logo
Remitex Technologies Honored as 'Startup of the Month' by DIFC Innovation Hub

Remitex Technologies Honored as 'Startup of the Month' by DIFC Innovation Hub

Entrepreneur22-07-2025
This accolade celebrates Remitex's innovative contributions to the financial sector through its cutting-edge AI-powered compliance and operational solutions.
You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.
Remitex Technologies Ltd, a Dubai-headquartered regulatory technology (regtech), has been distinguished as the "Startup of the Month" for June 2025 by the DIFC Innovation Hub.
This accolade celebrates Remitex's innovative contributions to the financial sector through its cutting-edge AI-powered compliance and operational solutions.
Since its inception in 2020, Remitex has been at the forefront of revolutionizing compliance and automation within the GCC financial landscape. The company's intelligent platform seamlessly manages the entire customer lifecycle—from onboarding and electronic Know Your Customer (eKYC) verification to transaction monitoring and comprehensive reporting. Its flagship offerings include DIGI Comply, an AI-driven compliance management system; DIGI Core, a robust end-to-end infrastructure tailored for exchange houses; and an Open Finance gateway, facilitating secure API integration via the Central Bank of the UAE's Ozone API Hub.
Dr. Abhishek Jajoo, founder and CEO of Remitex, said, "We are deeply honored to receive this recognition from the DIFC Innovation Hub. This achievement underscores the unwavering commitment of our team and the confidence our clients place in us. At Remitex, we are not just addressing today's regulatory challenges — we are building the foundational infrastructure for the future of compliance. The support from the DIFC ecosystem has been invaluable throughout our journey."
With over 500 active deployments across multiple jurisdictions, Remitex serves a diverse portfolio of clients, including leading UAE banks, exchange houses, insurance firms, and major players in telecommunications and retail. Recent strategic partnerships with prominent GCC insurance providers have further cemented Remitex's growing influence within the regional insurance market.
This latest distinction adds to Remitex's impressive list of accolades, including recognition as one of the "100 Future Enterprises of the UAE" by the Ministry of Economy in 2023, finalist status in the Mohammed Bin Rashid Innovation Fund & Accelerator (MBRIF) in 2023, and the title of "Most Outstanding AI-Driven KYC Solutions Provider" in 2021.
Remitex's Governance, Risk, and Compliance (GRC) solutions empower clients with advanced tools for fraud risk mitigation, real-time transaction surveillance, and automated goAML reporting—ensuring adherence to evolving regulatory frameworks such as the Central Bank of the UAE guidelines and FATF recommendations.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Nium and iPiD Deepen Strategic Collaboration to Advance VoP Compliance and Global Fraud Prevention
Nium and iPiD Deepen Strategic Collaboration to Advance VoP Compliance and Global Fraud Prevention

Yahoo

timean hour ago

  • Yahoo

Nium and iPiD Deepen Strategic Collaboration to Advance VoP Compliance and Global Fraud Prevention

