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Read our external blog article: Prove Partners with FNBO to Modernize Onboarding ExperienceRead our blog article: Prove Partners with FNBO to Modernize Onboarding Experience
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Prove Partners with FNBO to Modernize Onboarding Experience

Prove's partnership with FNBO modernizes customer onboarding by leveraging the Prove Pre-Fill identity verification solution to create a seamless, secure, and digital-first experience for co-branded cards.

Prove
Learn more about the author: Prove Partners with FNBO to Modernize Onboarding Experience
August 27, 2025

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Kaspi BankRead our blog article: Kazakhstan’s FinTech Giant – Kaspi BankKaspi BankRead our external blog article: Kazakhstan’s FinTech Giant – Kaspi Bank
Blog
Kazakhstan’s FinTech Giant – Kaspi Bank
Kazakhstan’s FinTech Giant – Kaspi Bank

Kaspi Bank, an Almaty-based intrepid service provider, is now making waves in the FinTech space following its overwhelming IPO success in 2020.

Prove
Learn more about the author: Kazakhstan’s FinTech Giant – Kaspi Bank
February 5, 2022
Islamic trade finance differs from the conventional trade finance system in a few significant ways. Islamic trade finance allows practitioners to finance trade transactions on either of the two models—credit or participation. The most important distinction is compliance with the Shari'a, a set of laws based on the Quran. These rules forbid the payment of interest on the credit extended, also known as riba. Considering that interest payment is one of the main attractions of lending, Shari’a limits the possibility of a common interest levied on transactions involving different countries. Consequently, each deal under the purview of Islamic trade finance must be approved by a board of scholars which offers an alternative to riba to facilitate such lending. Considering the imperative role trade financing plays in global growth and development and the number of countries with a vast Muslim population, Islamic banking and finance activities have tremendous potential to bolster the world economy. Accordingly, some international standards have been developed to ensure that Islamic trade finance can contribute to the global economy while adhering to the laws of the Quran. Components Of Islamic Trade Finance The Islamic trade finance ecosystem consists of a number of financial products and solutions that embrace the tenets of the Islamic holy book. The most frequently accessed instruments include contracts based on Murabahah, Musharakah, Wakalah, and Kafalah. Murabahah – In a Murabahah transaction, an Islamic bank can purchase goods or property as per the requirements of a customer and then sell at a mark-up profit. This is not an interest transaction, and neither is the bank extending a loan to the customer. It is simply the selling of goods to the customer with profit. The customer is given an option either to pay in one lump sum or by installments. Musharakah – Musharakah is a method that allows one to collect large amounts of capital to do business. In a Musharakah transaction, two or more individuals provide the capital for business, and they share the profit or loss. However, it is not necessary that all partners should participate directly in managing the business. Contracts following this technique are mostly used for import and export businesses. Wakalah – In a Wakalah contract, an Islamic bank acts as an intermediary for clients rather than as a direct participant in transactions. The bank is paid a pre-arranged fee or commission for its services instead of interest earned on the corpus. In this scenario, the customer must provide the bank with a deposit covering the total value of the traded goods. Kafalah – Kafalah works as a security for a loan or credit given to a person or a business enterprise. Such a contract is mostly leveraged for facilitating trade. It functions as a security for loans or credit extended to an individual or a business enterprise. Banks Engaged In Islamic Trade Finance Major banks such as Maybank Group Islamic Banking and the International Islamic Trade Finance Corporation (ITFC), part of the Islamic Development Bank Group, conduct their business in accordance with the Islamic trade finance norms. Maybank Islamic leads the domestic markets in Muslim countries such as Malaysia and offers Islamic financial services in the ASEAN region. It offers services in Indonesia, Singapore, Hong Kong, London, and Labuan as well. The ITFC was founded to advance trade among member states of the Organisation of Islamic Cooperation and is rated A1 by Moody's Investors Service, attesting to its integrity and creditworthiness. Since the Islamic banking and trade finance ecosystem strives for justice, transparency, inclusivity, and morality through its practices, the model is set to gain clout on a global platform. *Reports suggest that the industry—worth about $200 billion in 2003—is likely to touch the $4 trillion mark in the next decade, demonstrating its meteoric rise in the financial ecosystem. Islamic trade finance is stepping up to revitalize trade and unlock new opportunities in the years ahead with its secular nature and the willingness to offer services to customers across religious leanings. *Source: https://cocoainvest.com/4-misconceptions-about-islamic-finance/Read our blog article: Islamic Trade Finance In the New World OrderIslamic trade finance differs from the conventional trade finance system in a few significant ways. Islamic trade finance allows practitioners to finance trade transactions on either of the two models—credit or participation. The most important distinction is compliance with the Shari'a, a set of laws based on the Quran. These rules forbid the payment of interest on the credit extended, also known as riba. Considering that interest payment is one of the main attractions of lending, Shari’a limits the possibility of a common interest levied on transactions involving different countries. Consequently, each deal under the purview of Islamic trade finance must be approved by a board of scholars which offers an alternative to riba to facilitate such lending. Considering the imperative role trade financing plays in global growth and development and the number of countries with a vast Muslim population, Islamic banking and finance activities have tremendous potential to bolster the world economy. Accordingly, some international standards have been developed to ensure that Islamic trade finance can contribute to the global economy while adhering to the laws of the Quran. Components Of Islamic Trade Finance The Islamic trade finance ecosystem consists of a number of financial products and solutions that embrace the tenets of the Islamic holy book. The most frequently accessed instruments include contracts based on Murabahah, Musharakah, Wakalah, and Kafalah. Murabahah – In a Murabahah transaction, an Islamic bank can purchase goods or property as per the requirements of a customer and then sell at a mark-up profit. This is not an interest transaction, and neither is the bank extending a loan to the customer. It is simply the selling of goods to the customer with profit. The customer is given an option either to pay in one lump sum or by installments. Musharakah – Musharakah is a method that allows one to collect large amounts of capital to do business. In a Musharakah transaction, two or more individuals provide the capital for business, and they share the profit or loss. However, it is not necessary that all partners should participate directly in managing the business. Contracts following this technique are mostly used for import and export businesses. Wakalah – In a Wakalah contract, an Islamic bank acts as an intermediary for clients rather than as a direct participant in transactions. The bank is paid a pre-arranged fee or commission for its services instead of interest earned on the corpus. In this scenario, the customer must provide the bank with a deposit covering the total value of the traded goods. Kafalah – Kafalah works as a security for a loan or credit given to a person or a business enterprise. Such a contract is mostly leveraged for facilitating trade. It functions as a security for loans or credit extended to an individual or a business enterprise. Banks Engaged In Islamic Trade Finance Major banks such as Maybank Group Islamic Banking and the International Islamic Trade Finance Corporation (ITFC), part of the Islamic Development Bank Group, conduct their business in accordance with the Islamic trade finance norms. Maybank Islamic leads the domestic markets in Muslim countries such as Malaysia and offers Islamic financial services in the ASEAN region. It offers services in Indonesia, Singapore, Hong Kong, London, and Labuan as well. The ITFC was founded to advance trade among member states of the Organisation of Islamic Cooperation and is rated A1 by Moody's Investors Service, attesting to its integrity and creditworthiness. Since the Islamic banking and trade finance ecosystem strives for justice, transparency, inclusivity, and morality through its practices, the model is set to gain clout on a global platform. *Reports suggest that the industry—worth about $200 billion in 2003—is likely to touch the $4 trillion mark in the next decade, demonstrating its meteoric rise in the financial ecosystem. Islamic trade finance is stepping up to revitalize trade and unlock new opportunities in the years ahead with its secular nature and the willingness to offer services to customers across religious leanings. *Source: https://cocoainvest.com/4-misconceptions-about-islamic-finance/Read our external blog article: Islamic Trade Finance In the New World Order
Blog
Islamic Trade Finance In the New World Order
Islamic Trade Finance In the New World Order

