Tagged: digital financial services

Scott Stuart from Kava Labs Explains how Venture Backed Firm Is Creating Decentralized Financial Services

Scott Stuart, Product Manager at Kava Labs Inc, a venture-backed firm focused on payments and blockchain technologies, notes that at Kava, their goals include developing a user-friendly decentralized financial services platform. Stuart claims that a lot of the core infrastructure and “decentralized” community governance for… Read More

Michael Rennie: Product Manager at Mendix Explains How Low-Code Addresses Developer Talent Shortage, Delivers on Desired Business Outcomes

We recently connected with Michael Rennie, a U.K.-based product manager for Mendix, a Siemens business and the global leader in enterprise low-code. Mendix pioneered the low-code product category 15 years ago. The low-code approach addresses the coder crunch, the growing demand for software applications, and… Read More

Money Management: Bank of America to Offer New Tool for Setting and Keeping Track of Financial Goals

Bank of America or BoA (NYSE: BAC) has introduced a digital tool, called Life Plan, which aims to help clients with setting and keeping track of their financial goals. The new tool is now available through the BofA’s digital banking app and official website. Life… Read More

NEC Corp. Acquires Swiss Financial Software Firm, Avaloq, for Estimated 2 Billion CHF

NEC Corporation (TSE: 6701) revealed on October 5, 2020, that it has acquired the Avaloq Group AG, a major Swiss financial software firm. The Avaloq acquisition has been made so that NEC can use its digital finance software and industry knowledge as it makes plans… Read More

Southeast Asian Countries are Increasingly Adopting Digital Payments, but Regulatory Issues May Slow Adoption, Fintech Exec Argues

Fady Abdel-Nour, Head of Global M&A and Investments at PayU, a Fintech firm that provides payment technology to online merchants, has noted that regulators in Southeast Asia are working hard to ensure that digital payments are adopted by consumers. Abdel-Nour has pointed out that UPI,… Read More

Digital Financial Services Firm Konfio Obtains $58.8 Million Credit Line to Help Mexican Women Access Financing Options

For the first time ever (in September 2019), giant Wall Street investment bank Goldman Sachs’ (NYSE:GS) structured finance division provided a $100 million secured credit facility to Mexico-based Fintech startup Konfio Ltd. As reported last year, the funds were to be directed toward Konfio’s business… Read More

Fintech Plaid CEO: There’s Been a “Meaningful Increase” in Number of Consumers Using Digital Financial Apps during COVID-19 Crisis

Zachary Perret, CEO at Plaid, a San Francisco-based Fintech firm, says that there have been significant changes in the digital financial services sector during the past 6 months. He confirms that there’s been a major shift in consumer behavior with more consumers preferring to use… Read More

Low Financial Literacy Is a Major Challenge Keeping Rural Area Residents in Indonesia from Accessing Modern Fintech Services

Industry professionals in Indonesia are calling on Fintech firms to expand their operations outside of Java and partner up with the nation’s government in order to cater to the requirements of the unbanked population. Only 23% of Fintech firms in the country have a reach… Read More

Global Digital Banking Market Continues to Grow Rapidly, as Associated Bank Shuts Down Many Physical Branches to Focus on Online Services

The global market for digital banking is expected to reach $22.3 billion within the next five years. It will be driven by the increasing number of Internet users who regularly use smartphones, mobile internet connections, and prefer to use platforms that offer convenient payment methods…. Read More

Consumer focused Fintech Apps have Acquired More Funding from European Investors, compared to Other Market Segments: Report

European Fintech firms have managed to secure substantial funding, even during the lockdown period that came after the COVID-19 outbreak. They’ve acquired about €2.86 billion (appr. $3.4 billion) in capital between March and mid-August 2020, according to the latest data from Dealroom. There was a… Read More

Indonesia’s Rapidly Expanding Fintech Sector May Create New Opportunities for Switzerland based Businesses: Report

Indonesia has a population of around 270 million residents, and most of these people are underbanked or financially underserved. Businesses in the fast-growing economy also don’t yet have access to modern financial services, like the kind we’d typically find in many of the developed Western… Read More

European Central Bank Warns Against Potential Threat of Dominance of Big Tech in Financial and Cloud Services

The European Central Bank (ECB), the reserve bank of the Eurozone, which is a monetary union of 19 EU member states which employ the Euro, has noted that there doesn’t seem to be an EU challenger that’s capable of matching the capabilities of Big Tech… Read More

Over 240 Fintech Firms Operating in Indonesia, a Leading Southeast Asian and Global Economy: Report

Indonesia, which has one of the largest economies in Southeast Asia and also ranked high globally, has emerged as a fast-growing Fintech hub. It’s estimated that in the next five years, digital financial services revenues in Indonesia will reach $8.6 billion, meaning they’re increasing at… Read More

Digital Payments Services are “Evolving” into Marketplace Lending Platforms: Report

The global COVID-19 outbreak has created many challenges as individuals and businesses have to get used to observing safe distancing measures and make changes to their lifestyle – which may include working from home. According to a recent blog post published by the International Monetary… Read More

Largest Life Insurance Company in Singapore and Malaysia to Invest $70 Million in Axiata Digital’s Fintech Expanasion Plans

GREAT Eastern (Life Assurance), the largest life insurance company in Singapore and Malaysia, will be investing $70 million into Axiata Digital’s financial services business, in order to take part in the company’s Fintech-focused plans, according to Khor Hock Seng, group CEO at Great Eastern. The… Read More

Philippines based Digital Financial Services Firm Ayannah Merges with Indian Payments Company Equity Capital Advisors

Philippines based Ayannah, an online financial services provider, and India’s payments firm Equity Capital Advisors (ECAPS) have merged their operations in order to provide cost-effective and more accessible financial services to South Asia and Southeast Asia’s growing middle-class population. The merged entity will aim to… Read More

Standard Chartered Bank’s India Division Launches All-Digital Financial Services During COVID-19 Crisis

Standard Chartered Bank has introduced a wide range of self-service requests for customers based in India. The new services will be available via the Standard Chartered Mobile app and through the institution’s online banking portal. Standard Chartered bank’s customers in India will now be able… Read More

Bill and Melinda Gates Backed Project: U Microfinance Bank and Karandaaz Pakistan to Help Women Gain Access to Modern Financial Services

U Microfinance Bank Ltd., a wholly-owned subsidiary of Pakistan Telecommunication Company Limited (PTCL) – Etisalat Company, has reportedly signed a grant agreement with Karandaaz Pakistan, a company that aims to promote improved access to finance for small business owners via an investment platform, and financial… Read More

Report: Southeast Asia’s Growing Internet Economy Is Driving Fintech Adoption

Southeast Asia’s internet and e-commerce economy is growing steadily due to the widespread use of mobile phones. The region’s middle class has also been growing, according to a recent report compiled by Google, Temasek and Bain & Company. Published earlier this month, the e-Conomy SEA… Read More

Wirecard Announces Strategic Partnership With CreditPilot to Drive Digital Financial Services to Mobile Network Operators & Retailers

Germany-based global provider of digital payments and commerce solutions Wirecard announced on Thursday it has formed a new partnership with banking and B2B2C-focused fintech CreditPilot to continue growth and development of digital financial services for mobile network operators and retailers. According to Wirecard, CreditPilot will incorporate… Read More

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