Tagged: digital financial services

March 2, 2023 @ 10:55 pm By Omar Faridi  |  

Open finance platform Brankas has announced a new feature enabling instant bank account opening as an “embedded finance” experience on third-party applications. The API is the “first” of its kind in the region, “launched first in Indonesia and the Philippines.” As a bundle with Brankas’… Read More

March 2, 2023 @ 4:33 pm By Omar Faridi  |  

We recently caught up with Sarah Howell, SVP of Partner Programs at Infinant, a financial technology company that provides pioneering infrastructure to help banks build embeddable financial products above their legacy banking technology. Sarah Howell shared her insights on the origins of the ecosystem strategy,… Read More

March 2, 2023 @ 3:32 pm By Omar Faridi  |  

Wealthfront, a robo-advisor for young professionals, launched the ability to buy individual stocks and fractional shares with zero commissions. Starting today, investors can open a Wealthfront Stock Investing Account with just $1 and access curated stock collections designed “to help clients discover new investment opportunities.”… Read More

March 1, 2023 @ 11:24 am By Omar Faridi  |  

Thought Machine, the cloud-native banking technology company, announces the next phase of its expansion plans, in which it will increase its global headcount by more than 20% in 2023, which includes hiring in India, Japan and other world regions for the first time. The company… Read More

February 28, 2023 @ 8:03 am By Omar Faridi  |  

Pagos, a payment intelligence company that empowers businesses to optimize their digital payment infrastructure and maximize revenue, lower payments costs, and reduce fraud,  announced an oversubscribed $34 million Series A investment led by Arbor Ventures, a global fintech-focused venture firm. Additional participating investors “include Point… Read More

February 27, 2023 @ 10:31 pm By Omar Faridi  |  

Western Union (NYSE:WU)  and Beforepay (ASX: B4P) announced a first-of-its-kind collaboration, allowing consumers “to boost their cross-border money transfers by accessing reliable, ethical and affordable short-term lending.” Consumers can ‘Send Now, Pay Later’ by “borrowing up to AUD 2000 through Beforepay’s wage-advance product on Western… Read More

February 27, 2023 @ 10:25 pm By Omar Faridi  |  

Klarna, the global firm focused on the generational shift away from credit cards, announced strong momentum in the US, “with a 71% YoY increase in GMV, while improving credit loss rates by 37%.” Now with 34 million consumers in the US, the market has “become… Read More

February 27, 2023 @ 11:50 am By Omar Faridi  |  

TransferMate have announced the launch of ‘TransferMate Connect’, an integrated payments solution for banks and financial institutions “to deliver faster and more cost-effective payments products and services for their customers.” TransferMate claims it has “built the largest non-bank payments infrastructure in the world, covering more… Read More

February 26, 2023 @ 4:43 pm By Omar Faridi  |  

The Saudi Central Bank (SAMA) announced the licensing of Mani, a finance debt collection company to provide debt collection service for finance institutions. The license was granted to the company after completing all requirements stipulated in the “Rules of Licensing Finance Support Activities” issued by… Read More

February 26, 2023 @ 4:32 pm By Omar Faridi  |  

Stripe, a financial infrastructure platform for businesses, announced the expansion of its network tokens and card account updater in partnership with Visa, Mastercard, and American Express. Together, these features “help businesses protect revenue, increase authorization rates, and reduce the churn that occurs when customers’ credit… Read More

February 25, 2023 @ 6:38 pm By Omar Faridi  |  

Remitly Global, Inc. (NASDAQ: RELY), a digital financial services provider for immigrants and their families, announced it has expanded into the Middle East with the launch of its outbound remittance product in the UAE. Remitly has also “opened an office in the Dubai International Financial… Read More

February 24, 2023 @ 3:47 pm By Omar Faridi  |  

Wells Fargo & Company (NYSE: WFC) announces the launch of LifeSync, a personalized digital approach to aligning clients’ goals with their money. LifeSync, in the Wells Fargo Mobile® app, will be “available at the end of March to Wealth & Investment Management (WIM) clients.” Delivering… Read More

February 24, 2023 @ 12:22 pm By Omar Faridi  |  

NatWest and NAB have published a jointly authored white paper “exploring the common threads that bind both Australia’s Consumer Data Right (CDR) and the UK’s Open Banking regime.” The agenda-setting whitepaper “highlights the similarities in the policies that underpin both regimes: to increase competition, innovation… Read More

February 24, 2023 @ 9:13 am By Omar Faridi  |  

Block, Inc. (NYSE: SQ) has posted its results for the fourth quarter and full year of 2022. The Fintech reports that total net revenue was $4.65 billion in the fourth quarter of 2022, up 14% year over year. Excluding Bitcoin revenue, revenue in the fourth… Read More

February 23, 2023 @ 10:00 pm By Omar Faridi  |  

FNZ, the global wealth management platform, has confirmed the completion of its acquisition of YieldX, a US-based provider of fixed-income portfolio management technology and optimization services for the wealth management industry. The acquisition “brings together the full-service end-to-end platform of FNZ with YieldX’s market-leading digital… Read More

February 20, 2023 @ 9:34 pm By Omar Faridi  |  

HighRadius, the global firm focused on Autonomous Finance Platforms for the Office of the CFO, announced “record” performance in 2022. Customer Growth & Adoption: Grew client base 24% YoY to over 800+ clients, including 200+ from the Forbes Global 2000 Completed 2400+ finance transformation projects… Read More

February 20, 2023 @ 10:07 am By Omar Faridi  |  

Juniper Research defines Open Banking as the practice of “sharing, and to an extent control, personal financial information between FIs (Financial Institutions) and TPPs (Third-party Providers), mostly in the form of Fintech developers, subject to customer consent via the use of APIs (Application Programming Interfaces).”… Read More

February 20, 2023 @ 8:35 am By Omar Faridi  |  

In order to provide the complete set of features that many of their customers know and love, Plutus works with various third parties including a banking partner. Their banking partner “provides and manages your Plutus current account.” Plutus is “moving from one of its current… Read More

February 17, 2023 @ 4:17 pm By Omar Faridi  |  

Nu Holdings Ltd. (NYSE: NU), one of the world’s largest digital financial services platforms, released its Fourth Quarter & Full Year 2022 financial results. Financial results are “expressed in U.S. dollars and are presented in accordance with International Financial Reporting Standards (IFRS).” The full earnings… Read More

February 16, 2023 @ 7:37 am By Omar Faridi  |  

Sandbox Banking, the fintech building a low-code integration platform for banking, announces its completion of “a strategic investment led by Horizon Ventures, bringing the company’s total financing to $6M.” Participating investors reportedly “include Forum Ventures, SixThirty, Tuesday Capital.” Using the company’s Glyue™ platform, banks and… Read More