Oct 23, 2024

TaxBit wins Finance Technology Award at the Global FinTech Awards 2024 TaxBit has won the Finance Technology Award at The Global FinTech Awards 2024. TaxBit is a fintech leader revolutionising digital asset tax and accounting compliance through its advanced platform, simplifying complex financial operations for both enterprises and individuals. As cryptocurrencies and digital assets attract more users globally, TaxBit addresses the growing regulatory and reporting demands with a scalable, automated solution. The platform streamlines data ingestion, calculation and reporting, integrating seamlessly into broader financial systems, making it a preferred partner for major companies like Google, PayPal and Fidelity. One of the key features of TaxBit’s platform is its real-time tax information calculations and comprehensive reporting capabilities, including 1099 forms, W9s and compliance with emerging regulatory frameworks like DAC7 and CESOP. By leveraging direct API integration, the platform automates traditionally manual processes, ensuring data consistency and eliminating inefficiencies. Neil Perry, Stage Host and Group Broadcast Director at BizClik Its AI-based rules engine and audit-ready reporting also offer enterprise-grade compliance, making it a vital tool for businesses navigating the digital finance space. Uphold, a global multi-asset trading platform, reduced operational overheads significantly through TaxBit, automating over 1.5 million TIN matches and validating nearly 500,000 W9s in three months. TaxBit’s approach to security is rooted in rigorous internal controls, data encryption and SOC1 and SOC2 certifications. Sensitive information is protected by limiting the data collected to what is necessary, ensuring that no personally identifiable information is stored in its systems. This commitment to security, combined with proactive compliance solutions, has positioned TaxBit as a crucial player in the digital finance ecosystem. By staying ahead of regulatory changes, including new FASB guidance, TaxBit continues to drive digital transformation. The company’s public sector work, which began with a US tax agency pilot, has further solidified its role in shaping the future of regulatory compliance in digital finance. The awards Launched in 2024, The Global FinTech Awards 2024 debuted at FinTech LIVE London Global Summit 2024. Across 14 categories, the awards celebrated those companies, professionals and projects that consistently ensure that excellence and innovation lie at the forefront of their work. The awards set a benchmark for excellence across the industry and drive innovation in payment technology, digital banking, fraud verification and more. “It was an honour to spotlight such a wide range of incredible companies at the inaugural FinTech Awards,” said Glen White, CEO of BizClik, FinTech Magazine. “At a time where digital inclusion and easy access to finance is crucial for fostering economic growth, reducing poverty, and promoting social equity, it is important to celebrate the success of those in the fintech industry that are revolutionising traditional financial services through the integration of technology. Glen White, CEO of BizClik “To host the awards during FinTech LIVE London is an incredible moment for the sector to celebrate, we encourage many more companies to enter our awards for 2025. “Thanks to every company that entered - it's important that you stay focused, motivated and continuously innovate and I am excited to see so much more of Generative AI when we meet again in a year’s time. And a big congratulations to every company who entered, those that are highly commended and of course to our 14 winners – we appreciate your input more than you know.” The Finance Technology Award The Finance Technology Award recognises companies that showcase excellence in leveraging technology to transform and innovate the finance industry. How does your technology enhance efficiency and scalability in financial operations and transactions? What innovative features or functionalities does your technology offer to streamline financial processes? How does your technology ensure robust security measures to protect sensitive financial information? How does your technology leverage emerging trends to drive digital transformation and industry advancements? Shortlisted companies included- Highly Commended: Verto & Lenderwize Verto and Lenderwize are both transforming financial operations through innovative fintech solutions, enhancing efficiency, scalability and security in the global payments landscape. Verto offers a comprehensive cross-border payment platform that supports over 200 countries and 49 currencies, empowering businesses to streamline their international transactions. The platform’s multi-currency wallet allows users to manage up to 51 currencies, simplifying global payments and reducing the need for multiple banking partners. Verto's AI-powered solutions automate transaction processes and optimise workflows, leading to faster, cost-effective payments. The introduction of the Verto WhatsApp Bot further enhances user accessibility, providing real-time currency exchange rates directly via WhatsApp. This integration of AI and conversational interfaces streamlines currency conversions, making global payments frictionless for businesses of all sizes. With a focus on security, Verto adheres to the highest international standards, safeguarding funds in designated accounts and ensuring compliance with Financial Conduct Authority (FCA) regulations. Lenderwize takes financial technology to the next level with its fully embedded fintech and paytech solution, providing real-time reconciliation of invoice purchases and payments. By integrating inbound and outbound payments, the platform eliminates manual processes, significantly reducing errors and delays. Lenderwize employs advanced AI and machine learning for real-time fraud detection and risk management, automating these processes to enhance both speed and security. Additionally, its use of smart contracts ensures transparent, immutable transactions, streamlining operations and reducing costs. With an API-first architecture, Lenderwize is designed for scalability and adaptability, enabling seamless integration with third-party services and emerging payment methods. This approach allows businesses to scale efficiently while maintaining precise financial control. Both Verto and Lenderwize exemplify how fintech innovations can transform global financial operations, enhancing efficiency, security and scalability while adapting to the evolving needs of the digital economy. The Global FinTech Awards 2024 Thanks to our esteemed panel of industry leaders who judged the awards: Stephen Roche, President and Co-Founder of Saphyre Nick Levy, Partner at IBM Consulting Daniel Yubi, Chief Executive Officer at Payable Jaideep Pawar, Founder & CEO of GRAMePAY Steve Suarez, External Advisor at Bain & Company Georgios Samakovitis, Professor of FinTech at University of Greenwich David Palmer, Blockchain Lead Vodafone Business IoT at Vodafone Business Russell Fisher, COO Admiral Pioneer at Admiral Group Jsmeet Narang, Chief Transformation Officer and Director of Financial Crime at Santander The full list of awards categories for 2024 is: Digital Banking Award Project of the Year Award Lifetime Achievement Award