Kenya is leading the way when it comes to digital innovation for financial inclusion in Africa, according to research by the Consultative Group to Assist the Poor (CGAP). Earlier this year, CGAP says it invited firms and organisations to submit proposals for digital innovations they believe have the most potential to advance financial inclusion in […]
If you’ve got preconceptions about what fintech looks like and where it’s happening, then Aleksey Chubar, head of digital transformation at VTB, has news for you. Russia is becoming a hotbed of fintech innovation – not just domestically, but internationally too. More than that, the rapid pace of technological change in the country means you’ll soon wonder how you got left behind.
It’s a good thing Solana (“Sol”) Cozzo is high energy. When she’s not literally running or chasing after 3-year-old twins, she’s running Mastercard’s North American prepaid and inclusive growth business. It’s hard work when you consider that “the cardable opportunity is about seven times the current market,” she says.
Allied Wallet, a Los Angeles-based provider of online payment processing, is partnering with UnionPay International to issue a UnionPay-branded prepaid card, the “first ever’ partnership of its kind in Europe.
JP Morgan Chase has teamed with Bill.com, the largest digital business-to-business (B2B) payments network in the US, for its new paytech platform. This B2B solution, to be rolled out next year, will be integrated into Chase’s digital platform for businesses, used for online and mobile solutions. Andrew Kresse, CEO of business banking at JP Morgan […]
Raise, which bills itself as the world’s largest gift card marketplace, has raised $60 million in a Series C funding round led by Accel, with participation from PayPal and existing investors New Enterprise Associates and Bessemer Venture Partners.
Amplify Credit Union is converting from its legacy core processing software provider to Fiserv and its DNA platform. DNA will become the credit union’s “new foundation for its member-centric technology strategy”, Fiserv says.
A new survey conducted by Juniper Research has found that more than 40 percent of iOS users in the U.S. consider themselves unlikely to use facial recognition as a payment security technology. This suggests that a core use case for the iPhone X’s main security feature may struggle to gain traction among consumers, the consultancy says.
Four stories in one for a fast fintech funding round-up. Features Ellevest, iZettle, GoCardless and MarketInvoice. New York-based fintech Ellevest, led by former Merrill Lynch CEO Sallie Krawcheck, has got itself $34.6 million funding. Ellevest is a bit different from the rest as it was founded to provide an investing experience to “help women meet […]
Hyperwallet, a global payouts provider to millions of independent workers, has hired Derrick Walton as its new executive vice president of global financial networks.
Nacha, the backbone for the electronic movement of money and data in the US, has launched the same-day automated clearing house (ACH) debit transactions with its ACH Network.
Austrian banking group Addiko has unveiled chat banking for its customers – the “first ever” Viber-based financial transaction service available in Croatia. Called “Addiko Chat Banking”, it’s a digital banking service that, in partnership with Comtrade Digital Services and communication platform Viber, enables customers to directly communicate with the bank and make payments. Mario Žižek, […]
Consumers now will be able to use some gift cards to pay at the pump, thanks to a partnership with On-Line Strategies Services LLC, a wholly owned subsidiary of InComm, and National Bankcard Services.
EML Payments Limited announced that its wholly owned subsidiary EML Payments Europe Limited has entered into a multiyear agreement with Fortuna Entertainment Group to provide branded reloadable cards for customers to access their winnings or remit funds back into their gaming accounts.
M-vendr, a U.K.-based tech company with a POS pay-in system across 12 African nations, has signed an agreement with international cash payments platform PiP iT to integrate the latter’s barcodes across its network of 45,000 merchant locations.
India’s second largest bank, Bank of Baroda, has got itself an “exclusive” micro lending partnership with Amazon. The bank says through this partnership it is running a process for underwriting Amazon sellers “who would traditionally not be able to procure a line at formal financial institutions”. The deal is part of the bank’s ambitions to […]
Malta-based Banif Bank is harbouring ambitious growth plans and is looking to modernise its technology enterprise-wide, front-to-back office as a key part of this strategy.
