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.
PayPal has finally enabled crypto payments for millions of merchants allowing users to checkout with crypto. The payments giant also has big plans ahead for NFTs.
Voyager Digital has launched USDC-linked debit card in an attempt to appeal to a broader customer base with annual rewards.
The new Ripple Liquidity Hub will allow financial players to offer services across multiple cryptocurrencies like BTC, ETH, LTC among others.
Amazon reached an agreement with Venmo for customers to use the mobile payment platform as a checkout option on the e-commerce giant’s platform.
ING has commenced working with the Netherland Authority for the Financial Markets on a trial of its peer-to-peer DeFi lending protocol.
Mastercard wrote that consumers and businesses in the Asia Pacific region will have access to apply for crypto cards.
The recent JUMO funding round comes amid increased interest from US investment and financial institutions in African fintech.
UK Fintech company Revolut begins hiring for a technical lead to architect a crypto exchange.
Leading fintech Kakao Pay experienced a 156% surge in share price on its trading debut with shares hitting 230,000 won.
Starling has caught the eyes of JPMorgan and Barclays that showed interest in acquiring the digital bank. Starling Bank, however, has declined the requests.
The Mastercard CEO, Michael Miebach, is confident that the company is ready to offer its service when governments begin to issue CBDCs.
The new Zolve funding will help the company expand its offerings as it realises that many customers uses it as their primary accounts.
Stripe and Klarna are collaborating in 20 countries to offer Klarna’s BNPL service to enter the competitive and popular repayment sector.
With the 2.8 billion Mastercard users globally, the announcement could skyrocket the adoption of Bitcoin and altcoins.
The fintech company is looking to create more awareness for digital banking among US citizens. Revolut US CEO Ron Oliveira also said slashing fees would empower its US customers to attain financial freedom.