The Fintech Times

SEPTEMBER 19, 2024

The Thai banking sector could have a new key player in the first half of 2025 as Lighthub Asset , a Thai fintech and WeLab , a pan-Asian fintech platform submit an application for a virtual banking licence with the Bank of Thailand. It will provide localised digital banking services to everyone, including the underserved.

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Fintech News

JULY 4, 2024

As artificial intelligence (AI) rapidly transitions from a nascent development to a ubiquitous technology accelerating advancements across the financial landscape, far-reaching implications for central banks worldwide are quickly emerging.

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Fintech Finance

MAY 8, 2024

Mastercard has signed a memorandum of understanding (MoU) with The BENEFIT Company (BENEFIT), leading fintech company in Bahrain, and the national electronic payment infrastructure operator, to explore opportunities for collaboration in driving innovation and financial inclusion in the country’s dynamic payments ecosystem.

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The Fintech Times

MARCH 8, 2024

Many firms in developing regions are looking towards technology as a way of advancing their financial marketplaces. For example, in Rwanda, I&M Bank (Rwanda) Plc. , the oldest bank in Rwanda and licensed by the Central Bank of Rwanda , and Network International (Network) have partnered to improve financial inclusion in the country.

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The Fintech Times

AUGUST 8, 2024

Ziina , a UAE-based financial platform supporting consumers and entrepreneurs, has secured the Stored Value Facility (SVF) licence from the UAE Central Bank , enabling it to expand its range of financial services.

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Fintech Finance

MARCH 5, 2024

Mastercard with Central Bank of Jordan (CBJ) collaborates to develop a payment ecosystem digitization blueprint for the country. The Central Bank of Jordan will benefit from Mastercard’s global expertise to accelerate economic and payments digitization and improve acceptance.

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The Fintech Times

JULY 2, 2024

Aani, operated by Al Etihad Payments , has become a crucial part of the Central Bank of the UAE’s National Payment Systems Strategy (NPSS), which aims to create a digitised, cashless economy in the UAE. Mashreq led the first stage of Aani’s implementation alongside seven other UAE-based financial institutions. .”

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Fintech Finance

FEBRUARY 2, 2024

Network International (Network), the leading enabler of digital commerce across the Middle East and Africa (MEA) region, has announced that it has obtained a Major Payment Institution (Major PI) licence from the Saudi Central Bank (SAMA) that will strengthen the acquirer’s foothold in the Kingdom.

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Fintech Finance

SEPTEMBER 27, 2024

This strategic partnership aims to empower Trinidad and Tobago to establish a reliable and efficient real-time payments platform for both person-to-person (P2P) and person-to-merchant (P2M) transactions, expanding digital payments in the country and fostering financial inclusion.

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Fintech Finance

APRIL 16, 2024

Loop, licensed by the Saudi Central Bank (SAMA), is specialized in digital payments technology and services that provide a seamless and frictionless financial experience for individuals and businesses in KSA.

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Financial Inclusion FinTech Instant Payments Digital Payments 52

Finovate

DECEMBER 22, 2023

EMTECH, a company that provides infrastructure for central banks, provided a CBDC hackathon as part of a pilot project with the Bank of Ghana. African fintech Bloc launched its business banking solution this week. Mexico’s Banorte announced plans to launch its digital banking product , Banco Bineo in January.

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The Fintech Times

MAY 29, 2024

Cryptocurrencies, central bank digital currencies (CBDCs) and stablecoins remain prominent and continue to see innovation worldwide; particularly in the Middle East and Africa (MEA). By leveraging cryptocurrencies, these individuals gain access to financial tools and services previously unavailable to them.

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Fintech Finance

JULY 4, 2024

The introduction of a token-based solution such as G+D Filia® Unplugged not only strengthens payment resilience but also has the potential to drive financial inclusion for nearly 1.4 Raoul Herborg, Managing Director Central Bank Digital Currency at G+D. billion unbanked people worldwide.

