NTT Com to Invest in Fintech Startup M-DAQ
For Creating a World with Home Currency Payment Anywhere Anytime
NTT Communications Corporation (NTT Com), the ICT solutions and international communications business within the NTT Group , announced that it has invested in M-DAQ Pte Ltd (M-DAQ), a Singapore-based fintech startup.
NTT Communications solves the world’s technology challenges by helping enterprises overcome complexity and risk in their ICT environments with managed IT infrastructure solutions. These solutions are backed by our worldwide infrastructure, including industry leading, global tier-1 public and private networks reaching over 190 countries/regions, and more than 450,000m2 of the world’s most advanced data center facilities. Our global professional services teams provide consultation and architecture for the resiliency and security required for your business success, and our scale and global capabilities in technology world are unsurpassed
M-DAQ and its team of foreign exchange (FX) specialists aim to realize a world without currency borders. The company’s strengths include its one-of-a-kind service that provides guaranteed competitive FX rates built upon a proprietary predictive demand-based algorithm.
With this strategic partnership with M-DAQ, NTT Com will launch Home Currency Anywhere (HCA), Japan’s first rate-guaranteed FX information and transaction data service, around the end of this November. HCA is a service that enables foreign currency conversion at a guaranteed rate. This is supplied on NTT Com’s smart data platform environment, integrated with M-DAQ‘s FX engine. This gives users price certainty in the currency of their choice prior to purchasing goods and services overseas.
NTT Com aims to collaborate with companies that use HCA to realize a world where service providers and customers can conduct transactions without worrying about currency fluctuations, including through platform services that connect eWallet operators around the world on a cross-border basis.
M-DAQ builds over-the-top (OTT) applications to facilitate cross-border solutions for multinationals, securities exchanges, financial intermediaries, e-commerce platforms and payment gateways, along with market segments previously ignored by legacy financial institutions. Since 2016, M-DAQ has helped businesses and their customers save more than SGD 120 million on cross-border transactions.