Tagged: millennials

Cash Usage Declined, Contactless Payments have Increased Considerably, According to Jodie Kelly from Electronic Transactions Association

The Coronavirus outbreak has led to a dramatic surge in demand for contactless payments options, which has accelerated the ongoing shift from cash transactions to safer digital payment methods. Jodie Kelley, CEO at Electronic Transactions Association, has noted that during the past 6 to 8… Read More

Bitcoin Is like an “Economic Side Show” when Compared to the Fintech Boom, JPMorgan Analysts Argue

JP Morgan says that Bitcoin (BTC) is like an “economic side show” when compared to the emergence of many new Fintech businesses. The bank’s analysts have argued that Bitcoin is a poor hedge against the falling equity prices. The world’s leading digital currency is trading… Read More

Nearly 50% of US Consumers Think it’s Now “Safe” to Invest in Bitcoin (BTC) and Other Cryptocurrencies: Survey

Piplsay research reveals that 27% of US consumers are planning to make investments in cryptocurrency during 2021. Around 50% of Americans think that it’s now “safe” to invest in decentralized digital currencies, the survey revealed. About 57% of US-based consumers said they think major brands… Read More

30% of Americans Say COVID-19 has Negatively Affected their Financial Wellbeing, About the Same Number Blaming 2008 Housing Crisis: Survey

A recent SWNS research study has revealed that 40% of US-based consumers under the age of 40 are not optimistic that they’ll be able to succeed in achieving their financial goals. The study of 2,000 Americans (between the ages of 18–40) found that around 58%… Read More

Nearly 20% of Australians Now Own Cryptocurrency, As Attitudes Toward Bitcoin and Other Digital Assets Improved: Survey

As the price of Bitcoin (BTC), the flagship cryptocurrency, surpasses its previous all-time high (and recently breaking past the $24,000 mark), a new report reveals that “attitudes” toward the digital asset are “improving” with nearly one in five or 20% of Australians now “owning some”… Read More

Australian Neobank Xinja to Close Down Customer Accounts, Hand Back Banking License

Australian neobank Xinja had been working on finalizing a $433 million investment deal from Dubai’s World Investment Group. However, the digital challenger will now be closing customer accounts and returning its banking license. Xinja’s management noted that they will be refunding customer savings. The Fintech… Read More

Stock Trading App Provider Robinhood Planning IPO with Assistance from Goldman Sachs: Report

Robinhood, a popular trading app that has encouraged a new generation of investors to take part in equity trading, has reportedly hired giant Wall Street investment bank Goldman Sachs to lead the Fintech firm’s IPO. Robinhood Markets will be working with Goldman Sachs (NYSE:GS) in… Read More

ICICI Bank Launches Banking Stack “Mine” For Millennial Customers

India-based banking group ICICI Bank announced on Thursday the launch of “Mine,” which is a comprehensive banking program for millennial customers. The banking group reported that Mine offers an instant savings account. Icici Bank reported that it integrated with the investment platform of Sqrrl with… Read More

Roxana Mohammadian-Molina: CSO at Online P2P Lender Blend Network Explains how Platform Is Democraticizing Property Lending

We recently connected with Roxana Mohammadian-Molina, the Chief Strategy Officer at Blend Network, an online peer to peer (P2P) property lending platform. Roxana talked about how the UK real estate market is performing. She also discussed how her company has managed to maintain operations during… Read More

Digital Banking: Razer Fintech CEO Says they’ll Use Singapore Launch as Way to Branch Out to Other Jurisdictions to Offer Financial Services

Razer Fintech’s parent company is reportedly backed by a cash balance of more than $500 million and has zero debt. Headquartered in Singapore, Razer Fintech plans to launch a global “youth bank.” The company’s management is currently laying the foundation and making other necessary preparations… Read More

Australian Digital Banking Challenger Alex Is Planning to Secure $7.1 Million via Series B Round

Australia based Alex, a digital banking challenger, is reportedly planning to secure about A$10m (appr. $7.1 million) in capital through a Series B investment round. As first reported by the Financial Review, Alex’s team of senior management professionals have been focused on acquiring additional funding by approaching various… Read More

Razer Fintech Partners with Singapore’s Lifestyle Marketing SaaS Provider, Perx Technologies, to Enhance Neobanking Experience

Malaysia’s Razer Fintech, the Fintech division of Razer (a multinational financial service provider), has teamed up with Singapore’s Lifestyle Marketing SaaS (software-as-a-service) provider, Perx Technologies, in order to provide better mobile-first customer engagement for financial services. Through the partnership, Razer Fintech will focus on transforming… Read More

Y Combinator backed Indian Fintech Investment App Groww Secures $21.4 Million via Series B

Groww, an investment app that aims to focus on providing services to Indian millennials, has reportedly secured $21.4 million in capital through a Series B funding round – which was led by US-based VC firm Ribbit Capital. Existing investors Sequoia India and Y Combinator also… Read More

Razer Fintech and Franklin Templeton to Offer Digital Wealth Management Services to Millennials in Singapore and other Asian Countries

Razer Fintech has teamed up with Franklin Templeton in order to develop various digital wealth technology or Wealthtech tools for younger consumers. Franklin Templeton’s Singapore based subsidiary, Templeton Asset Management, and Razer Fintech, the financial division of Razer Inc, have committed to a Memorandum of… Read More

Singapore Fintech Atlantis Introduces Digital Bank in India, will Focus on Serving Millennials and Gen Z Consumers

Singapore based Fintech firm Atlantis has reportedly launched a digital bank in India. The company’s business aims to target the estimated $15.7 billion global Millennial banking market. The neobank will mainly focus on serving Millennials (people born around 1980 to 1996) and Gen Z (born… Read More

Financial Education App, Invstr, Offers an Alternative to Millennials who Might Not Want to Use Robo-Advisors

The COVID-19 pandemic has “completely disrupted” young Americans’ financial stability, according to an update shared with Crowdfund Insider. The economic uncertainty due to the Coronavirus crisis has forced Millennials (people born around 1980 to 1996) to rethink or re-evaluate their retirement strategies, if they even… Read More

Fintech Adoption in China Remains Strong due to Increased Use of AI, Digital Wallets, WealthTech, Robo-Advisory Services by Businesses: Report

Guided by the government’s Fintech focused development plan and innovation strategy, China is reportedly leading the charge when it comes to establishing financial technology businesses in the country. A recent survey of business Fintech usage, performed by CPA Australia, an established accounting firm, reveals that… Read More

Fintech Sector Participants in Indonesia Reveal that Millennials are Only Saving 10% of Income due to Low Financial Literacy

Fintech industry participants in Indonesia have noted that the nation’s residents have been slow when it comes to adopting the latest technologies in the finance sector. This may be due to relatively lower levels of financial literacy in the country, according to researchers and analysts…. Read More

SendGold, an Australian P2P Digital Money or Gold as a Service Platform Reports Over 800% Increase in Transactions, After COVID-19 Outbreak

Fintech firm SendGold, which describes itself as a Gold-as-a-Service (GaaS) platform, reports an 819% increase in transaction volume and a 311% growth in transaction size since January 2020. Established in 2016, SendGold is a peer to peer (P2P) digital money platform focused on serving the… Read More

Bitcoin (BTC) Investments: UK Millennials with £25,000+ in Investable Assets are Increasingly Investing in Cryptocurrencies, a Survey Reveals

Millennials, who are people born in the early 80s to the mid-90s, have increasingly been adopting smartphone-based Fintech apps offered by Robinhood and innovative digital banks like Revolut. In addition to more actively managing their finances through the latest technology when compared to older generations,… Read More

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