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Digital Payments Online and Mobile Banking Financial Inclusion Central Bank 97

Fintech Finance

AUGUST 27, 2024

Mexipay will utilize ACI’s Digital Central Infrastructure solution, part of the award-winning ACI Enterprise Payments Platform, to address the need for enhanced real-time payment services. The post ACI Worldwide and Mexipay Extend Partnership to Boost Instant Payments Adoption in Mexico appeared first on FF News | Fintech Finance.

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Instant Payments Real Time Payments ISO 20022 Financial Inclusion 96

Fintech Finance

SEPTEMBER 24, 2024

BancNet is the Clearing Switch Operator (CSO) for InstaPay, and has been authorized by the central bank as an Operator of a Designated Payment System (ODPS), with InstaPay being a Prominently Important Payment System (PIPS). Our goal is to support BancNet to bring its members into the ecosystem quickly and efficiently.

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Instant Payments ISO 20022 ISOs Financial Inclusion 92

The Fintech Times

MAY 23, 2024

UAE-based Comera Pay, the fintech arm of Comera Financial Holding, has received preliminary approval from the Central Bank of the UAE to operate under two key financial licences. The post Comera Pay Secures Approval to Boost UAE’s Cashless Economy appeared first on The Fintech Times.

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The Fintech Times

SEPTEMBER 12, 2024

Kicking off proceedings in the morning on the main stage, Thomas Courtois , CEO of Nickel , the France-based neobank, highlighted the importance of financial inclusion in a modern economy. Courtois first explained that recent trends were positive: “Generally, we can say that financial inclusion has risen during the last year.

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The Fintech Times

SEPTEMBER 9, 2024

Previously hosted by major institutions like the Federal Reserve, Deutsche Bundesbank and the European Central Bank, the workshop has become a central platform for discussions on cutting-edge financial innovations. The event will also explore emerging issues such as consumer protection in the age of generative AI.

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The Fintech Times

JULY 18, 2024

After successfully raising $14million in 2023, myZoi , a UAE-based fintech focused on financial inclusion and financial literacy for the underbanked, has launched its first inclusive digital wallet. myZoi seeks to support six out of 17 UN’s Sustainable Development Goals.”

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Fintech Finance

FEBRUARY 28, 2024

We are confident that the extension of our partnership with Kuvasz Solutions will support the rapid adoption of the new scheme by banks, fintechs and merchants in Colombia,” commented Leonardo Escobar, head of Latin America, ACI Worldwide. “It

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Fintech Finance

APRIL 18, 2024

Fime has been selected by Al Etihad Payments , a subsidiary of the Central Bank of the UAE, to play a key role in the establishment of the UAE’s domestic card payment scheme, named Jaywan. The post Fime to Support Set Up of UAE’s Domestic Card Scheme (Jaywan) appeared first on Fintech Finance.

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The Fintech Times

SEPTEMBER 21, 2024

The introduction of SNPL is part of Astra Tech’s broader goal to increase financial inclusion in the region. The post Astra Tech Launches ‘Send Now, Pay Later’ Service via Botim in UAE appeared first on The Fintech Times. SNPL is expected to ease this process for the UAE’s expatriate community.

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Financial Inclusion BNPL Central Bank Volume 64

Open Banking Excellence

JULY 1, 2024

With the UK government continuing to support the UK’s broader fintech environment and promote open banking innovation, Open Banking in a Box will champion the UK’s world-leading open banking standards and make the case for greater cross-border interoperability that will benefit UK PLC and support financial inclusion globally.

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Fintech News

DECEMBER 11, 2023

This PoC involved executing real-time cross-border test transactions between various Central Bank Digital Currency (CBDC) systems. Meanwhile, the the direct model is where central banks manage wallets and settlements within a centralised CBDC system. The PoC explored two models.

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CBDC Distributed Ledger Technology (DLT) Cross-Border Central Bank 104

Fintech Finance

APRIL 12, 2024

In Kenya, the Central Bank of Kenya reported $5.77 Cross border remittances unlock financial inclusion by empowering individuals to access formal financial services, ultimately fostering economic growth and stability in the region. .” billion worth of foreign currency inflows in 2022.

