Press

WAIV

March 9, 2017
11:58 pm

Australian FinTech Company WAIV Provides Payment Platform for Reparations to Victims in the Wake of the Colombian Civil War

WAIV is partnering with Medsis and an arm of the Colombian Government, La Unidad Para Las Victimas (Victims Unit), to provide a platform for the distribution of reparations to victims of the Colombian civil war. The program is expected to distribute approximately 1.2 trillion Pesos ($530 million AUD) per year for ten years to these victims, for a total of 12 trillion Pesos ($5.3 billion AUD).

WAIV is a financial technology company that has created a payment platform for faster, safer, and cheaper international and domestic money transfers.

8 million people have been displaced by the internal conflict in Colombia. A peace agreement between the Colombian Government and FARC was signed in November 2016, and formally ratified in December 2016, ending the war which began in 1956.

“It’s gratifying to see that Australian payment technology is being utilised by governments around the world,” John Fenga, CEO of WAIV, said. “In the aftermath of war, WAIV is proud to provide a financial bridge to the victims of the Colombian civil war.”

Medsis are donating the use of their database technology, CEREBRO, to convert all existing databases into a single, unified civilian registry. Alongside OrangeHook, who specialize in identification authentication, the identities and transactions of all registered victims can be verified and stored securely.

“This historic project, to help heal the nation of Colombia, is exactly what Medsis was designed for,” Dax Cabrera, CEO of Medsis said. “The vision of Colombia and of Director Alan Jara to provide humanitarian aid throughout Colombia is so important, and is in alignment with the global goals of Medsis.”

The Executive Director of the Victims Unit, Alan Jara, spent seven years kidnapped by FARC. Jara is the Governor of the Department of Meta, Colombia and, following his release in 2009 and reinstatement into politics, was named Director of the program.

The Players

The Victims Unit (unidadvictimas.gov.co) is a branch of the Colombian Government whose objective is to help and integrally repair the victims of war, with the objective of completing social inclusion and reparation of all victims for the year 2021.

WAIV (waivcard.com) is an international technology company who provide a global payment system, designed to make online banking safer, faster, and cheaper. Their aim is to increase financial inclusion for the 2 billion unbanked people worldwide.

Medsis (medsis.com) is an international information technology company that provides platforms for data management, integration, consolidation and analysis. Their systems are designed to operate in environments with volatile infrastructure such as remote, rural and conflict areas.

OrangeHook (orangehook.com) is a global leader in identity solutions. Through its suite of proprietary technologies, OrangeHook helps health, government, and corporate entities with cloud-based validation, accreditation, and verification services.

Take–aways

  1. WAIV’s key philosophy is to give back and to take corporate responsibility wherever we do business. We want to make a difference.
  2. Allows the people of Colombia to join WAIV’s global network, and have more access to domestic and international remittance. We want to think globally while acting locally.
  3. Strengthens the relationship between Australia and the countries of Latin America to form a technological and financial bridge in this new connected world.

Full Press Release 

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“Being different is how you change the world. And we want to change the world.”John Fenga, CEO, WAIV