- Digital money is replacing physical cash, and FEXD is developing mobile transaction platforms and services that are helping implement the coming changes in the fintech market
- FEXD plans to acquire and merge with companies that include country-based fintech pioneers with global scalability, fintech service providers, companies with large customer bases, and more
- The company is helping ensure humanity has a path forward from archaic and restrictive cash systems – reducing poverty, improving the lives of the unbanked, providing critical financial options for migrant workers, connecting families and communities, empowering charities and women, and educating underprivileged children
With plans to offer a diverse portfolio of fintech-related products and services for consumers and businesses in the United States, South Asia, East Asia, Africa, Europe, and Latin America, Fintech Ecosystem Development (NASDAQ: FEXD) continues to move forward in the service of underserved and overlooked markets within the global financial ecosystem. The FEXD management team has extensive experience in developing and managing financial service platforms and applications, primarily in the mobile money sector, driving the move to a cashless society.
Digital money is replacing physical cash, with consumers able to buy products and services anywhere in the world and make payments across borders. FEXD is developing mobile transaction platforms and services that are helping implement the coming changes – especially in underserved and overlooked markets like rural areas and Asia, the Middle East, Africa, and Latin America.
FEXD supports the United Nations’ Sustainable Development Goal to reduce cross-border transaction costs from 7 percent to 3 percent. The company’s use of advanced technology is lowering fintech costs and international fees for cross-border transactions.
The company’s growth strategy includes seeking the acquisition and merging of high growth fintech primarily operating in South Asia. The target companies that FEXD plans to acquire and merge with will help the company grow to $1 billion and more in annual revenues as a part of the global fintech ecosystem it is developing. The companies that FEXD plans to acquire/merge with will exhibit the following characteristics:
- Country-based fintech pioneers with the global scalability
- Fintech service providers that will benefit from integrating more advanced technologies
- Fintech companies with a large existing customer base
- A shared interest in making an impact by bringing mobile transaction services to under-served markets
- Growth-oriented management teams
- Attractive valuation
FEXD is committed to supporting the fintech and digital money processes in developing countries and cultures. Using its keen understanding of market needs in regions worldwide, the company is helping ensure humanity has a path forward from an unhygienic cash system – reducing poverty, improving the lives of the unbanked, offering securing and savings options for migrant workers, connecting families and communities, empowering charities and women, and educating underprivileged children.
According to McKinsey research, there are four major trends driving the growth of digital payments worldwide, especially in emerging markets like Africa and Southeast Asia, where low banking penetration allows payment providers to capture untapped potential and reach underserved populations. The first trend, the pandemic, accelerated the contactless digital payments frontier. Second, e-commerce continues to grow and evolve, with global volumes expected to increase by 12 to 15 percent annually by 2025. Third, the government is pushing for cashless payments to facilitate interoperability, plug tax leakages, and ensure effective aid distribution. Lastly, McKinsey points out investor appetites for digital payments, leading to a proliferation of payments-focused fintechs (https://ibn.fm/oOGOX).
Many areas of the world have severely underserved financial service markets. Millions of people require faster and cheaper ways to transfer money directly across borders to fund business transactions and provide support. Mobile money platforms provide a solution to the billions of people who own a cell phone but do not have access to a bank. FEXD services allow people in other countries to access USD online accounts that are FDIC insured.
For more information, visit the company’s website at www.FintechEcoSys.com.
NOTE TO INVESTORS: The latest news and updates relating to FEXD are available in the company’s newsroom at https://ibn.fm/FEXD
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