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Money20/20 Europe Unveils Six Incredible Fintech Startups And Industry Disruptors 

AMSTERDAM, NL – June 6, 2024 – Money20/20, the world’s leading fintech show and the place where money does business, has unveiled six startups that are poised to transform the world of money. The selected startups are FlexvelopBrite PaymentsKore LabsNomyxVelexa, and NALA. The emerging startups were unveiled during Money20/20 Europe’s Startup Media Session on June 5th at the RAI in Amsterdam.

Money20/20 Europe brings together the most influential figures in the fintech and financial services landscape, unlocking growth opportunities for these startups to transform into industry heavy hitters.

“Startups have always been at the heart of Money20/20. It has been a real pleasure seeing the early-stage startups begin on our stages before maturing into some of the biggest players in the industry. As the world of money comes together for Money20/20 Europe, we are delighted to showcase startups that we believe will change the future of money, covering the entire gamut of the ecosystem from regulations to infrastructure. It’s a core mission for Money20/20 to identify, support, and elevate startups and we couldn’t be more proud to provide a platform for these handpicked businesses as they continue their growth journey,” said Scarlett Sieber, Chief Strategy and Growth Officer at Money20/20.

The six startups are:

Flexvelop is a German flexible financing solution for business equipment, enabling companies to lease technology and purchase it at a reduced price. Thanks to this flexible leasing, rental, and credit model, businesses can trial different equipment to see what best suits their needs, better react to market shifts, and find more cost-effective solutions tailored to them.

“For Flexvelop, this is the perfect exclusive opportunity to announce our upcoming move towards internationalization across Europe and to promote “Flexing” as a pioneering financing solution beyond the German borders. We are very grateful to the Money20/20 team for this valuable opportunity,“ said Dr. Hans-Christian Stockfisch

Brite Payments is a Swedish instant payments startup offering smarter, faster, and more financially sustainable ways for payments and payouts thanks to open banking.  Their technology allows funds to be transferred immediately and seamlessly with bank-grade security, minimizing risk for merchants and creating a hassle-free payment experience for consumers.

It is truly an honor to be chosen by Money20/20 Europe, which has established itself at the center of the European fintech ecosystem, to share our vision for payments and highlight the enormous potential of our out-of-the-box instant payments solution. The regulatory and macroeconomic environment in 2024 is a major catalyst for the growth of Pay by Bank payments. Boosted by fresh funding in 2023, we have now made that crucial step from start-up to scale-up, placing us at the forefront of the movement,” said Lena Hackelöer, Founder & CEO, Brite Payments.

Kore Labs is a UK-based, award-winning RegTech startup digitizing financial product management to reduce regulatory risks, costs, and time to market for financial products.  Kore serves a wide range of financial institutions, including major European banks, investment managers, and insurance companies.

“Kore Labs is excited to be named by Money 20/20 as one of Europe’s most promising startups. Our flagship product, KorePRM, continues to be a category-defining product management and governance platform for the financial services industry, already adopted by leading global firms. Kore Labs is disrupting the industry from within, by pioneering a new family of technologies specifically designed to make financial product management more transparent, efficient, and equitable. Kore Labs brings clarity, peace of mind and the power to make fully informed decisions for professionals in this industry – for the ultimate benefit of consumers,” said Sabrina Del Prete, founder and CEO of Kore Labs.

Nomyx is an American Web3 and AI tokenization startup enabling companies to transform traditional assets into digital tokens in a seamless, secure, and transparent manner. Businesses can tokenize a wide range of assets with Nomyx, such as traditional financial assets, real estate properties, art pieces, company shares, intellectual property rights, and collectibles. Nomyx unlocks liquidity for businesses and provides them with increased flexibility with portfolio management.

“We look forward to engaging with the global fintech community and showcasing the innovative solutions NOMYX brings to the table. This platform offers an unparalleled opportunity to share our vision for NOMYX and demonstrate how we are revolutionizing the management of digital assets,” said Ubair Javaid, CEO of Nomyx.

