Wed.Jan 17, 2024

article thumbnail

Pomelo stacks $40M to scale its payments infra business in LatAm

TechCrunch Fintech

Argentinian payments infrastructure startup Pomelo has raised $40 million in a Series B round of funding. The Buenos Aires-based company started in 2021 with the goal of giving fintechs and embedded finance players a way to launch virtual accounts and issue prepaid and credit cards via compliant onboarding processes. Pomelo went live with its first customer […] © 2023 TechCrunch.

article thumbnail

How is AI Impacting Fintech Businesses?

The Fintech Times

Particularly since the release of OpenAI ‘s ChatGPT at the back-end of 2022, the world has sat up and taken notice of the potential of artificial intelligence (AI) to disrupt all industries in countless ways. To kick off 2024, The Fintech Times is exploring how the world of AI may continue to impact the fintech industry and beyond throughout the coming year.

AI 128
article thumbnail

Tandem gives ‘modern couples’ app to manage finances together and separately

TechCrunch Fintech

The fintech app addresses the first financial milestones for couples and grows with the relationship through planning, saving and spending features. © 2023 TechCrunch. All rights reserved. For personal use only.

Finance 120
article thumbnail

How Data Is Changing the Future of Banking

Fintech News

Banks collect and hold huge quantities of usable data, and many are already successfully applying big data and AI across various business cases. The potential to optimise data use through a data-driven banking strategy is enormous, especially for smaller banks. This is because even small projects can achieve clear added value with such a strategy. This article, a collaboration between financial software provider ti&m and Google Cloud, appeared in the ti&m special on digital banking, expl

AI 118
article thumbnail

From Start to Scale: Driving Growth Through Seamless Payments Implementation

Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting

Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical

article thumbnail

What Is an ACH Payment Facilitator?

Stax

Automated Clearing House (ACH) payments are a type of electronic bank-to-bank payment system in the US. Unlike payments facilitated by card networks like Visa or Mastercard, ACH payments are managed by a body called the National Automated Clearing House Association (NACHA). In Q3 of 2023, the total volume of payouts on ACH networks reached 7.8 billion.

ACH 88
article thumbnail

The Shifting Landscape of Fraud and Identity in 2024

Fintech News

The battle against fraud and identity theft has taken on new dimensions and complexities in today’s increasingly digital world. 2024 promises to be crucial in the ongoing struggle against financial cybercrime. As the financial industry continues to evolve, so do the tactics fraudsters employ. This article will delve into the key trends shaping the fraud and identity landscape 2024, drawing insights from various sources, including SumSub, LexisNexis Risk Solution, Feedzai and Jumio.

Deepfake 116

More Trending

article thumbnail

Exness Opens Applications for Fintech Scholarships Programme in South Africa

The Fintech Times

Multi-asset broker Exness is currently accepting applications for its Fintech Scholarships programme from outstanding students, marking the second year the company is supporting STEM (science, technology, engineering and mathematics) education in South Africa. The Exness Fintech Scholarships programme aims to pave the way for academic excellence and career development for exceptional, underprivileged and talented individuals, empowering them to become the next generation of tech leaders.

FinTech 105
article thumbnail

Temenos Launches AI-Powered LEAP to Accelerate Banks’ Cloud Migration

Fintech News

Banking software company Temenos has launched LEAP, an AI-powered initiative designed to help banks transition smoothly to advanced cloud-based platforms. LEAP is designed to enable banks to move away from older systems to a more contemporary, API-driven platform. The programme leverages AI to simplify traditionally manual aspects of migration and testing.

AI 111
article thumbnail

N26 launches stock and ETF trading to complement its banking offering

TechCrunch Fintech

Berlin-based banking startup N26 is rolling out a new stock and ETF trading feature starting with Austria as the first market. This product launch marks a renewed focus on the startup’s core markets with a larger portfolio of banking products in those countries. Like many challenger banks, N26 started with a simple product — an account […] © 2023 TechCrunch.

Product 92
article thumbnail

DBS Extends S$3 Hawker Meal Subsidies on Fridays Until 26 July

Fintech News

DBS Bank has extended its hawker meal subsidy programme which will now run until 26 July 2024, offering cashback incentives for customers using the PayLah! app for meal payments. The extension means a total of 7.5 million meals will be subsidised over 18 months. This initiative is a part of the 5 Million Hawker Meals campaign launched in February 2023 with the aim to alleviate the financial burden on consumers by subsidising up to SGD 3 for meals purchased at over 11,600 hawker stalls across Sin

Scams 106
article thumbnail

15 Modern Use Cases for Enterprise Business Intelligence

Large enterprises face unique challenges in optimizing their Business Intelligence (BI) output due to the sheer scale and complexity of their operations. Unlike smaller organizations, where basic BI features and simple dashboards might suffice, enterprises must manage vast amounts of data from diverse sources. What are the top modern BI use cases for enterprise businesses to help you get a leg up on the competition?

article thumbnail

Visa picks fintech startups for accelerator

Payments Dive

A debt repayment app startup and a small business lender are among the U.S. startups selected by the card network and its partner this year.