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The Fintech Times

JANUARY 23, 2024

January has been a busy month for the Central Bank of Saudi Arabia (SAMA). Following a request for public input on the “draft general rules for savings products at banks and banks”, the central bank has now licensed various firms to engage in payments and debt crowdfunding activities.

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The Fintech Times

JANUARY 31, 2024

FINX Comply is a cloud-based SaaS solution that offers an Open API Gateway with ‘out-of-the-box’ compliance – based on regional standards enabling banks and financial institutions to enjoy a fast and secure experience when integrating with centralised API platforms offered by central banks.

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Compliance FinTech Central Bank API 69

The Fintech Times

JUNE 6, 2024

Project mBridge , a collaborative initiative involving multiple central banks and the Bank for International Settlements’ (BIS), h as reached an important development milestone. The Saudi Central Bank (SAMA) has recently joined as a full participant, with over 26 other central banks observing.

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Fintech Finance

DECEMBER 13, 2023

The Central Bank of Colombia, Banco de la República , today announced it is partnering with ACI Worldwide (NASDAQ: ACIW), the global leader in mission-critical, real-time payments software , to build a new domestic real-time payments ecosystem as part of a nationwide banking transformation project.

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Real Time Payments Central Bank Financial Inclusion Payments 52

The Fintech Times

OCTOBER 4, 2024

“India has recently achieved unprecedented levels of financial inclusion and is actively promoting the adoption and growth of the online sector,” explains Rashmi Satpute , country director of India at EBANX. “The forecast for consumer spending will be felt in digital commerce as well, in all verticals.”

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Consumer Online and Mobile Banking Instant Payments Financial Inclusion 52

Clearly Payments

JANUARY 4, 2024

Unlike traditional currencies issued by governments and central banks, cryptocurrencies are typically based on blockchain technology, a distributed ledger that records all transactions across a network of computers. By accepting cryptocurrency payments, merchants contribute to a more inclusive global economy.

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Cryptocurrency Stablecoins Cross-Border Payments Digital Currency 84

Fintech Finance

DECEMBER 14, 2023

NymCard , a leading embedded finance services provider, today announced a strategic partnership with CWallet , an award-winning fintech startup with Payment Service Provider (PSP) licensed from the Qatar Central Bank. “These cards will help us further our goal of accessible financial services for all in Qatar.”

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Payment Service Provider (PSP) Embedded Finance Financial Literacy Financial Inclusion 52

The Fintech Times

APRIL 12, 2024

In Kenya, the Central Bank of Kenya reported $5.77 Cross-border remittances unlock financial inclusion by empowering individuals to access formal financial services, ultimately fostering economic growth, as well as stability in the region. billion worth of foreign currency inflows in 2022.

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Cross-Border Visa Transactions Financial Inclusion 69

The Fintech Times

SEPTEMBER 8, 2024

The Saudi Central Bank (SAMA) is working on strengthening the Saudi Arabian fintech ecosystem, and in doing so, has recognised the potential of open banking. As a result, SAMA has announced the issuance of the second release under the open banking framework, focused on the payment initiation service (PIS).

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Innovation Best Practices Financial Inclusion Central Bank 59

Finovate

AUGUST 9, 2024

“With their global expertise and reach within the financial inclusion space, they will be instrumental in further expanding GCash’s social impact, especially to the underserved. The move will allow as many as ten digital banks to operate in the Philippines.

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Fintech Finance

MAY 23, 2024

Comera Pay, the fintech subsidiary of Comera Financial Holding , headquartered in Abu Dhabi, UAE, today announced that it was granted an In-Principle Approval from the Central Bank of the UAE to operate under the Stored Value Facilitator (SVF) and Retail Payment System Clearing Service (RPSCS) licenses.

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Fintech Finance

OCTOBER 4, 2024

The context and challenges of each impact the means, not the end, because the result of this digital revolution is very similar in all these regions: economic development, financial inclusion, and innovation,” says Juliana Etcheverry , Director of Country Growth – Latin America at EBANX.

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