Velexa is a London-based white-label API-based investing platform offering global market access across all major asset classes and currencies. Velexa is the only multi-asset platform that offers a cutting-edge B2B2C WealthTech technology that empowers banks, brokers, wealth managers, and other institutions to embed investing services in their portfolios, delivering a unified personal finance experience for their end users, ultimately making finance less intimidating. In this way, Velexa aims to revolutionize financial literacy and wealth management across Europe.

“Thank you Money20/20 for selecting us alongside these five stellar startups and for supporting us in making our vision a reality. Wealthtech has the power and therefore the responsibility to enhance financial literacy and accessibility. We’re not just helping Europeans manage their finances; we’re empowering them to embark on a transformative wealth journey. Our partnerships with established banks and neobanks allow us to combine innovation with trust, creating a powerful force for financial initiation, ” said Tamara Kostova founder and CEO of Velexa.

NALA is an international money transfer app enabling individuals (nala.com) and businesses (rafiki.com) in the EU, US, and the UK to send money to 11 countries in Africa. Payments to Africa are significantly more expensive than payments to any other continent; NALA was built to reduce those fees through fast, reliable, and affordable cross-border payments. NALA has grown 29x in the past 20 months. Earlier this year, NALA turned profitable and achieved 10X revenue growth in the past 12 months. Their team grew from 7 to nearly 100 in this same time period.

“It’s a great opportunity to share the incredible growth story of Africa, the fastest-growing payment region in the world. Africa’s population is set to grow from 1.2 billion to 2.5 billion, and with 1 in 6 people on the planet projected to be African by 2050, this makes the continent the world’s largest global workforce. Yet, the payments infrastructure in Africa is only 1% built and the opportunity to build the technological infrastructure for Africa’s economic revolution remains largely untapped. This limits global companies like Uber, Netflix and Amazon from operating in the region. At NALA, we’ve made it our mission to build payments for the Next Billion and we’re excited to supercharge this journey with Money20/20.” said Benjamin Fernandes, Founder and CEO of NALA.

Money20/20’s Startup Media Session was designed as part of its goal to support startups sitting at the intersection of finance and technology. Last year’s winners included Net Purpose, Clima Cash, Eljun, GoKind, KYP, Zing, and Conduit, among others. To learn more about this year’s featured startups, please visit: https://www.money2020.com/

About Money20/20

Launched by industry insiders in 2012, Money20/20 has rapidly become the heartbeat of the global fintech ecosystem. Over the last decade, the most innovative, fast-moving ideas and companies have driven their growth on our platform. Mastercard, Wise, J.P. Morgan, SHIELD, Convera, Stripe, Google, VISA, Adyen, and more make transformational deals and raise their global profile with us. Money20/20 attracts leaders from the world’s greatest banks, payments companies, VC firms, regulators and media platforms: convening to cut industry-shaping deals, build world-changing partnerships and unlock future-defining opportunities in Amsterdam (4-6 June 2024), Las Vegas (27-30 October 2024) and in Bangkok (22-24 April 2025).

Money20/20 also recently launched Twentyfold, a Digital Intelligence product containing the deepest and widest repository of fintech startup data in the world. Money20/20 is where the world’s fintech leaders convene to grow their businesses. Money20/20 is part of Ascential plc. Follow Money20/20 on X and LinkedIn for show developments and updates. We’re Where Money Does Business.

Follow Money20/20 on Twitter for show developments and updates.

You can also find us on LinkedIn at Money20/20.

Contact:
Tina Loncaric
Global Head of PR
Money20/20
[email protected]
M: +1 469 288 5556

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Deepfake Fraud Doubles Down: 49% of Businesses Now Hit by Audio and Video Scams, Regula’s Survey Reveals

2024-09-30T11:00:00Z

RESTON, Va., Sept. 30, 2024 (GLOBE NEWSWIRE) -- In 2024, every second business globally reported incidents of deepfake fraud, revealing a growing trend in AI-related crimes over the past two years. Meanwhile, fraud involving fake or modified documents now outpaces AI-generated scams. These are the first findings from a new survey* “The Deepfake Trends 2024” commissioned by Regula, a global developer of forensic devices and identity verification solutions.

