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 reports have taken a new twist as H&M has denied setting stores in the metaverse.
Bill Barhydt, CEO of crypto exchange Abra, predicted that Bitcoin has a good chance of hitting $100,000 in 2022.
Swift is seeking to support both traditional and tokenized asset flow. For now, they will focus on only the regulated assets.
While Colbeci is planning to begin working for Checkout.com from his office in San Francisco, California, he intends to move out to Europe in due time.
Both parties will benefit from the partnership. Nuvei will expand its influence and strengthen its reputation after last week’s failure on the market. Meanwhile, FTX will offer its users access to Nuvei’s advanced payment solutions, allowing them to buy cryptos much faster.
Payroll services provider Deel says contractors now have the option of choosing to receive salary payments in USDC and Solana.
The blockchain platform allows the facile transfer of funds and trade without the interference of CLS, a specialist US financial institution that provides settlement services.
Using its deep experiences in blockchain development, Ava Labs is billed to be a great addition to the broad suite of enterprise use cases Mastercard is hoping to pioneer using distributed ledger technology.
WhatsApp is testing a new crypto feature that facilitates sending money as seamlessly as sending a chat using Pax Dollar (USDP).
The fledgling startup sector in Europe has seen trailblazing growth over the past couple of years in funding, with more than 300 unicorns.
Earlier, WeChat customers could not send or forward links of products on Alibaba’s Taobao on the messaging platform.
HSBC already provides an online investment advice service in the UK. However, with a new feature, HSBC could efficiently compete against other financial tech firms, such as FreeTrade and Revolut.
Thought Machine is on a journey to bring in a new area of modern digital cloud-based banking.
The report identified the total number of transactions as the first factor which is described as the most variable-dependent.
Using Nobly’s POS system for the hospitality industry, businesses are able to make orders and manage their inventory.