by lindsay@oonie.co.za | Nov 4, 2021 | News
Xago, an innovative crypto fintech based in South Africa, launches their mobile application which includes Neuromorphic Biometric Technology to authenticate and protect Clients, a world-first.
The revolutionary mobile app uses advanced (future generation) neuromorphic computing technologies to simulate human cognition – how the brain naturally and instinctively recognises people. The result is a far more secure and a far more convenient client experience when registering and logging in to transact on Xago’s platform.
“Developed by research scientists at aiQ Cognitive Technologies, not only does the app’s authentication outperform conventional biometrics (fingerprint, facial recognition, voice recognition), but it also does what no on-device biometric is able to do – certify the identity of a person by referencing identity data held by the Department of Home Affairs (DHA), in real time,” announces, Mark Chirnside, CEO and Co-founder of Xago.
According to the Southern African Fraud Prevention Service (SAFPS), identity theft (impersonation fraud) was up by 337% in 2020, indicating that the Covid-19 pandemic created a massive opportunity for fraudsters. Xago’s takes security, client verification and authentication very seriously and their mobile app has now made conventional login names, passwords and One Time Passwords (OTPs) completely outdated and, in fact, ultimately redundant. Their mobile app also offers not only 2 Factor Authentication (2FA), but 3 Factor Authentication (3FA). 3FA has all three of the following categories: knowledge (e.g. password), possession (e.g. mobile device) and inherence/biological feature (e.g. facial recognition). Now, Xago’s clients can simply look at their phone without having to type, touch, swipe, scroll, press or enter any information, knowing that they cannot be replaced by a fraudulent actor.
The regulation of crypto assets in South Africa is anticipated to be sooner rather than later and Xago, announced recently that it is first to implement allowances for crypto.
Watch SABC TV News On Point’s Nompu Sizia interview Mark Chirnside, Xago’s CEO and Co-Founder
Download the Xago Mobile App.
About aiQ Cognitive Technologies
aiQ Cognitive Technologies is represented by a group of research scientists, previously from the University of Johannesburg (South Africa), who together with the Chennai Institute of Technology (India), have been researching and developing technology solutions which aim to manipulate the full potential of Neuromorphic Computing, an advanced, future generation Artificial intelligence (AI) and Machine Learning (ML) technology that’s not constrained by current methodologies. Assisted by Intel Labs, aiQ engineers have successfully managed to develop neuromorphic solutions that answer complex problems that lie beyond the scope of conventional AI and ML capabilities. https://aiqtech.co.za
About Xago Technologies (Pty) Ltd.
Xago moves money across the world highly securely, quickly, and at low cost by utilising the power of blockchain technology, mobile networks and crypto payment rails. Xago is transforming the money transfer industry by bypassing traditional payment rails, with a core focus on empowering people in Africa. Crypto Exchanges, Financial Institutions, eCommerce Platforms, Retailers, Business Owners and Investors partner with Xago. Partner with CERTAINTY.
For more information or to arrange an interview with Mark Chirnside, Xago’s CEO and Co-founder, please contact:
Cheridan Inglis
Chief Marketing & Information Officer
cheridan@xago.io
by lindsay@oonie.co.za | Oct 27, 2021 | News
Innovative UK payment services company, FintechCashier, chooses Xago as their preferred partner to expand their merchant payment ecosystem solution, Gateway Cashier, into Africa.
“We are honoured to be the partner of choice for the FintechCashier Group, to enable them to offer accurate and fast payment products and services across the continent. Utilising Xago’s gateway enables clients like FintechCashier to transfer funds from one point to another with efficiency, speed, and at low-cost, while being certain that they are partnering with a credible company,” announces Kevin Lewis, Chief Revenue Officer at Xago.
Both Xago and FintechCashier manage security, Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance with vigilance, making this collaboration an obvious next step to empower business owners in Africa.
“The FintechCashier Group is pleased to partner with Xago to enable our SMEs and Family Office clients to access the South African payments market and a foothold into the wider African continent. We are impressed by the professionalism of the Xago team and their in depth approach to moving funds across the world efficiently.
We are very confident that compliance and all regulatory requirements are up to date as, since its inception in 2016, Xago has championed fair regulation of the crypto industry and has been engaging with the South African Regulators,” comments Natalie Kastberg, Head of Operations at FintechCashier.
The regulation of crypto assets in South Africa is anticipated to be sooner rather than later and Xago, announced recently that it is first to implement allowances for crypto.
About FintechCashier Group
The FintechCashier Group is a payment gateway and solution provider, setting up the operation and support during all stages from onboarding to full deployment. FintechCashier guarantees a seamless, transparent, and fast portal for their customers to receive the transaction related funds of their clients, to manage their cash flow, and to make settlements. FintechCashier supports a wide spectrum of services, ranging from credit card processing, exchange, eCommerce and wire solutions. Their platform works with the global market technology infrastructure. www.fintechcashier.com
For more information, please contact:
Cheridan Inglis
Chief Marketing & Information Officer
cheridan@xago.io
by lindsay@oonie.co.za | Oct 25, 2021 | News
Partner with CERTAINTY. Partner with Xago.
The regulation of crypto assets in South Africa is anticipated to be sooner rather than later and Xago, an innovative Fintech based in Cape Town, announces that it has now updated its solution to cover what Xago’s compliance and business teams believe will protect its Clients.
Watch SABC TV News On Point’s Nompu Sizia interview Mark Chirnside about the future of cryptocurrencies
For more information, please contact:
Cheridan Inglis
Chief Marketing & Information Officer
marketing@xago.io
by lindsay@oonie.co.za | Oct 22, 2021 | News
Xago is changing the world of money transfer for Africans and, by default, signalling the future of money.
