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.
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.
The decision to integrate Google Pay is to reiterate Crypto.com’s mission of democratizing access to digital currencies as the move into the future of Web3.0 intensifies.
The launch of the online payment system is the latest in a series of moves by the fintech firm to expand.
PicPay follows in line with other big-name Brazilian companies trying to maximize the potential of the crypto sector.
Sebastian Siemiatkowski, Klarna CEO, made an effort to downplay the impact of the company’s drop in valuation. Siemiatkowski stated the current position is a “testament to the strength of Klarna’s business.”
Revolut remains convinced that the lessons will be relevant to all crypto users, regardless of their expertise level.
In addition to improving payment options, Stripe and Revolut will also explore opportunities to expand their partnership and create new payment products.
Not so long ago Klarna was planning to raise $1 billion, which would bring its valuation to a 30 billion range.
Samsung plans to expand the Wallet’s functionality to store official identification cards like student IDs and mobile driver’s licenses.
The PayCargo platform is providing a seamless way for companies in the business of shipping and cargo services, to pay each other.
Crypto payment gateway Nume Crypto generated funding from a host of VC firms to offer upcoming products NumePay and NumePay Business.
As JPMorgan has explained, it believes that integrating DeFi products will further grant its institutional clients more connections to the digital assets world.
Mastercard is putting more work into floating a seamless NFT payments services and has recruited a few crypto partners to help.
Boden said companies offering cryptocurrency services still have a very long way to go when it comes to implementing Anti-Money Laundering (AML) checks.
Checkout.com announced its stablecoins move amid the general crypto fiasco. Major crypto assets have plunged substantially from their ATHs last year, and Bitcoin has lost over 50% from its record high.
In addition to Buy Now, Pay Later feature, a lot of other updates have been announced, including the addition of new functions in Safari, Siri, Apple Maps, Apple News, Fitness, and Health.