India – August 12^th, 2024 — Nium, the global leader in real-time cross-border payments, has been named to the prestigious ‘World’s Top Fintech Companies 2024’ list by CNBC. This follows a year of unprecedented growth for Nium with significant new customers, global licenses, and funding announced over the last 12 months.

Global cross-border payment flows are projected to skyrocket from USD 190 trillion in 2023 to USD 290 trillion by 2030. Yet many banks, financial institutions, and businesses remain dependent on slow, expensive, and outdated cross-border payment systems, slowing down growth and the ability to meet customer demand.

“Nium’s inclusion in the list reinforces our standing as a leader in the global fintech ecosystem, leveraging innovative technology to make cross-border payments faster, cheaper, and more reliable for businesses around the world,” said Prajit Nanu, Nium’s founder and CEO.

“This recognition is a testament to our team’s continued hard work. I want to take this opportunity to thank every one of my colleagues for their part to play in establishing a world-class global payments network and delivering an outstanding service to our customers as we continue to scale globally,’ he adds.

In June this year, the fintech announced it had raised USD 50 million in a Series E funding round led by a sovereign wealth fund in Southeast Asia to fuel global network expansion, accelerate product innovation, hire top talent, and pursue M&A activity.

Since the start of the year, Nium has announced new regulatory licenses in Japan and New Zealand, as well as a number of significant new customers including Air France KLM, Remote, and Emirates NBD as it continues to expand its offering in the travel, payroll, marketplace, and spend management industries.

The World’s Top Fintech Companies 2024 is based on the analysis and weighting of overarching and segment specific KPIs, derived from the collection of over 20,000 data points from publicly available and self-reported sources across 2,000 companies. The companies with the highest score within their market segment were awarded as World’s Top Fintech Companies. A total of 250 companies were awarded across eight market segments.

CNBC teamed up with independent market research firm Statista to compile the second edition of the list, published on July 10th on cnbc.com.

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In the event, the Union Minister is expected to make announcement focusing upon boosting the realty and export sectors, the CNBC has reported, quoting sources. She is likely to announce sector-specific solutions as well as broad-based relief measures, it said.

According to the report, Finance ministry officials made a detailed presentation of the measures to be announced to the Prime Minister’s office on September 13. The current round of measures have convinced the PMO, which feels that the measures will boost sentiment and current economic situation, the report added.

The economic growth hit a six-year low of 5 percent for the first quarter of the current fiscal and the government has announced a slew of measures to reinvigorate the sagging growth.

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In recent weeks, the government has announced a slew of economic measures including the mega bank mergers, withdrawal of higher surcharge on Foreign portfolio investments (FPIs) and domestic investors, sops for infrastructure, revival package for the auto industry and relief for startups.

Another major event to watch out for is the GST Council meeting next week in Goa. The Centre is expected to announce the Goods and Services Tax (GST) rate for the auto beleaguered industry from the highest tax slab of 28 percent to 18 percent.

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