The world is already well into the advance of digital currency and banks are realising that cryptocurrencies will have a fundamental effect on the way money is traded and transferred around the globe now, and even more so, in the future.
As 5G is changing the world by bridging the digital divide for users, so crypto is changing the world of money. The modern economy has empowered customers, evolving customer demands, values customer data and has a desire for personal service.
We see clear trends in the evolution of industry worldwide – Uber has evolved its sector, Netflix is redefining its sector, with Air/BnB seeing the merging of sectors. We can send messages and videos, host online events and meetings, share experiences via social networks with people around the globe, all for free.
Blockchain and crypto assets are fundamental pillars advancing us into the new economy that is the 4th Industrial Revolution. In a world where customers hold the upper hand somewhat, digital trade and transactions have to be cost effective, efficient, highly secure and super-fast. Banks, money transfer companies and global payment processors have real time proof of concepts utilising cryptocurrencies in live testing. Central Banks are experimenting with issuing currencies on the blockchain. But we still cannot pay anyone, anywhere cost-effectively, instantly.
This is the competitive edge that has driven Xago to develop a transactional gateway to move money, to anyone, across borders at a fraction of the cost of existing providers. In Africa, this has caused a significant change in the way money is transferred around the continent and across the world.
Now money moves from Cape Town to Lagos in less that 4 seconds, at a fraction of the cost that traditional entities have been charging its customers. Of course, banks have taken note, and immediately started investing in this technology that is changing the world of money, literally.
And this is only the beginning of the future of money.
Partner with CERTAINTY. Partner with Xago.
Contact partnerships@xago.io to find out more.
by lindsay@oonie.co.za | Oct 12, 2021 | News
The regulation of crypto assets in South Africa is anticipated to be sooner rather than later and Xago, an innovative Fintech based in Cape Town, announces that it is now updated its solution to cover what Xago’s compliance and business teams believe will protect its Clients.
“Xago is extremely proud to be the first to implement the management of crypto allowances, referred to as Xago’s Discretionary Allowances (XDA), through our Platform. Xago has proactively developed, and is monitoring and reporting on cryptocurrency transactions, including communication touch points guiding our clients through the process,” announces Mark Chirnside, CEO and Co-Founder of Xago.
As of Monday, the Chinese judiciary is reportedly investigating how to convict activities related to cryptocurrency. In the last week of September, China announced a complete ban on cryptocurrencies, negatively effecting the value of Bitcoin, Ethereum and other coins. Chinese officials have taken steps for years to crack down on crypto with mixed effects and the global cryptocurrency market made a swift comeback, recouping its losses.
Fortunately other countries, like South Africa, have a more collaborative approach as there can no longer be any doubt, crypto is here to stay and is, most likely, the future of money. The world is already well into the advance of digital currency and banks are realising that cryptocurrencies will have a fundamental effect on the way money is transferred around the globe. “In a world where customers hold the upper hand somewhat, digital trade and transactions have to be cost effective, efficient, secure and super-fast. We believe that fair regulation of crypto assets will enable us to deliver these requirements to all consumers,” confirms Chirnside.
The changes being implemented are based on a Xago business decision and not necessarily a regulatory requirement of the crypto marketplaces.
For more information, please contact:
Cheridan Inglis
Chief Marketing & Information Officer
marketing@xago.io
by lindsay@oonie.co.za | Sep 29, 2021 | News
In these times of unprecedented and permanent change, the new normal is uncertainty. True leadership, credibility and empathy will see us navigate successfully. Industry leaders and companies have a responsibility to show the character that creates a level of certainty at a time when pilfering and fraud is too commonplace.
But, as the axiom reads in Japan, this always presents the greatest opportunities. For a leader, for a company, for a country … for the global community.
Yes, the bigger existential questions always force us to re-think, as did the case for technology and social media in recent times. Just this time with the pandemic, our real existence came into question. What is the new normal we want to create? What are our responsibilities as leaders?
Since its inception, Xago has subscribed to, and enforced, strict Anti-Money Laundering and Counter-Terrorist Financing protocols, as well as championing fair regulation of the crypto industry. Jurgen Kuhnel, CCO and Mark Chirnside, CEO and both Co-Founders of Xago, have been working closely with the relevant stakeholders within the Intergovernmental Fintech Working Group (IFWG) over the last year to do just that.
Chirnside confirms their views on being supportive of regulation, “Xago has been amongst the first to stand in line to work with the IFWG regulators to bring the regulatory treatment of crypto assets under observation and we are proud and honoured to participate as it bears testimony to the respect for and the credibility of our company in the domestic and global fintech space.”
Xago understands that the cryptocurrency market is heading for dramatic and lasting change. Once the black sheep of the financial world, crypto can now step into the mainstream with credibility. Xago was established in 2016 and works with strategic partners and investors such as Imvelo Ventures, founded by Capitec Bank and Empowerment Capital Investment Partners. So how do people re-emerge into a world of disconnection and isolation? Research says we are now much more in tune with technology and humanity than ever before. The Xago solution to a global problem at this time is literally changing the finance world. Cost effective, highly-secure, fast money transfers through Xago’s crypto rails certainly levels the playing field.
Change is a visible and tangible force for good. And levelling the world’s financial imbalances is the greatest act of service, especially in Africa. What does this mean for you and your organisation? It means that Xago is a well-known, established, trusted, credible crypto fintech with experienced leaders that understand their responsibilities to you and your clients.
Bringing you CERTAINTY.
