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FIRST GLOBAL ESTABLISHES PAYQWIK FINTECH LABS

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Mr. Andre Itwaru reports

FIRST GLOBAL ESTABLISHES PAYQWIK FINTECH LABS

First Global Data Ltd. has established PayQwik FINTECH Labs.

The intent of the lab is to create innovation and disruption in the financial technology space. The lab will provide a sandbox environment to explore new fintech ideas in areas including but not limited to cybersecurity, network risk management and electronic currencies with the objective of building a Darwinian ecosystem that thrives in a competitive environment.

PayQwik FINTECH Labs will also focus on patenting the innovative technology that the company has developed and is developing. To this end, the company has engaged an intellectual property consultant with an extensive record in the patent space.

The company is pleased to announce the appointment of Bobby Athwal as its intellectual property management and strategy consultant and member of its advisory board.

Mr. Athwal is a business and technology attorney with experience in engineering and intellectual property law. Specializing in implementing IP management and strategy, Mr. Athwal has worked closely with both early-stage and Fortune 500 tech companies, advising on securing and enforcing patent rights both domestically and abroad. Mr. Athwal has experience in cloud computing, technology-based financial service industries. Mr. Athwal has developed close relations with some of the largest telco’s in Southeast Asia and successfully brokered a number of joint venture’s between Canadian and Southeast Asian companies, particularly in Malaysia and Singapore. Mr. Athwal will focus on protecting the company’s core technologies to drive profit, improve market position and create new long-term revenue streams for the company.

Mr. Athwal commented: “First Global Data is pioneering the evolution of mobile payments and commerce. FGD’s strong business model, built on a foundational patent portfolio, will be a driver for valuation, with the quality of the underlying technology driving entirely new market opportunities.”

“The establishment of PayQwik FINTECH Labs is a significant milestone for our company. Our industry-leading technology platform continues to evolve and we have developed unique features which we intend to patent. The time has come to turbocharge our evolution with relevant and sophisticated IP. Our goal is to create a portfolio of patents that add significant enterprise value as we march toward achieving our vision of establishing a global interoperable and portable mobile wallet. Fintech is evolving at a rapid pace and we want to ensure that First Global is the vanguard. The addition of Bobby Athwal is an important step toward achieving our objectives for PayQwik FINTECH Labs,” said Andre Itwaru, chairman and chief executive officer of First Global.

About First Global Data Ltd.

First Global is an international financial services technology 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.

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