Tagged: fintech adoption

January 21, 2021 @ 8:14 am By Omar Faridi  |  

Lex Sokolin, CMO at blockchain firm ConsenSys and Co-Head of Fintech and DeFi at ConsenSys Codefi, recently discussed how can we “best understand” the 100x revenue multiples for Fintech firms Affirm, Checkout, Rapyd, and several others. 1/ How can we best understand the 100x revenue… Read More

January 20, 2021 @ 11:51 pm By Omar Faridi  |  

Payments platform Adyen (AMS: ADYEN) explains that their approach to engineering and development involves open-sourcing their technology stack or building various solutions in-house. Burak Yildirim, Team Lead, Adyen, writes in a blog post that being the most “money-involved domain” of Fintech, payment processing platforms such… Read More

January 18, 2021 @ 11:06 pm By Omar Faridi  |  

A third or around 33% of households in India are now using digital payments, with usage being evenly spread across different income groups, according to a survey performed by the National Payments Corporation of India (NPCI) and People Research on India’s Consumer Economy (Price). The… Read More

January 17, 2021 @ 7:05 pm By Omar Faridi  |  

CIMB Bank Philippines, which aims to transform the Filipino banking experience with its all-digital, mobile-first bank, “offering 24/7 safe and secure banking, bank account opening in just 10 minutes through smartphones,” is reporting that it has managed to double its deposit customer base. Launched in… Read More

January 16, 2021 @ 11:49 pm By Omar Faridi  |  

Fintech industry professionals believe that this year we’ll begin to really take advantage of the accelerated digital technology adoption and ongoing development that surfaced in 2020 due to COVID-19. The Fintech sector has taken a major step forward with the global user base growing significantly… Read More

January 16, 2021 @ 6:04 pm By Omar Faridi  |  

With digital or neo banking gaining more users and popularity during the Coronavirus pandemic, the leading challenger banks in the US and Europe recently confirmed steady growth and adoption. Trading Platforms reveals that seven US or American challenger banks managed to record a combined user… Read More

January 15, 2021 @ 9:39 pm By Omar Faridi  |  

Standard Chartered has teamed up with Indonesia’s Bukalapak in order to offer digital banking services which will be hosted via the Nexus platform, an established Banking-as-a-Service (BaaS) solution by SC Ventures. Standard Chartered and Bukalapak will be working closely so that they can provide innovation… Read More

January 14, 2021 @ 11:30 pm By Omar Faridi  |  

UnionBank in the Philippines has teamed up with FinScore, an alternative credit scoring solution provider that’s powered by advanced analytics and the latest telco data. Through the partnership, both organizations will aim to promote market efficiencies and help consumers access a wide range of digital… Read More

January 12, 2021 @ 10:22 pm By Omar Faridi  |  

A recently published whitepaper from Massachusetts-based International Data Corporation (IDC) and Huawei examines how banking institutions across the globe have been dealing with the COVID-19 outbreak. The paper identifies or recommends the way forward in a post COVID world which is now considered the “new… Read More

January 12, 2021 @ 7:47 am By Omar Faridi  |  

Checkout.com, an established payments company, has again managed to become the highest-valued Fintech business in Europe after finalizing a huge $450 million Series C investment round. The Fintech firm has been able to triple or 3x its valuation for the second time and is currently… Read More

January 11, 2021 @ 11:11 pm By Omar Faridi  |  

i2c, a digital payments and banking technology provider, has revealed that it was selected to develop Pakistan’s TAG, which is described as a “digital-native” financial app. TAG is the latest Fintech solution in the country to be granted approval by the State Bank of Pakistan… Read More

January 11, 2021 @ 10:23 pm By Omar Faridi  |  

Banking institutions and online payments providers in India have asked the nation’s government to bring back the Merchant Discount Rate (MDR) on RuPay, which is an international card payment service launched by the National Payments Corporation of India. Digital payments providers in the country also… Read More

January 11, 2021 @ 8:12 am By Omar Faridi  |  

Prominent digital bank Revolut is expecting half of its clients to deposit their salaries and switch over to Revolut as their main bank account provider, after the Fintech challenger has acquired a banking license. Revolut issued a statement earlier today stating it has submitted its… Read More

January 10, 2021 @ 10:20 pm By Omar Faridi  |  

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

January 10, 2021 @ 9:23 pm By Omar Faridi  |  

Cross-border payment platform Currencycloud notes that financial innovation is now taking place at a “record pace.” However, when it comes to smaller businesses, you must first address their cash flow problems, because “nothing else matters” (if you can’t solve this issue first). Derik Sutton, VP… Read More

January 10, 2021 @ 1:43 pm By Omar Faridi  |  

The team at Payment Components, a UK-based firm that’s empowering Open Banking with agile PSD2 and API frameworks (developing solutions for banks, corporates, and developers including BaaS while supporting Fintech payments), notes that with the introduction of new regulations and payment systems, managing a bank’s… Read More

January 5, 2021 @ 8:00 am By Omar Faridi  |  

Erik Kaju, Director of Engineering, Cards and Spend at Fintech firm TransferWise, notes that after the introduction of the money transfer service’s debit Mastercard back in 2018, they’ve taken the card to more than 30 countries on four different continents. TransferWise claims that more than… Read More

January 4, 2021 @ 11:32 pm By Omar Faridi  |  

The Institute for Development and Research in Banking Technology (formed by the Reserve Bank of India) has revealed that the digital economy sector in India is expected to “double its output as early as 2025.” Digitization in India is expected to lead to “widespread economic… Read More

January 4, 2021 @ 7:42 am By Omar Faridi  |  

Digital bank Revolut has reportedly outpaced competitors Monzo and Starling in terms of the number of downloads during 2020. Notably, Revolut saw more app downloads last year than Monzo and Starling Bank combined. As first reported by the Telegraph, Revolut’s online banking app grew more… Read More

January 3, 2021 @ 9:49 pm By Omar Faridi  |  

China’s banking and insurance regulator stated on December 31, 2020 (Thursday) that all Internet-based platforms in the country should investigate their Fintech-related businesses to ensure that they’re following regulatory guidelines and must also address any shortcomings. China‘s financial regulators have held discussions with Alibaba’s (NYSE:BABA)… Read More