SINGAPORE, Aug. 11, 2025 /PRNewswire/ -- Nium, the leading global infrastructure for real-time cross-border payments, today announced the expansion of Verify, its account validation service, in Europe, through a strengthened strategic partnership with iPiD, the provider of the Know Your Payee (KYP) solution, iPiD Node. As part of this deepening collaboration, iPiD is also leveraging Nium's Verify technology to enhance its own validation capabilities, marking a mutual partnership between two of Singapore's most prominent fintech innovators. By tapping into Nium's established account verification infrastructure, iPiD is able to enhance its global coverage. This two-way partnership underscores both companies' shared vision to increase trust, reduce fraud, and meet evolving regulatory demands in cross-border payments. With VoP becoming a regulatory requirement in the EU by October 2025, payment service providers (PSPs) will be expected not only to verify payee details but also to demonstrate that verification was attempted and properly recorded. Through this collaboration, the integration of iPiD Node extends the reach of Nium's Verify solution in the EU, with audit-ready coverage in the additional 41 countries of the SEPA zone; adding to Nium's instant account verification capabilities in 25 countries globally. Nium's position as the only provider with direct access to global RTP schemes for the purpose of both payments and real-time account validation is complemented by iPiD Node's compliance-ready infrastructure. Since Nium launched Verify, it has helped customers save millions of dollars in fraud and error related costs. A leading global remittance provider saw their error rates reduce from 1.41% to 0.34% after implementing Verify. At the same time, iPiD Node has enabled institutions to meet increasingly stringent VoP compliance requirements through evidence-ready audit logs, while helping reduce false positives and manual reviews in high-risk cross-border transactions. "It's powerful when a trusted partner chooses to become a customer," said Damien Dugauquier, Co-founder & CEO at iPiD. "We're proud to work alongside Nium — not just as fellow Singapore fintechs, but as like-minded teams solving the next generation of cross-border compliance and fraud challenges." While many providers rely solely on name-matching tools for payee validation, Nium's Verify solution, with the integration of the iPiD Node allows its infrastructure to deliver an elevated experience, leveraging real-time API responses directly from domestic RTP systems for unmatched accuracy and fraud prevention, while also providing transparent, accurate and secure cross-border transactions. The addition of iPiD Node also ensures advanced capabilities in the EU including: Real-time request/response name-checking flows Evidence-ready forensics and audit logs to meet regulatory requirements Flexible name-matching logic to balance security with usability "As regulation and risk evolve, we're focused on building infrastructure that goes beyond the payment to provide both compliant and customer-centric solutions," said Alexandra Johnson, Chief Payments Officer at Nium. "Deepening our relationship with iPiD gives us the tools to further scale our Verify solution for account validation with confidence." The collaboration also reflects growing synergy between Singapore's fintech leaders in advancing secure, compliant, and scalable financial infrastructure on the global stage. Together, Nium and iPiD are setting a new standard for payee verification - combining real-time intelligence, regulatory readiness, and ecosystem collaboration to make global payments safer and smarter. About Nium Nium, the leading global infrastructure for real-time cross-border payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the global economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 190+ countries, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 40 markets. Nium's growing card issuance business is already available in 34 countries. Nium holds regulatory licenses and authorizations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore. About iPiDiPiD is a global leader in Know Your Payee (KYP) solutions, specializing in payee verification. Our technology enables financial institutions, payments service providers and corporations to improve payment experiences, reduce errors, protect against fraud and ensure compliance. Logo - View original content to download multimedia: SOURCE Nium

Nvidia to Pay the U.S. Government 15% of China AI Chip Sales. How Will Its Revenue and Profits Be Impacted?
Nvidia to Pay the U.S. Government 15% of China AI Chip Sales. How Will Its Revenue and Profits Be Impacted?

Yahoo

timean hour ago

  • Yahoo

Nvidia to Pay the U.S. Government 15% of China AI Chip Sales. How Will Its Revenue and Profits Be Impacted?

