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Read our external blog article: Prove Launches Verified Agent Solution to Secure the $1.7 Trillion Agentic Commerce RevolutionRead our blog article: Prove Launches Verified Agent Solution to Secure the $1.7 Trillion Agentic Commerce Revolution
Company News

Prove Launches Verified Agent Solution to Secure the $1.7 Trillion Agentic Commerce Revolution

Prove launches Prove Verified Agent to secure the emerging $1.7 trillion agentic commerce market. This solution provides a new trust framework by cryptographically binding verified identity, intent, payment credentials, and consent for autonomous agents. Learn how Prove's frontier digital identity framework enables safe, scalable, and fraud-resistant agent-driven transactions.

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Fraud preventionRead our blog article: Mary Ann Miller on FraudToday | What Financial Services Firms Can Do to Fight FraudFraud preventionRead our external blog article: Mary Ann Miller on FraudToday | What Financial Services Firms Can Do to Fight Fraud
Company News
Mary Ann Miller on FraudToday | What Financial Services Firms Can Do to Fight Fraud
Mary Ann Miller on FraudToday | What Financial Services Firms Can Do to Fight Fraud

As technology evolves, enterprises become more vulnerable to scams.

No-Cost KYCRead our blog article: No-Cost KYC: How to Update Your 2022 Onboarding RoadmapNo-Cost KYCRead our external blog article: No-Cost KYC: How to Update Your 2022 Onboarding Roadmap
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No-Cost KYC: How to Update Your 2022 Onboarding Roadmap
No-Cost KYC: How to Update Your 2022 Onboarding Roadmap

Highlights from our “No-Cost KYC: How to Update Your 2022 Onboarding Roadmap” webinar.

5G & digital identityRead our blog article: Prove CEO Rodger Desai on Forbes | The Future Is Here: How 5G Is Revolutionizing Digital Identity5G & digital identityRead our external blog article: Prove CEO Rodger Desai on Forbes | The Future Is Here: How 5G Is Revolutionizing Digital Identity
Company News
Prove CEO Rodger Desai on Forbes | The Future Is Here: How 5G Is Revolutionizing Digital Identity
Prove CEO Rodger Desai on Forbes | The Future Is Here: How 5G Is Revolutionizing Digital Identity

Leaders in every industry need to stop thinking about 5G as merely another operating upgrade and start preparing for the revolutionary changes 5G will bring to everything from agriculture and urban planning to transportation and telemedicine.

human traffickingRead our blog article: How Prove is Partnering with Banks and Law Enforcement to Fight Human Traffickinghuman traffickingRead our external blog article: How Prove is Partnering with Banks and Law Enforcement to Fight Human Trafficking
Company News
How Prove is Partnering with Banks and Law Enforcement to Fight Human Trafficking
How Prove is Partnering with Banks and Law Enforcement to Fight Human Trafficking

Prove and The Knoble, have formed a task force with thirty banks across the US and law enforcement to create a blueprint for ongoing change demonstrating how financial companies, technology providers, and law enforcement can partner for the ongoing identification and prevention of human trafficking.

identity fraudRead our blog article: How FinTechs & Banks Can Battle Synthetic Identity Fraud, Bot Attacks, and Fake Accountsidentity fraudRead our external blog article: How FinTechs & Banks Can Battle Synthetic Identity Fraud, Bot Attacks, and Fake Accounts
Blog
How FinTechs & Banks Can Battle Synthetic Identity Fraud, Bot Attacks, and Fake Accounts
How FinTechs & Banks Can Battle Synthetic Identity Fraud, Bot Attacks, and Fake Accounts

Learn about how synthetic identity fraud, fake accounts, bot attacks, and “framing fraud” are impacting banks and FinTechs, as well as what they can do about it.

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

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.

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.

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.

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).

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.

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.

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