FinTech 88
article thumbnail

Indonesia’s Crypto Boom Stumbles, Trading Volumes Plummet 60% Amid Tax Concerns

Fintech News

Indonesia’s cryptocurrency market, previously known for its rapid adoption rates, experienced a significant downturn last year, as trading volumes on local crypto exchanges plummeted by 60% compared to the previous year. Industry experts suggest that stringent tax policies are partly to blame for this decline. In the Indonesian market, cryptocurrencies are categorised as commodities, making them subject to both income tax and value-added tax (VAT).

Volume 106
article thumbnail

CFPB proposal would cut overdraft fees

Payments Dive

Overdraft fees would be reclassified as extensions of credit, forcing banks to disclose an APR. They could also be cut to as low as $3.

CFPB 88
article thumbnail

additiv Names Anurag Pandey as Lead to Double Down on APAC Expansion

Fintech News

additiv, a Swiss-based fintech firm specialising in embedded finance solutions, has announced the appointment of Anurag Pandey as its new General Manager and Head for the Asia Pacific (APAC) region. Pandey is set to focus on expanding the company’s reach in the APAC market, utilising additiv’s finance-as-a-service model. This model aims to assist both financial and non-financial companies in improving efficiency and tapping into new opportunities through integrated financial services

APACS 103
article thumbnail

eCommerce in 2025: How Customer Experience Drives Online Retail Success

Speaker: Jennifer Wright and Nick Barron

2025 is right around the corner, and with it comes a new wave of consumer expectations, competitive pressures, and operational challenges. Success lies in finding the balance between operational flexibility and creating experiences that keep customers coming back. The future of retail belongs to those who can stay ahead of shifting customer preferences and marketing trends. 🔮 In this session, we’ll dive deep into what it takes to keep customers engaged and your operations nimble, no matt

article thumbnail

Wear OS adds boarding pass support

NFCW

ON HAND: ‘My United boarding pass just showed up on my Pixel Watch 2,’ said Reddit user Fuel13 Google Wallet can now display airline boarding passes as QR codes on Wear OS smartwatches. The new feature, noticed by a Reddit user who took the picture that accompanies this article, means that travelers won’t need to take their phones out to pass through the boarding process electronically, and can instead flash their wrist at a QR code reader.

Process 86
article thumbnail

Sequoia-Backed Aspire Reportedly Gets US$79M Funding From US Holding Firm

Fintech News

Singapore-based B2B fintech firm Aspire has received US$79.15 million in funding from its US-based holding company, according to latest filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA) obtained by DealStreetAsia. According to the ACRA filings, this investment will be facilitated through the allotment of 15.8 million ordinary shares and 63.3 million redeemable preference shares.

article thumbnail

The FRC’s Corporate Governance Review: What You Need to Know

FloQast

In May 2023, the Financial Reporting Council (FRC) published its consultation on the UK’s Corporate Governance Code. The consultation set out proposals for a range of legislative and governance reforms to be implemented in the Code in 2024, including the introduction of a new regulatory body, known as the Audit, Reporting, and Governance Authority (ARGA), which would replace the FRC.

article thumbnail

Trust Bank Upgrades Loan Service With 60-Second Approvals, Flexi Repayments

Fintech News

Singapore’s digital bank Trust has upgraded its Instant Loan service , enabling existing credit cardholders to secure loans in about 60 seconds through a three-click process in the app. This update is part of the company’s efforts to streamline its loan approval procedures. Since its launch last July, the Trust Instant Loan has incorporated customer feedback, leading to several new features.

article thumbnail

7 Essential Criteria for Choosing the Right Payments Partner

Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms

In this webinar, Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms, will dive into the 7 must-have criteria for evaluating payments partners, helping you maximize both efficiency and the long-term value of your investment. From assessing technology capabilities to leveraging business development opportunities, this session will give you a clear, actionable strategy to select the right partner for scaling your business.

article thumbnail

Citizens to deliver on AI, data analytics in 2024

Bank Automation

Citizens Bank is looking toward AI and generative AI technology to improve operational efficiency and client experience. The $222 billion bank has “many exciting things on our technology, our digital, data analytics and AI road map that we need to deliver on,” Chief Executive Bruce Van Saun said during the bank’s fourth-quarter earnings call today.

AI 80
article thumbnail

Google Pay and NPCI Join Forces to Expand UPI for Indian Travelers Abroad

Fintech News

Google India Digital Services and NPCI International Payments (NIPL), a subsidiary of the National Payments Corporation of India (NPCI), aim to provide Indian consumers with more flexibility in making digital payments overseas. This collaboration, formalised through a Memorandum of Understanding (MoU), seeks to extend the Unified Payments Interface (UPI) beyond India.

article thumbnail

Amazon, Andreessen Horowitz seek exemptions on proposed CFPB rule

Payments Dive

The e-commerce giant and investment firm asked for carve-outs for Amazon Pay and non-fungible tokens, respectively.

