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.
Goldfinch aims to solve the issue with overcollaterization in the DeFi space while bringing together creditworthy loan providers and borrowers.
Six Clovers will be challenging the traditional SWFT banking systems by offering decentralized modern financial infrastructure solutions that can move money across the globe in the blink of an eye.
Ramp is building in the cryptocurrency ecosystem, which Paypal has been able to enshrine in the world of ecommerce.
The news about investing in Nubank comes as a surprise due to Warren Buffett’s known reservations against and aversion to Bitcoin and crypto in general.
The addition of new digital assets means Revolut continues its march towards a super app status even as it warns its clients to exercise caution in trading due to the volatility of crypto prices.
The integration of Coinbase Card with Apple Pay and Google Pay will use tokenization to maintain the security of sensitive card information and allow safe purchases.
The payments network Flexa plans to achieve net-zero emissions for all activities by 2025.
Apple’s job posting for hiring an executive with expertise in cryptocurrency sparks curiosity in the crypto community of whether Apple has started taking baby steps of its larger goals of dabbling into the digital asset ecosystem.
According to Ripple, BankDhofar customers will be able to send and receive up to 1,000 rials ($2,600) to accounts in India.
The Eco FinTech wallet app aims to be an all-in-one platform that replaces the traditional banking systems and leverages the partial crypto functions for its lending business.
The $900 million funding makes Trade Republic one of the biggest private fintech firms in Europe.
DeFi continues to gain momentum as more in and outside the crypto world understand its immense potential. Take a look at some of the most promising DeFi projects.
The investments from the $50 million fund will be allocated during a three-year period. Startups building on Nervos will receive an initial investment of between $200,000 and $2,000,000.
The NBE and LuLu Exchange partnership with Ripple comes as one of the latest pieces of evidence that the company’s business is healthy and growing.
Digital assets currently hosted on the Singapore-based bank’s digital asset exchange are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and XRP.