE disruptors in #Fintech #Startups or #Tech! See and talk to you here! FinTech Hub CEE | Mastercard

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