Tagged: digital financial services

Gemini Becomes World’s First Digital Assets Custodian and Exchange to Complete SOC 1 Type 2 and SOC 2 Type 2 Examinations

US-based digital assets exchange Gemini has completed SOC 1 Type 2 and SOC 2 Type 2 examinations. The Gemini team noted in a blog post published on January 19, 2021 that they’ve successfully cleared the SOC 1 Type 2 and SOC 2 Type 2 examinations,… Read More

Fintech Division of Grab Secures $300 Million in Capital via Round led by Hanwha Asset Management

Grab Financial Group (GFG), the Fintech services division of Grab, has revealed that it has secured more than $300 million in capital through its Series A investment round – which was led by Hanwha Asset Management Co. Ltd., a South Korea based asset management firm…. Read More

Rizal Commercial Banking Corporation’s Digital Banking Solution, DiskarTech, Is Now Number 1 Fintech App in the Philippines

DiskarTech, which is Rizal Commercial Banking Corporation’s (RCBC) digital banking platform, has become the number 1 finance or Fintech app in the Philippines to have launched services in 2020 across distribution platforms in terms of total downloads, according to App Annie (a provider of analytics… Read More

Financial Infrastructure Developer Banking Circle Reveals that Direct Debit has Facilitated 78 Million Payments, Valued at £1.3 Trillion

Banking Circle, a financial infrastructure developer, reveals that one of the most notable observations from last year was the resilience that so many businesses had shown during the unprecedented socioeconomic uncertainty created by the COVID-19 pandemic. The Banking Circle team has stated that they consider… Read More

Mobile Financial Services Provider Wave Money Facilitated $8.7 Billion in Transfers in 2020, following COVID-19 Outbreak

Myanmar-based Wave Money, a mobile financial services provider, facilitated 12 trillion Myanmar kyat (appr. $ 8.7 billion) in total transactions during 2020 as the country’s residents increasingly began using digital financial services following the COVID-19 outbreak. Wave Money confirmed that these transaction volumes were nearly… Read More

Embedded and Bundled Financial Services are Increasingly Being Offered by Fintech Platforms, Industry Professionals Reveal

Sophie Guibaud, Chief Growth Officer at OpenPayd, a UK-headquartered API-based Banking-as-a-Service (BaaS) provider, notes that Fintech and other industries have had an “extraordinary” 2020. She pointed out that major scandals (like Wirecard) have “rocked the industry,” however, we’ve also seen significant progress that should help… Read More

Digital Financial Services in Egypt are Still Not Widely Adopted but May Grow Steadily, Fintech Entrepreneur Reveals

Many more Egyptians are now using online or all-digital platforms and services, and the nation’s government is planning to support the Fintech sector so that it can enhance the local economy. Saeed Talaat, an Egyptian citizen who had been working at a bank in Dubai,… Read More

US Consumer Fintech Varo Money Aims to Enable Financial Inclusion, According to Chief Risk Officer Philippa Girling

Varo Money, Inc., the first consumer Fintech in the US to become a chartered national bank, recently explained how they’re building a better banking platform. Philippa Girling, Chief Risk Officer at Varo Money, noted that she’d been working in the banking industry for the past… Read More

Fintech Lending Apps are Increasingly Using AI and Machine Learning to Accurately Determine Borrower’s Creditworthiness, According to Researchers

The financial sector is undergoing major technological advancements and changes. Traditional banking institutions now face a lot of competition from online or digital startups that have no physical branches. Social media and other online platforms are branching out into payments and credit. The rise in… Read More

NEC Completes Acquisition of Swiss Financial Software Firm Avaloq

Avaloq, an international fintech providing services and digital solutions to banks and wealth managers, announced earlier this week the closing of NEC’s acquisition of Avaloq. As previously reported, the acquisition was announced in October and NEC purchased Avaloq for around 2.05 billion Swiss francs. Founded… Read More