CFPB 88
article thumbnail

Singapore Made Up 59% of ASEAN Fintech Deals in 2023 Amid Funding Winter

Fintech News

In the recent past, Singapore’s fintech sector has emerged as a beacon of innovation and growth within the ASEAN region. However over the past year, the fintech sector in Singapore, reflecting global trends, is currently experiencing a significant funding slowdown. This period, often referred to as a ‘funding winter’, has seen levels of fintech funding in both global and ASEAN markets drop to their lowest since 2020.

FinTech 92
article thumbnail

Loyalty 101: How To Turn Browsers Into Buyers For Lasting Engagement

Speaker: Shaunna Bruton, Danielle Wyllie, and Kailey Holmes

Say goodbye to one-size-fits-all retail, and say hello to experiences that keep your customers coming back for more! Customer loyalty isn’t just earned - it’s cultivated through meaningful engagement with the help of data. This webinar will take you behind the scenes of how top retailers turn customer data into personalized experiences that drive engagement and retention.

article thumbnail

No 2. The Evolution of Core Banking Technology – From Mainframes to Beyond Cloud

Finextra

To understand why coreless banking is such a paradigm shift, we must travel back in time and track t.

article thumbnail

Q4 transactions: Ally, Microsoft team up on gen AI

Bank Automation

In 2023, financial institutions continued to look to third-party vendors for innovative solutions to enhance their offerings. A December report by Scottdale, Ariz.-based bank and fintech advisory company Cornerstone Advisors of Arizona said U.S.

article thumbnail

India partners Google Pay to take UPI global

Finextra

India's NPCI is joining forces with Google Pay to bring its hugely popular Unified Payments Interface (UPI) to other countries.

article thumbnail

U.S. Bank tech spend up 12% to $513M

Bank Automation

U.S. Bank made digital and operational investments during the fourth quarter as it focused on modernizing payments and technology. The $668 billion, Minneapolis, Minn. bank spent $513 million on technology and communication during Q4, up 12% year over year, according to its Q4 2023 earnings presentation. U.S.

Process 72
article thumbnail

Enhance Customer Value: Unleash Your Data’s Potential

The complexity of financial data, the need for real-time insight, and the demand for user-friendly visualizations can seem daunting when it comes to analytics - but there is an easier way. With Logi Symphony, we aim to turn these challenges into opportunities. Our platform empowers you to seamlessly integrate advanced data analytics, generative AI, data visualization, and pixel-perfect reporting into your applications, transforming raw data into actionable insights.

article thumbnail

X gains money transmitter approval in Utah

Payments Dive

X has been collecting money transmitter approvals in recent months to launch peer-to-peer payments in the app.

article thumbnail

Bitget Begins ‘Bridging the Gender Gap’ in Blockchain With New Incubation Programme

The Fintech Times

While the financial industry makes gradual progress with increasing inclusivity, it is clear that significant gender bias persists. Recognising this, crypto exchange Bitget has launched a new initiative to promote gender diversity and inclusivity in the blockchain industry: ‘Blockchain4Her’ A recent Bitget study revealed limited gender diversity in the blockchain funding market, indicating that female-led blockchain startups secured only six per cent of the total funding.

article thumbnail

Supply Wisdom Unveils Self-Service Real-Time Risk Intelligence Platform

Finovate

Supply Wisdom unveiled its self-service, SaaS-based model that gives organizations the ability to conduct real-time risk monitoring. The new capabilities come in the wake of the firm inking partnerships with three Fortune 100 companies. Supply Wisdom made its Finovate debut in 2022 at FinovateFall in New York. Today, Supply Wisdom launched a self-service, SaaS-based model that delivers real-time risk monitoring capability to organizations.

Risk 64
article thumbnail

72% of E-Commerce Entrepreneurs in Poland are Confident for Year Ahead, Conotoxia Finds

The Fintech Times

Seventy-two per cent of Polish e-commerce entrepreneurs expect to see an increase in revenue in 2024 compared to 2023, according to a report by fintech firm Conotoxia. The expectations highlighted in the ‘ Global e-commerce in 2024 – Business opportunity or challenge for Polish companies? ‘ report by Conotoxia also align with analysts’ economic forecasts – which suggest consumption will pick up in the coming months and become one of the drivers of economic growth ag

PayPal 69
article thumbnail

Top Strategies to Future-Proof & Sustain Your Merchant Services Portfolio

Build a sustainable merchant services portfolio with practical strategies to ensure long-term success. Diversify across industries to spread risk and stabilize income, balancing high-risk and low-risk clients for a robust mix. Combine large and small merchants to create a resilient payment portfolio, leveraging each type's strengths. Foster long-term relationships through exceptional service and personalized support.