Randy Khalaf joins XTM Board of Directors

Karthik Subramanian

XTM Inc.,  a Canada-based company that specialises in neo-banking services, has announced that Randy Khalaf has joined its Board of Directors as a replacement for Paul Huber who had resigned from the Board.

Mr. Khalaf has over 2 decades of experience in the Capital Market Industry and had previously worked at Novus International as the Chief Financial and Enterprise Systems officer. He comes in with a huge wealth of experience and he would chair the Audit Committee.

XTM is a digital bank that basically has no branches. A neobank does all its operations online including the opening of accounts. This is done for the convenience of users who can perform all banking operations online and these are done in a smooth and easy manner.

Neobanking services have been gaining in reputation over the last couple of years especially due to the pandemic as users are basically shut at home due to the lockdowns in different parts of the world and they are now ready to start doing as many operations online as possible. Even those who were reluctant to perform transactions online earlier due to security issues, have now started coming online more and more and are now attracted by the ease and convenience.

Mr. Khalaf has been recognised for his business acumen and helping his companies grow their bottom line and EBITDA and overseeing operations of the companies that we have worked in.

“We welcome Randy to the Board and look forward to his participation,” said Marilyn Schaffer, CEO. “With our US expansion well underway and our current focus on the US market, Randy will bring a tremendous amount of financial experience and leadership to the audit and compliance side of the board as well as providing valuable guidance navigating our rapid growth and expansion plans.”

Neobanking is expected to grow exponentially in the coming months and the digital payments industry is also expected to enjoy a buoyant period. This is the reason why we are seeing a lot of changes and upgrades in almost all neo banking and digital payment companies as they upgrade their infrastructure and their management teams to make full use of this growth period and capture as much of the market as they can.

These companies are not only upgrading their websites but are also focussing their efforts on building and upgrading their mobile apps as well as the population becomes younger and younger and this new generation of users are expected to use their mobiles more than their laptops or desktops.

 

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading

Technology

DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.

<