Payments Service Klarna Adopts ChatGPT Technology, Here’s How It Plans to Use It
Klarna will leverage the best technology and data to help people discover new products.
FinTech News
Find latest news about FinTech - the technology that drives the development of financial applications, processes and products revolutionizing the way we live
Mastercard Partners Australian Fintech Stables to Enable Stablecoin Payment
The collaboration between both entities to enhance USDC payment might attract some forms of skepticism owing to the Fear, Uncertainty, and Doubt (FUD) surrounding Circle, USDC, and the exposure to the three US banks that collapsed in the past week.
US Federal Reserve Set to Float FedNow Payment Service in July
With the emergence of the FedNow payment system, the need for a digital dollar is now being pushed back to the sidelines by the Fed leaders.
SWIFT Is Moving to Phase Two in Its CBDC Tests
The firm said it is advancing to the second phase because of the satisfactory results it got from the first phase of trials.
Crypto Funding Turns from CeFi to DeFi Following Major Collapses
By
Sanaa Sharma
According to the report, the numbers prove that Decentralized Finance is the new high-development and growth area for the crypto space. The report also suggested that a dip in Centralized funding projects was seen because of a possible saturation in the sector.
Bitso and Mastercard Launch Crypto Debit Card for Mexican Customers
The crypto debit card introduced by Bitso will have worldwide utility.
Nubank to Roll Out Nucoin to Brazilian Customers
Customers who receive the loyalty tokens will be able to decide how they want them to be used, with several options available.
Revolut Reports First-Ever Annual Profit amid Stagnating Tech Industry
By
Tolu Ajiboye
The reported first-ever annual profit by Revolut follows the fintech giant’s January decision to suspend launching RevCoin.
UK Announces £5.5M Program in Support of Fintech Industry
The newly announced hub, dubbed the Centre for Finance, Innovation, and Technology, is designed to unify talents across all fields in support of the fintech space.
Sequoia and a16z Make More Investments in Fintech than in Any Other Sector in 2022
By
Tolu Ajiboye
Leading VC giants Sequoia & a16z undertook several investments in the fintech space in 2022, more than any other sector.
Financial Technology News
The word “fintech” is derived from “financial technology” which means the integration of technological tools and innovations into financial operations in order to enhance and automate the financial processes. Fintech is used to assist financial institutions, businesses in the management of their operations to provide better services to their customers. As the industry of fintech is actively evolving, there is no surprise at all that the news from this sphere can attract wide attention.
Adoption of fintech by a company would mean a significant change to their mode of operations as it involves the use of specialized algorithmic models, mobile applications and dedicated computer software packages.
At its initial introduction stage, companies from a range of industries including banking, education, fundraising, health, venture management, etc. only used fintech for back end systems where they get absolute and full control. Nowadays, most industries have started using the innovation for consumer-oriented services in an attempt to serve their clients better while increasing the transparency in their operations.
Impact of Fintech News
As we move towards a significantly digitized world, from the introduction of the internet to social media, smartphone evolution and now blockchain technology, the need for adoption of cryptocurrency cannot be overemphasized. As the underlying framework of pioneer cryptocurrency bitcoin, the blockchain is a vital part of fintech. We’ve seen a number of blockchain-powered fintech apps being employed by banking industries and data inclined platforms.
Fintech has become a major part of the finance space in recent years, this points to the fact that major conglomerates have identified and prioritized its importance in growing their businesses. Fintech works closely with other new technologies such as data-driven analytics and marketing, machine learning, artificial intelligence, etc.
Coinspeaker presents the best and latest Fintech news, ranging from its use in cross border payments, startup business fundraisers, venture management, credit application, to remote banking, as investors and stakeholders’ awareness about the innovation continues to rise daily.
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