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TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5
TORONTO, June 8, 2017 /CNW/ - First Global Data ("First Global" or the "Company") is pleased to announce that it signed an agreement with Bohdi Systems Pvt. Ltd. to provide among other things financial services such as micro credit, savings and mobile payments to the disadvantaged and lower income demographic in India.
The service is called DhanMitra and it is currently being implemented on the First Global mobile wallet deployment in India. DhanMitra is an ecosystem comprised of Cooperative and Rural Banks and Micro Finance Institutions. The service will enable First Global customers to access micro credit loans, to withdraw funds from the microfinance accounts, load their mobile wallets, make purchases of eBooks and other eLearning products, access the other services that First Global offers on the mobile platform including payment of bills, etc, and to repay loans.
"This is an important initiative for First Global. We continue to focus on expanding our value-added services portfolio on our mobile platform, while at the same time finding ways to facilitate financial inclusion by utilizing proprietary FINTECH solutions. Financial inclusion is a major mandate of First Global and we will continue to add services and capabilities to those challenged by current banking systems", said Andre Itwaru, Chairman and CEO of First Global.
About Bodhi Systems (www.bodhisystems.org)
Bodhi Systems is an enterprise that leverages technology and applies commercial strategies to maximize improvements in human and environmental well-being. PUBLISHING Bodhi Systems offers seamless transition from traditional publishing to digital publishing. Our software assets have impeccable reputation in the international publishing arena serving large trade publishers, academic publishers and individual authors alike. EDUCATION Bodhi Systems is leading an initiative to deliver a student-centric personalized learning platform based on competency-based education framework. FINANCE Bodhi Systems' offering DhanMitra is a platform that brings financial services such as micro-credit, savings, mobile payments, to disadvantaged and low-income sections of society.
About First Global: (www.firstglobaldata.com)
First Global is an international financial services technology ("FINTECH") 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.
Neither TSX Venture Exchange Inc. ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities offered in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Forward Looking Information:
This news release contains "forward-looking information" within the meaning of applicable securities laws. Although First Global believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because First Global can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. First Global undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of First Global, its securities, or financial or operating results (as applicable). First Global disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
SOURCE First Global Data Limited