Singapore FINtech startup "InstaRem"

[ObservantOne]

After reading this article, my understanding is that these guys are competitors, targeting small banks.

 

 http://tech.economictimes.indiatimes.com/news/startups/singapore-startup-instarem-with-indian-cofounder-raises-13-million/59439850

[Bagheera]

22 minutes ago, ObservantOne said:

After reading this article, my understanding is that these guys are competitors, targeting small banks.

 

 http://tech.economictimes.indiatimes.com/news/startups/singapore-startup-instarem-with-indian-cofounder-raises-13-million/59439850

In my 30 years in the industry I can vouch for one thing. Make up a fictitious name of something that does not or has never existed. For example, "the Phoenix Ledger" block chain solution. Then contact several main stream Asian off-shore 3rd party service providers and ask them if they are aware of and can support/implement that specific solution. Hands down they will reply "we have a global practice implementing and supporting the "Phoenix Ledger" block chain solution AND we have a bench strength of 5000 trained experts in that technology to deploy as your business requires...

[ObservantOne]

2 minutes ago, Bagheera said:

In my 30 years in the industry I can vouch for one thing. Make up a fictitious name of something that does not or has never existed. For example, "the Phoenix Ledger" block chain solution. Then contact several main stream Asian off-shore 3rd party service providers and ask them if they are aware of and can support/implement that specific solution. Hands down they will reply "we have a global practice implementing and supporting the "Phoenix Ledger" block chain solution AND we have a bench strength of 5000 trained experts in that technology to deploy as your business requires...

Soooo, what you are saying is...they do not "really exist"? They raised ~$13M...just like an I..C.Ooooh. I get it.

[natethesnake]

6 minutes ago, Bagheera said:

In my 30 years in the industry I can vouch for one thing. Make up a fictitious name of something that does not or has never existed. For example, "the Phoenix Ledger" block chain solution. Then contact several main stream Asian off-shore 3rd party service providers and ask them if they are aware of and can support/implement that specific solution. Hands down they will reply "we have a global practice implementing and supporting the "Phoenix Ledger" block chain solution AND we have a bench strength of 5000 trained experts in that technology to deploy as your business requires...

The amount of deception that goes on in the IT industry is just amazing. Companies from India and China are so guilty of this.

[mulder]

is this working with ripple backend ??

[Xrphunter]

I dont trust the owner of this 'InstaRem' 

[natethesnake]

Noticed the following:

"We complete transfers in 1-2 business days and process refunds in 72 hours"

That's still a 24-48 hr window for transfers, and 3 days for refunds! Too slow!!!