Fintech Sector in Brunei Is Growing Steadily as Demand for Remittance Services and Better Credit Solutions Rises: Report

Fintech

Brunei’s Fintech sector continues to grow steadily due to the rising demand for digital financial services and its government’s push to encourage its residents to use modern payment methods. Brunei has the second-highest (after Singapore) human development index or HDI (which measures the overall quality… Read More

Fintech has Become a Growth Catalyst for Ping An’s Tech Division OneConnect, According to Company CEO Ye Wangchun

Fintech has transitioned from the innovation and early development stages of OneConnect’s financial services offering to becoming its catalyst of business growth, according to Ye Wangchun, Chairperson and CEO of OneConnect Financial Technology Co., Ltd. (NYSE: OCFT). Ye‘s recent comments came during the fourth annual… Read More

Indonesian Tech Giant Gojek has Reportedly Paid Nearly $160 Million for Shares in Indonesian Bank Jago as Part of Major Fintech Deal

Indonesian tech giant has reportedly paid around $159.5 million for shares in an Indonesian bank (PT Bank Jago) – which is part of a major Fintech deal. Gojek is competing with ride-hailing app provider Grab which is also focused on establishing regional Fintech services. Gojek… Read More

Omar Arab: EVP of Corporate Business at VeriTran Explains how Low-Code Platforms Help Deploy Seamless Fintech Applications

We recently connected with Omar Arab, EVP of Corporate Business at VeriTran, a leading low-code platform provider for enterprises. Arab talked about how low-code solutions make it easier for everyone, including non-programmers, to create applications for a wide variety of use cases – including banking… Read More

Wahed Inc, an Islamic Fintech backed by Saudi Aramco, to Acquire UK-based Digital Banking Startup

US-based Wahed Inc, an Islamic-finance Fintech firm that’s backed by Saudi Aramco, is reportedly planning to acquire Niyah Ltd, a UK company that operates a digital banking platform for the Muslim community. Wahed’s management noted that they’re hoping the acquisition will allow them to offer… Read More

Fintech and Regtech Adoption Takes Major Step Forward in 2020 As Businesses Prepare for Post COVID Environment: Report

  The year 2020 has seen a dramatic shift towards all-digital platforms and services following the COVID-19 outbreak. Many businesses across the globe have accelerated their digital transformation strategies in order to maintain operations in a post-COVID environment. By necessity and also by design, companies… Read More

Amsterdam based Backbase, a Fintech Software Provider, Chosen by UNOBank to Offer Engagement Banking Platform

Amsterdam-based Backbase, a Fintech software provider that “empowers” financial institutions to accelerate their digital transformation strategies in order to compete in a digital-first world, has been chosen by DigiBankASIA to provide its “full-stack” online engagement banking platform solution for its virtual bank UNO. Backbase will… Read More

There are Now 123 Fintech Startups in Vietnam and Over 4.2 Million Digital Wallet Users: Report

Vietnam’s Fintech startup ecosystem has grown significantly between 2017 and 2020, according to a new report. There were 44 Fintech-related startups in the country in 2017 and now there are at least 123 financial technology firms, Fintech News Singapore confirmed. The number of Fintechs operating… Read More

Singapore’s Propine, a Regulated Digital Asset Custodian, Partners Skyhook Capital, a Fintech SaaS Platform

Singapore-based Propine, an independent and regulated digital asset custodian, has partnered with Skyhook Capital, the Singapore-headquartered Fintech (software-as-a-service) SaaS platform that offers access to digital securities that may be incorporated within investors’ traditional wealth portfolios. According to a release shared with Crowdfund Insider, the partnership… Read More

63% of European Consumers Abandoned their Financial Applications due to Difficult Onboarding Process: Survey

Signicat, the trusted digital identity firm, has shared new research which reveals that 63% of European consumers have abandoned financial applications during the past year. Signicat’s survey was carried out in May and June 2020 which was during the Europe-wide COVID-19 lockdowns or restrictions. The… Read More

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