Tagged: digital financial services

Grab Targets Group Adjusted EBITDA Breakeven by H2 2024 as it Focuses on Profitability

Grab Holdings Limited (NASDAQ: GRAB) announced at its first Investor Day that it is targeting to achieve breakeven on a Group Adjusted EBITDA basis “by the second half of 2024, as it accelerates its path to profitability.” For the second half of 2022, Group Adjusted… Read More

Fintech Galaxy Brings Open Finance Experience to MENA region

Fintech Galaxy, which claims to be one of the industry-leading financial innovation companies, has announced the addition of a team of global Open Banking/Finance experts “as it looks to ramp up its product offering and presence across the MENA region.” Appointments reportedly “include Salt Edge’s… Read More

DARPA Introduces Crypto Project with Inca Digital

The Defense Advanced Research Projects Agency (DARPA) has awarded Inca Digital‘s government contracting division, Inca Digital Federal, a Phase II Small Business Innovation Research (SBIR) contract “to research advanced methods for analyzing activity related to financial applications of distributed ledgers in a project called: ‘Mapping… Read More

GoCardless Introduces Open Banking-powered Feature in France

GoCardless, a provider of direct bank payment solutions, has launched Verified Mandates in France. Part of the GoCardless global ‘bank payment’ platform, Verified Mandates “combines the Account Information Services (AIS) capabilities of open banking with bank debit to stop fraud before it happens.” This represents… Read More

Neobank Revolut Security Breach Exposes Data of 50,000+ Clients Worldwide

Revolut has experienced a major data breach that has reportedly exposed the sensitive personal details of around 50,000 clients globally. Revolut‘s management has now informed Lithuania’s State Data Protection Inspectorate about the security breach, noting that access to its database had been obtained via advanced… Read More

Brazil’s C6 Bank Introduces Carbon, a New Financial Service for High-Income Clients

After reaching the milestone of 20 million accounts opened, Brazil’s C6 Bank has introduced  an “exclusive” service aimed at the high-income segment. Called Carbon, the new service is free of charge and has a new proposal at the bank: the Carbon Partner, a specialized executive… Read More

Singapore: MAS Releases Financial Services Industry Transformation Map 2025

Lawrence Wong, Deputy Prime Minister and Minster for Finance, and Monetary Authority of Singapore (MAS) Deputy Chairman, launched the Financial Services Industry Transformation Map (ITM) 2025. The ITM 2025 lays out the growth strategies “to further develop Singapore as a leading international financial centre in… Read More

Central Bank of Egypt Selects Acumen.plus, the Treasury Platform for Compliance, Automation

Profile Software, which claims to be a leading financial solutions provider, has announced that the Central Bank of Egypt (CBE) has selected Acumen.plus, the internationally implemented Treasury Management System, “to effectively manage and streamline their operations whilst experiencing compliance and powerful reporting for reserve and… Read More

Digital Banking: Wio Bank PJSC Launches in the UAE

Wio Bank PJSC announced its official launch in the UAE, “becoming the first platform bank in the region, aiming to transform banking operating models towards a more digital future.” This is in line with the UAE’s Digital Economy Strategy that aims “to double the contribution… Read More

Cross Border Payments Still Costly and Slow, Remain Major Pain Point, Report Reveals

For businesses operating in different jurisdictions, the cost and delays associated with FX and cross-border payments “remain a major pain point,” according to an update from Banking Circle. Banking Circle‘s study into SME attitudes to banking services “revealed that 42% of respondents thought their bank’s… Read More

Wise Platform Introduces Integration Solution, International Receive

Wise Platform (LSE:WISE) recently launched their newest integration solution, International Receive. As noted in a blog post, customers at partner organizations using International Receive will be able “to quickly, easily and affordably receive cross-border payments, even if their bank is not connected to the SWIFT… Read More

Financial Compliance Platform Kompliant Selects authID’s Biometric Authentication for Merchant Onboarding

authID [Nasdaq: AUID], a provider of secure, mobile, biometric authentication solutions, announced that Kompliant, a U.S.-based, AI-driven, business onboarding and risk-scoring company, will “integrate authID’s biometric authentication platform Verified™ to stop identity fraud and automate digital onboarding for its customers.” Kompliant works with payment processors… Read More

Yapily, Pleo to Boost Cash Flow for Businesses

The team at Yapily is looking forward to teaming up with fintech unicorn Pleo, which offers a smart business spending solution, “to enable a simplified payments experience for its UK users.” Research shows that 82% of businesses that fail “do so as a result of… Read More

Card Curator Partners with Investment, Financial Education App Provider Invstr

Card Curator, an app that informs rewards credit cardholders on how to earn the most out of their purchases without spending more, and U.S. investment and financial education app Invstr, have partnered “to help Invstr users make sharper decisions on their daily card spending with… Read More

KPMG to Introduce Singapore-based Embedded Finance Hub

With financial services globally and in Singapore shifting towards embedded finance, KPMG announced the launch of Singapore’s first Embedded Finance Hub with ambitions “to accelerate the adoption of embedded finance in the country.” The Hub, set to run for at least 2 years is expected… Read More

Malaysia’s Maybank Introduces Sustainable Product Framework to Support Green Finance

Maybank has designed its own Sustainable Product Framework (SPF) – the “first” by a Malaysian bank – “to enable greater development of green, social and sustainable products.” The framework, which will support the Group’s commitment of ‘Mobilizing RM50 billion in Sustainable Finance by 2025’, will… Read More

Grab-Singtel Introduce Virtual Bank – GXS Bank in Singapore

GXS Bank, the virtual bank joint initiative of ride-hailing company Grab Holdings and Singapore Telecommunications, have reportedly introduced a digital bank in Singapore. Nasdaq-listed Grab’s financial services have become a vital part of its business expansion strategy as it aims to provide banking, virtual payments,… Read More

StashAway Teams Up with BlackRock to Offer Multi-Asset Model Portfolios

Southeast Asia’s wealth management company StashAway has teamed up with the world’s largest asset manager BlackRock (NYSE: BLK) in order to provide a suite of diversified multi-asset model portfolios. Developed from BlackRock’s analytics and ETFs (exchange-traded-funds), the portfolios will reportedly be managed by StashAway. Via… Read More

Brazil’s C6 Bank Offers Discounted Airfares via Atoms Points Loyalty Program

C6 Bank is offering special conditions for the purchase of airline tickets “with Atoms points through the bank’s application.” Between the 24th and 26th of August, the bank’s customers had been able to purchase national and international flights “at different prices through C6 Travel, an… Read More

Digital Asset Exchange Bybit Supports Fiat Deposits Across Europe with Fintech TrueLayer

TrueLayer, which claims to be one of Europe’s leading open banking platforms, announces its collaboration with Bybit, the “third-most visited” cryptocurrency exchange in the world. Bybit was established in 2018 as a crypto derivatives trading platform “where retail investors and traders could benefit from an… Read More

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