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.
Top crypto companies rank amongst the largest Fintech companies in America despite market challenges.
Monzo hit profitability after its lending volume for the period ending February 2023 ballooned to £759.7 million.
Transak said that the funds raised will go towards global expansion by building onboard solutions, financial applications, as well as Web3 games.
Swedish fintech mainstay Klarna cut its Q1 net loss to $120.7 million while boosting operating income by 22% YoY.
Starling CEO Anne Boden agrees to step down from the role at the British neobank next month over ‘conflict of interest’ concerns.
Strike will be hoping to leverage Tether’s stability as a reliable store of value to appeal to more clients globally.
Amid financial scrutiny, UK fintech giant Revolut faces rejection for its long-running banking license application.
Revolut believes that license would help to ensure higher consumer confidence.
Zepz, however, noted that it is hiring more than 200 new roles including software developers, managerial positions and marketing roles, among many others.
Despite suffering a market cap setback in its fiscal Q3 of 2023, fintech platform Affirm expects full-year revenue of $1.56 billion.
Visa is working with its partners to launch programmable CBDCs thereby optimizing capital flows to SMEs.
The Stripe-hosted onramp was created with Web3 companies in mind. It is designed to cater to their varied use cases.
The partnership with Uber comes as Stripe started experiencing slower growth.
The partners assured customers they could reach their financial ambitions starting with as little as €1.
Klarna seeks to leverage the power of AI for offering curated shopping experiences to customers while also introducing TikTok features and new tools for advertisers.