Regula’s survey data shows a significant rise in the prevalence of video deepfakes, with a 20% increase in companies reporting incidents compared to 2022**. While 29% of fraud decision-makers across Australia, France, Germany, Mexico, Turkey, UAE, UK, and the USA reported encountering video deepfake fraud in 2022, this year’s data — covering the USA, UAE, Mexico, Singapore, and Germany — shows this figure has surged to 49%. This sharp increase across the revised cohort underscores the growing challenge of video deepfakes and their continued threat to businesses.
Audio deepfakes are also on the rise, with a 12% increase compared to 2022 survey data.

Identity fraud tactics

Capture: The 12% rise in audio deepfake incidents and the 20% rise in video deepfake incidents from 2022 to 2024 highlight the need for enhanced detection and prevention measures.

The survey also reveals industrial and regional differences regarding companies’ experience with deepfake threats. For example, audio deepfakes prevail over video ones among the three of the surveyed sectors, including Financial Services (51%), Aviation (52%), and Crypto (55%). At the same time, Law Enforcement (56%), Technology (57%) and FinTech (57%) are reporting more face video scams.

The UAE and Singapore show higher susceptibility to deepfake fraud, with 56% of businesses in the UAE experiencing video deepfakes and 56% of businesses in Singapore encountering audio deepfakes. This is above the global average. In contrast, Mexico reported the lowest impact, with only 35% and 38% of businesses encountering video and audio deepfakes, respectively.

Old threats still persist

While video deepfakes are seeing the biggest jump over the two-year period (+20%), all other identity-related fraud has also grown, and some of its forms are more common than AI-generated scams.

As Regula’s survey shows, 58% of businesses globally have experienced identity fraud in the form of fake or modified documents. This happens to be the top identity fraud method for Mexico (70%), the UAE (66%), the US (59%), and Germany (59%). This implies that not only do businesses have to adapt their verification methods to deal with new threats, but they also are forced to combat old threats that continue to pose a significant challenge.

Interestingly, in a country more exposed to deepfakes, Singapore, this “traditional” threat is much lower than in the world at large: only 43% of businesses there reported having dealt with fake or tampered IDs.

“Our latest survey demonstrates that AI-generated identity fraud has become an everyday reality. The surge in deepfake incidents over the two-year period of our survey leaves businesses no choice but to adapt and rethink their current verification practices. Deepfakes are becoming increasingly sophisticated, and traditional methods are no longer enough. What we think may work well is the liveness-centric approach, a robust procedure that involves checking the physical characteristics of both individuals and their documents; in other words, verifying biometrics and ID hardcopies in real-time interactions. This is what we adhere to in our R&D and what we recommend that our customers do to protect themselves,” says Ihar Kliashchou, Chief Technology Officer at Regula.

Stay tuned for further insights as we continue to analyze and release more data on deepfake fraud. We’ll provide key updates to keep you informed and prepared for emerging threats.

Additional resources:

*The research was initiated by Regula and conducted by Sapio Research in August 2024 using an online survey of 575 business decision-makers across the Financial Services (including Traditional Banking and FinTech), Crypto, Technology, Telecommunications, Aviation, Healthcare, and Law Enforcement sectors. The respondent geography included Germany, Mexico, the UAE, the US, and Singapore.

**After aligning the 2024 survey data with the 2022 cohort for a direct comparison, it reveals that 49% of companies experienced both audio and video deepfakes, up from 37% and 29%, respectively, in 2022. However, the unadjusted 2024 survey — which includes a larger sample size and new regions such as Singapore, in place of countries like Australia and Turkey — indicates that 50% of companies were affected by both types of deepfakes.

About Regula

Regula is a global developer of forensic devices and identity verification solutions. With our 30+ years of experience in forensic research and the most comprehensive library of document templates in the world, we create breakthrough technologies for document and biometric verification. Our hardware and software solutions allow over 1,000 organizations and 80 border control authorities globally to provide top-notch client service without compromising safety, security, or speed. Regula has been repeatedly named a Representative Vendor in the Gartner® Market Guide for Identity Verification.

Learn more at www.regulaforensics.com.

Contact:
Kristina – [email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/59658107-89ca-4806-956c-853e8dfaad3e


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