Finablr Group News Today

Financial technology firm Wizz Financial said on Thursday the United Arab Emirates central bank had approved its acquisition of currency firm UAE Exchange, a unit of troubled London-listed payment firm Finablr which Wizz agreed to buy last year.

Matrix International picked for financial compliance and fraud prevention

Prism, RSP appoint Matrix for financial compliance at Finablr ABU DHABI, February 8, 2021 The consortium of Prism Group and Abu Dhabi’s Royal Strategic Partners (RSP) has appointed technology solutions firm Matrix International Financial Services to advise on financial compliance and fraud prevention measures at Finablr and its subsidiaries. Matrix is one of the world’s leading specialists in providing business and technology solutions for the complex needs of the global financial indust...

Prism Groups Swiss subsidiary Global Fintech Investments and Abu Dhabis Royal Strategic Partners signed a share purchase agreement to buy Finablr, which is listed on the London Stock Exchange, in December. Finablr, whose companies include the UAE Exchange, Xpress Money, Bayan Pay, Remit2India and Unimoni brands, is being restructured after the group reported undiscovered liabilities in May last year that mean its debts were $1 billion higher than the $334 million reported in its last filed acco...

Finablr relaunch plan gains traction issacjohn@khaleejtimes.com Filed on February 8, 2021 The appointment of Matrix is another significant move in consortium’s plan to recapitalise, restructure and rebuild Finablr The UAE-Israeli consortium, which has acquired the troubled Finablr for $1, said on Monday that steps to recapitalize and revive the debt-ridden global payments solutions group gained momentum with the appointment of Matrix International Financial Services as adviser on ...

UAE Exchange, Xpress Money will restart operations soon issacjohn@khaleejtimes.com Filed on January 24, 2021 | Last updated on January 25, 2021 at 06.20 am The appointment of the advisor represents a significant milestone in the consortium’s plan to recapitalise Finablr on behalf of its customers, employees and stakeholders, the consortium said in a statement. — File photo The Prism-RSP consortium said the investment bank would advise them on the restructuring and transformation...

Prism formed a consortium with RSP to complete the purchase of the group at the end of last year.

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The Prism-RSP consortium said the investment bank would advise them on the restructuring and transformation of Finablr Ltd and its subsidiaries.

The acquisition will enable acquisitions to restart and secure the future of the group, which is a major provider of cross border financial services in ...