Key Points Nvidia and AMD have reportedly agreed to give the U.S. government 15% of their revenue from sales of their respective artificial intelligence (AI) data center chips designed for the China market in exchange for obtaining export licenses. This will be a very minor speed bump for Nvidia, whose revenue growth and profitability are phenomenal. 10 stocks we like better than Nvidia › Nvidia (NASDAQ: NVDA) and fellow graphics processing unit (GPU) maker Advanced Micro Devices, or AMD, have agreed to give the U.S. government 15% of their revenue from sales of their respective artificial intelligence (AI) data center chips designed for the China market in exchange for obtaining export licenses for these chips, according to the Financial Times, which first reported the story on Sunday night. The 15% AI chip revenue deal The U.S. Commerce Department began issuing export licenses for Nvidia's H20 chip and AMD's MI308 chip on Friday, the Financial Times (FT) reported on Friday. Nvidia provided a statement to the FT after it broke the government deal story on Sunday night that included the following: "We follow rules the U.S. government sets for our participation in worldwide markets." Background on Nvidia's H20 chip Nvidia had designed the H20 AI-enabling GPU specifically for the Chinese market after earlier U.S. export controls, enacted under the administration of President Joe Biden, meant it couldn't sell its more advanced data center AI chips to China. In mid-April, the Trump administration expanded the restrictions to include the H20. Nvidia immediately halted its sales and took a charge of $4.5 billion on its Q1 results for H20 inventory and purchase commitments. Then in mid-July, Nvidia emailed investors who subscribe to the company's news and said it was "filing applications to sell the Nvidia H20 GPU again. The U.S. government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon." At the time, there was no mention of giving the government a 15% cut of H20 revenue as a condition for obtaining export licenses. How will Nvidia's revenue be affected by this deal? We can get an estimate as to how this deal will affect Nvidia's financial results by looking at the company's fiscal first quarter, which ended on April 27. In that quarter, Nvidia sold $4.6 billion in H20 chips to China prior to the start of the export controls in mid-April. It said it was unable to ship $2.5 billion in H20 chips that it had already produced due to the export controls. So, had the restrictions not existed, Nvidia would have sold $7.1 billion in H20 chips to China customers in Q1. This amounts to 15.2% of $46.6 billion, which is what its total revenue would have been, absent the export controls. Over 15% of its total revenue is significant, so you can see the importance of Nvidia's China data center business. For its fiscal Q2 (which ended July 27), investors should expect Nvidia to report no sales of its H20 chip, because the export restrictions were in place the entire quarter. However, H20 sales should fully rebound in fiscal Q3 (late July to late October). When Nvidia provided Q2 guidance, it estimated that it would lose about $8 billion in H20 chip sales due to the export controls. So, keeping with roughly the same sequential quarter growth, let's assume Q3 H20 sales will be about $9 billion. In this case, Nvidia would pay the U.S. government $1.35 billion, which is 15% of $9 billion. While $1.35 billion seems like a huge number, it's only a small percentage of Nvidia's overall quarterly revenue. In Q1, Nvidia's total revenue was $44.1 billion -- and it would have been $46.6 billion, had it not "lost" sales of $2.5 billion due to the export restrictions. That $1.35 billion is only 2.9% of $46.6 billion. But the actual Q3 percentage will be smaller because Nvidia's revenue will be higher in Q3 than Q1. A revenue loss of somewhere between 2% to 3% of total sales is a very minor speed bump. Moreover, it's a much better situation than having no H20 sales. How will Nvidia's profitability be affected by this deal? Giving the government a 15% cut of H20 sales revenue should also negatively affect Nvidia's bottom line. But it should be an extremely minor dent, because Nvidia's data center platform is amazingly profitable. On that note, Nvidia overall is amazingly profitable. Nvidia doesn't break out its profitability by platform, so we'll have to use its overall numbers. In Q1, Nvidia's adjusted gross margin (gross profit divided by revenue) absent the $4.5 billion H20-related charge was 71.3%. The company provided its adjusted earnings per share (EPS) absent the charge, so I could calculate adjusted net income absent the charge and then from that calculate adjusted net profit margin (net income divided by revenue) absent the charge -- which would have been 56.1%. In other words, Nvidia converts more than half of its revenue into adjusted profits in a typical quarter, which is just phenomenal. It can easily absorb slightly less profitability on its H20 chips, which, again, account for roughly 15% of its total revenue in a typical quarter. In short, Nvidia stock's strong upward trajectory should not be hurt by the company having to give the government a slice of its H20 sales. Should you invest $1,000 in Nvidia right now? Before you buy stock in Nvidia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nvidia wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,119,863!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 11, 2025 Beth McKenna has positions in Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices and Nvidia. The Motley Fool has a disclosure policy. Nvidia to Pay the U.S. Government 15% of China AI Chip Sales. How Will Its Revenue and Profits Be Impacted? was originally published by The Motley Fool Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

Nvidia to Pay the U.S. Government 15% of China AI Chip Sales. How Will Its Revenue and Profits Be Impacted?
Nvidia to Pay the U.S. Government 15% of China AI Chip Sales. How Will Its Revenue and Profits Be Impacted?

Yahoo

timean hour ago

  • Yahoo

Nvidia to Pay the U.S. Government 15% of China AI Chip Sales. How Will Its Revenue and Profits Be Impacted?

