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.
Stripe will now offer debit cards, bank accounts and other products to online merchants and vendors who use its payment processing platform.
Despite the regulatory scrutiny, Spotify has shown willingness to work with Facebook on its Diem project (previously Libra). Besides, the job posting also hints at the company’s willingness to work on the CBDC developments in the crypto industry.
Schulman believes that users’ ability to buy, sell and hold crypto strengthens the value of the cryptocurrency.
As part of its Fast Track program, payments giant Visa is working with Circle to integrate the USDC stablecoin making it simpler for businesses worldwide to make instant payments in USDC.
However, the survey revealed that PayPal has a challenge with making non-Bitcoin traders grow interests in digital assets.
The rewards credit card users will receive 1.5% back on all purchases made using the card to be launched in Q1 2021.
The new Alfa-Bank new service will be divided into two applications: the Alfa.Corporate and My Income app.
It comes only a year after Ripple announced its partnership with MoneyGram getting a 17% stake in the company’s outstanding shares. Over the last year, Ripple has reportedly paid around $52 million to MoneyGram.
Fintech continues to dominate the world these days. We offer you to take a closer look at the countries that have managed to become leaders in this sphere.
Recently, the Chinese regulators subjected the likes of Tencent Holdings Limited (OTC: TCEHY), Meituan (OTC: MPNGF), and Alibaba Group under critical scrutiny.
Y Financial’s index token holders have robust opportunities to voice their opinion. Each YFIN index token holder is eligible for YDOT governance tokens at a 1:1 ratio.
MUFG will be able to harness its existing financial services to drive the mainstream adoption of the network.
According to the CEO of the company, Ham Serunjogi, Chipper Cash has partnered DriveWealth, a US-based services company to provide access to its users starting from those based in Nigeria to purchase U.S stocks.
While Airbnb has had its tough times with its hosts amid an extenuating refund policy, the company’s public listing move represents significant growth for it in a highly competitive industry.
BONDED.FINANCE successfully closed its Private Sale round, raising $2.25 million USD in less than a week. The public sale offering will take place on November 15th.