June 27, 2017
Selectcore, First Global create FintechUnion
TORONTO--First Global Data and Selectcore, both companies are pleased to announce the formation of FintechUnion.
FINTECHUnion is the convergence of various forms of FINTECH such as a prepaid card and mobile wallet that enables a full spectrum of payments as well as domestic and cross border remittances.
Both Selectcore and First Global have transformed themselves to full suite FINTECH enterprises and it is the intent of the JV to exploit pipeline opportunities and new initiatives. Revenues and associated expenses will be shared between the two parties.
"The formation of FintechUnion was a brilliant marriage of combining two technologies that as a whole creates a far greater value proposition and opens up many doors as various enterprises look for a comprehensive Fintech solution", commented Andre Itwaru, CEO of First Global.
Mohammad Abuleil, CEO of Selectcore comments, "I am absolutely thrilled to see the evolvement of our corporate transformation to a viable multi product FINTECH enterprise. We are going after targeted opportunities that will provide accelerated pathways to revenue generation. We look forward to building enhanced shareholder value alongside First Global and delivering best in class service to our clients."
With the ability to access a prepaid card solution and add it to a mobile wallet/remittance platform, we have created a novel and innovative FINTECH dynamic. We are now able to offer a full suite FINTECH solution to our large enterprise clientele.
First Global is an international financial services technology company. The Company's two main lines of business are mobile payments and cross border payments. First Global's proprietary leading edge technology enables the convergence of compliant domestic and cross border payments, shopping, Peer to Peer ("P2P"), Business to Consumer ("B2C"), and Business to Business ("B2B") payments. First Global enables its strategic partners and clients around the world with our leading edge financial services technology platform.
Established in 1999, SelectCore is a leading prepaid financial services provider. From prepaid mobile top-up to stored-value cards and remittance solutions, SelectCore services a market of millions of under-banked consumers, corporates and governments through its technology platforms. SelectCore was ranked by Profit100 as one of Canada's fastest-growing companies in 2006, 2007, 2009 and 2010. SelectCore was also ranked one of North America's fastest growing companies on Deloitte's 2011 Technology Fast 500.