Key Points Nvidia and AMD have reportedly agreed to give the U.S. government 15% of their revenue from sales of their respective artificial intelligence (AI) data center chips designed for the China market in exchange for obtaining export licenses. This will be a very minor speed bump for Nvidia, whose revenue growth and profitability are phenomenal. 10 stocks we like better than Nvidia › Nvidia (NASDAQ: NVDA) and fellow graphics processing unit (GPU) maker Advanced Micro Devices, or AMD, have agreed to give the U.S. government 15% of their revenue from sales of their respective artificial intelligence (AI) data center chips designed for the China market in exchange for obtaining export licenses for these chips, according to the Financial Times, which first reported the story on Sunday night. The 15% AI chip revenue deal The U.S. Commerce Department began issuing export licenses for Nvidia's H20 chip and AMD's MI308 chip on Friday, the Financial Times (FT) reported on Friday. Nvidia provided a statement to the FT after it broke the government deal story on Sunday night that included the following: "We follow rules the U.S. government sets for our participation in worldwide markets." Background on Nvidia's H20 chip Nvidia had designed the H20 AI-enabling GPU specifically for the Chinese market after earlier U.S. export controls, enacted under the administration of President Joe Biden, meant it couldn't sell its more advanced data center AI chips to China. In mid-April, the Trump administration expanded the restrictions to include the H20. Nvidia immediately halted its sales and took a charge of $4.5 billion on its Q1 results for H20 inventory and purchase commitments. Then in mid-July, Nvidia emailed investors who subscribe to the company's news and said it was "filing applications to sell the Nvidia H20 GPU again. The U.S. government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon." At the time, there was no mention of giving the government a 15% cut of H20 revenue as a condition for obtaining export licenses. How will Nvidia's revenue be affected by this deal? We can get an estimate as to how this deal will affect Nvidia's financial results by looking at the company's fiscal first quarter, which ended on April 27. In that quarter, Nvidia sold $4.6 billion in H20 chips to China prior to the start of the export controls in mid-April. It said it was unable to ship $2.5 billion in H20 chips that it had already produced due to the export controls. So, had the restrictions not existed, Nvidia would have sold $7.1 billion in H20 chips to China customers in Q1. This amounts to 15.2% of $46.6 billion, which is what its total revenue would have been, absent the export controls. Over 15% of its total revenue is significant, so you can see the importance of Nvidia's China data center business. For its fiscal Q2 (which ended July 27), investors should expect Nvidia to report no sales of its H20 chip, because the export restrictions were in place the entire quarter. However, H20 sales should fully rebound in fiscal Q3 (late July to late October). When Nvidia provided Q2 guidance, it estimated that it would lose about $8 billion in H20 chip sales due to the export controls. So, keeping with roughly the same sequential quarter growth, let's assume Q3 H20 sales will be about $9 billion. In this case, Nvidia would pay the U.S. government $1.35 billion, which is 15% of $9 billion. While $1.35 billion seems like a huge number, it's only a small percentage of Nvidia's overall quarterly revenue. In Q1, Nvidia's total revenue was $44.1 billion -- and it would have been $46.6 billion, had it not "lost" sales of $2.5 billion due to the export restrictions. That $1.35 billion is only 2.9% of $46.6 billion. But the actual Q3 percentage will be smaller because Nvidia's revenue will be higher in Q3 than Q1. A revenue loss of somewhere between 2% to 3% of total sales is a very minor speed bump. Moreover, it's a much better situation than having no H20 sales. How will Nvidia's profitability be affected by this deal? Giving the government a 15% cut of H20 sales revenue should also negatively affect Nvidia's bottom line. But it should be an extremely minor dent, because Nvidia's data center platform is amazingly profitable. On that note, Nvidia overall is amazingly profitable. Nvidia doesn't break out its profitability by platform, so we'll have to use its overall numbers. In Q1, Nvidia's adjusted gross margin (gross profit divided by revenue) absent the $4.5 billion H20-related charge was 71.3%. The company provided its adjusted earnings per share (EPS) absent the charge, so I could calculate adjusted net income absent the charge and then from that calculate adjusted net profit margin (net income divided by revenue) absent the charge -- which would have been 56.1%. In other words, Nvidia converts more than half of its revenue into adjusted profits in a typical quarter, which is just phenomenal. It can easily absorb slightly less profitability on its H20 chips, which, again, account for roughly 15% of its total revenue in a typical quarter. In short, Nvidia stock's strong upward trajectory should not be hurt by the company having to give the government a slice of its H20 sales. Should you invest $1,000 in Nvidia right now? Before you buy stock in Nvidia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nvidia wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,119,863!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 11, 2025 Beth McKenna has positions in Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices and Nvidia. The Motley Fool has a disclosure policy. Nvidia to Pay the U.S. Government 15% of China AI Chip Sales. How Will Its Revenue and Profits Be Impacted? was originally published by The Motley Fool

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store