Austrian banking group Addiko has unveiled chat banking for its customers—the “first ever” Viber-based financial transaction service available in Croatia.
Zambia-based Zazu is readying for launch – as it targets being “Africa’s first digital-only bank” and offering a “more personalised solution” than a traditional bank. In November, it will launch with 1,500 prepaid debit cards. It wants to give these out to people who regularly use cards to make payments, so it can improve and develop […]
This morning I was having breakfast with a colleague. I paid the bill, and he sent me his share of the bill using our Monzo app. Before we’d walked out of the café, the money was in my account. Simple!
Arguments, exchanges and something getting launched. It’s our blockchain and bitcoin roundup, featuring Chase CEO Jamie Dimon, Japan’s regulatory plans and alt. lending.
EXCLUSIVE: Finastra, which emerged earlier this year from the combination of two banking tech vendors, D+H Corporation and Misys, has made a number of job cuts across its operations.
Semafone, a U.K.- and Boston-based provider of data security and compliance solutions for contact centers, has appointed John Donaldson to the role of chief finance officer, as the company prepares to build on its record growth in 2016.
U.S. consumers aren’t buying as many prepaid cards, according to a new consumer survey from Mercator Advisory Group. The data show 56 percent of U.S. adults bought prepaid cards in the year preceding the June survey, down from 63 percent in 2016.
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Corporates and SMEs in Singapore and Hong Kong can now track their cross-border payments via DBS, using Swift’s global payments innovation (gpi). DBS says it is the first bank in the two countries to execute cross-border payments with end-to-end tracking, “helping corporates and SMEs become more efficient in their cash management”. In the past, DBS […]
Acting Comptroller of the Currency Keith Noreika told FinovateFall attendees in New York this week that the agency is still in the exploratory phase of its fintech charter, according to news reports.
Google is expected to launch a mobile payments app in India next week. Google Tez, which means “fast” in Hindi will reportedly support Android Pay as well as the government-backed Unified Payments Interface and other consumer payment services including Paytm and MobiKwik.
Payment Systems Regulator (PSR) and Bank of England have revealed that the U.K. will be getting the New Payment Systems Operator by the end of 2017, which the PSR says will be an important step in streamlining the U.K.’s payment systems and fostering competition and innovation.
The Payment Systems Regulator (PSR) and Bank of England (BoE) have revealed that the UK will be getting the New Payment Systems Operator (NPSO) by the end of 2017. The duo says that the Payment System Operator Delivery Group (PSODG) has completed the necessary steps to deliver what was asked and so with the NPSO […]
As big data just keeps getting bigger, banks, retailers and every other kind of company must have more sophisticated tools to understand and predict what customers want and need.
If you’re trying to cater to millennials, you need to understand how they think and feel about money.
Yes Bank, one of the largest banks in India, us calling for start-ups to apply for the second cohort of its Yes Fintech innovation programme.
Digiliti Money (DGLT) may have gotten knocked down, but it’s not out. And neither is a revised bid from prospective buyer Urban FT.
Bob Raffo Jr. has joined the Pay Award-winning prepaid program manager and processor FirstView Financial as president and CEO.
Forget facial scans or a watch that’s not tethered to the phone. If you’re a bank or payments company, you’d best be looking at Apple’s plans for the transformation of retail.
Marieke Flament, European MD at Circle, discusses how technology is transforming the global payments landscape.
The introduction of new bond requirements for money transmitters in Pennsylvania is in line with an overall trend across states to enforce stricter conditions on money transmitter license holders and applicants. See what the licensing requirements mean for your business.
There’s a new fintech challenger in town. Toronto-based STACK announced its partnership with Mastercard two weeks ahead of the beta launch of its mobile financial services app and companion prepaid card.
Nordic payments processor Nets has entered into a 3-year partnership with Vipps, a mobile payment application provider in Norway, to deliver instant P2P payments to customers of all Norwegian banks partnered with Vipps.