Islamic trade finance differs from the conventional trade finance system in a few significant ways.

Prove
Learn more about the author: Islamic Trade Finance In the New World Order
February 5, 2022
neobanksRead our blog article: The Indian Growth Opportunity for NeobanksneobanksRead our external blog article: The Indian Growth Opportunity for Neobanks
Blog
The Indian Growth Opportunity for Neobanks
The Indian Growth Opportunity for Neobanks

Digital challenger banks are transforming the way banking is viewed by the consumers and the market.

Prove
Learn more about the author: The Indian Growth Opportunity for Neobanks
February 4, 2022
neobanksRead our blog article: Neobanks For the Next GenerationneobanksRead our external blog article: Neobanks For the Next Generation
Blog
Neobanks For the Next Generation
Neobanks For the Next Generation

Neobanks came to the fore with simple yet efficient solutions for millennials and the working Gen Z population.

Prove
Learn more about the author: Neobanks For the Next Generation
February 3, 2022
Aite-Novarica GroupRead our blog article: How Companies Can Optimize Onboarding with 80% Fewer Keystrokes and a 93% Opt-In RateAite-Novarica GroupRead our external blog article: How Companies Can Optimize Onboarding with 80% Fewer Keystrokes and a 93% Opt-In Rate
Blog
How Companies Can Optimize Onboarding with 80% Fewer Keystrokes and a 93% Opt-In Rate
How Companies Can Optimize Onboarding with 80% Fewer Keystrokes and a 93% Opt-In Rate

An excerpt from Aite-Novarica Group’s Impact Brief outlining the benefits of Prove Pre-Fill™, winner of their 2021 Impact Innovation Award in Fraud and AML (Customer Experience category).

Yuka Yoneda
Learn more about the author: How Companies Can Optimize Onboarding with 80% Fewer Keystrokes and a 93% Opt-In Rate
February 3, 2022
startup acceleratorsRead our blog article: 88 International Startup Accelerators, Incubators & Innovation Labs Nurturing Innovators in Financial Servicesstartup acceleratorsRead our external blog article: 88 International Startup Accelerators, Incubators & Innovation Labs Nurturing Innovators in Financial Services
Blog
88 International Startup Accelerators, Incubators & Innovation Labs Nurturing Innovators in Financial Services
88 International Startup Accelerators, Incubators & Innovation Labs Nurturing Innovators in Financial Services

Some of the interesting accelerators/incubators/innovation labs focused on financial and other types of technological innovations worldwide.

Prove
Learn more about the author: 88 International Startup Accelerators, Incubators & Innovation Labs Nurturing Innovators in Financial Services
February 3, 2022
PaymentsNextRead our blog article: Prove CEO Rodger Desai on PaymentsNext | 3 trends driving the digital identity market in 2022PaymentsNextRead our external blog article: Prove CEO Rodger Desai on PaymentsNext | 3 trends driving the digital identity market in 2022
Company News
Prove CEO Rodger Desai on PaymentsNext | 3 trends driving the digital identity market in 2022
Prove CEO Rodger Desai on PaymentsNext | 3 trends driving the digital identity market in 2022

As we evolve into a more phone-centric and mobile-first world, digital identification is becoming a powerful tool to enable safer and more secure transactions and digital interactions.

Learn more about the author: Prove CEO Rodger Desai on PaymentsNext | 3 trends driving the digital identity market in 2022
February 2, 2022
Digital IdentityRead our blog article: Prove CEO Rodger Desai on Toolbox | Digital Identity – Is the Solution to Cybersecurity in Your Pocket?Digital IdentityRead our external blog article: Prove CEO Rodger Desai on Toolbox | Digital Identity – Is the Solution to Cybersecurity in Your Pocket?
Company News
Prove CEO Rodger Desai on Toolbox | Digital Identity – Is the Solution to Cybersecurity in Your Pocket?
Prove CEO Rodger Desai on Toolbox | Digital Identity – Is the Solution to Cybersecurity in Your Pocket?

The right take on digital identity and mobile phone-based identity verification can increase security while enhancing customer experience.

Learn more about the author: Prove CEO Rodger Desai on Toolbox | Digital Identity – Is the Solution to Cybersecurity in Your Pocket?
February 1, 2022
RegtechRead our blog article: How European Banks Are Using RegTech SolutionsRegtechRead our external blog article: How European Banks Are Using RegTech Solutions
Blog
How European Banks Are Using RegTech Solutions
How European Banks Are Using RegTech Solutions

Large US and European banks are spending $20 billion a year on technology to help them comply with newly evolving regulations such as MiFID and PSD2.

Prove
Learn more about the author: How European Banks Are Using RegTech Solutions
February 1, 2022
NeobanksRead our blog article: Why Are Some Neobanks Reinventing Their Business Models?NeobanksRead our external blog article: Why Are Some Neobanks Reinventing Their Business Models?
Blog
Why Are Some Neobanks Reinventing Their Business Models?
Why Are Some Neobanks Reinventing Their Business Models?

Neobanks started a paradigm shift in financial services with a customer-centric core, which legacy banks could not offer.

Prove
Learn more about the author: Why Are Some Neobanks Reinventing Their Business Models?
January 31, 2022
multi-factor authenticationRead our blog article: What is Multi-Factor Authentication (MFA), and How Does It Work?multi-factor authenticationRead our external blog article: What is Multi-Factor Authentication (MFA), and How Does It Work?
Blog
What is Multi-Factor Authentication (MFA), and How Does It Work?
What is Multi-Factor Authentication (MFA), and How Does It Work?

Multi-factor authentication serves as an extra layer of security, designed specifically to prevent fraud caused by what security experts call the domino effect.

Prove
Learn more about the author: What is Multi-Factor Authentication (MFA), and How Does It Work?
January 31, 2022
BNPLRead our blog article: The BNPL Model and Rising Default Levels in the EcosystemBNPLRead our external blog article: The BNPL Model and Rising Default Levels in the Ecosystem
Blog
The BNPL Model and Rising Default Levels in the Ecosystem
The BNPL Model and Rising Default Levels in the Ecosystem

Thanks to consumerism and the possibility of purchasing a commodity in real time, without having to pay immediately, BNPL has become extremely popular among the tech-savvy smartphone generation.

Prove
Learn more about the author: The BNPL Model and Rising Default Levels in the Ecosystem
January 31, 2022
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