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With 44% of UK adults facing financial vulnerability, a national strategy seeks to close the gap through policy, innovation, and education. In December 2024, HMT announced the appointment of a FinancialInclusion Committee, tasked with advising the government on developing the first-ever National FinancialInclusion Strategy.
Southeast Asias fintech industry is flourishing, driven by soaring adoption of digital payments, alternative lending, and wealthtech. It notes that while COVID-19 accelerated the digital shift, Asia-Pacific (APAC) still face significant financialinclusion challenges with 820 million unbanked and 1.8 billion underbanked adults.
Yet, as the country opens its doors to the world with a commitment to sustainability, it is also embracing digital innovation to reshape its financial sector. Financial services, digital and fintech An account from the Asian Development Bank (ADB) illustrates the state of Bhutan’s financial services sector around 2010.
However, the AFC , on its mission to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy, has taken issue with this proposal suggesting it is overregulating the market, and could potentially impact the freedom of regulation.
The fintech unicorns in Asia are moving to reshape the very fabric of how people and businesses interact with money. From digital payments to decentralised finance (DeFi), these companies are solving real-world challenges like financialinclusion and cross-border transactions, while setting new global standards for innovation.
A Tracxn Technologies report highlights that the Southeast Asia fintech ecosystem experienced its zenith in 2021, marking the highest annual equity funding in the last decade. A visual overview of the SEA fintech sector’s funding trajectory from 2017 to 2024, showcasing the sharp decline after a record-breaking 2021.
Vietnam is undergoing a transformation and moving towards becoming a cashless economy, a shift that has been driven by innovativefinancial solutions and public initiatives, a new report by Chiming, a market research firm focusing on Vietnam and Indonesia, shows. This ecosystem is expanding rapidly. rate in 2023.
equity stake in Jingle Pay , one of the fastest growing fintechs in the MENAP region. The Bank’s fintech investment underscores its commitment to driving digital transformation and fostering financialinclusion across key markets. Jingle Pay was recently awarded the top global fintech for remittances into Pakistan.
In many regions, they create jobs, drive innovation, and stimulate local economies. Yet, they often face financial challenges, struggling to access credit, manage cash flow, and navigate complex financial systems. Fintech solutions are changing this landscape, offering SMEs tailored tools to overcome these barriers.
This week’s edition of Finovate Global features news from the fintech industry in Nigeria. Africa’s newest fintech unicorn raises $110 million African fintech Moniepoint is the continent’s latest fintech unicorn. The Nigerian fintech is one of seven African startups to make this year’s list.
Kenyan fintech startup Leja has achieved remarkable growth, processing $2 billion in B2B payments since launching its B2B payments service in Kenya earlier this year. On the lending side, we plan to expand our reach from 5% to 20% by partnering with financial institutions and NGOs to bridge the MSME credit gap.
Payments giant Mastercard is expanding its collaboration with Paymentology , the global issuer processor, to facilitate card issuance for fintech companies in South Africa. “We are equipping fintech companies with market-relevant solutions that enable them to scale effectively. .
The future of payments is digital, inclusive, and transformativedriving financial access, innovation, and global economic empowerment. The global financial landscape is undergoing a profound transformation. trillion business opportunity by 2025.
It underscores Visa’s commitment to supporting fintechinnovation and financialinclusion in the region.” ” The post Cake by VPBank Leverages Visa for Cloud-Based Card Management appeared first on Fintech Singapore.
Network International (Network), a leading payment solutions provider in the Middle East and Africa, has signed a memorandum of understanding (MOU) with GIM-UEMOA , the regional payment scheme which promotes electronic payments across the banking, financial and public administration sectors in West Africa.
The Monetary Authority of Singapore (MAS) and the Singapore Fintech Association (SFA) have launched a global call for nominations for the 2025 Singapore Fintech Festival (SFF) Fintech Excellence Awards. Meanwile, three individuals will be selected for the Fintech Mentor Award.
Nigerian fintech Moniepoint has secured investment from digital payments giant Visa , enabling it to continue its mission to ensure financialinclusion for people across Africa. We are excited to support their next phase of growth and innovation.
The Saint James Municipal Corporation and Mastercard have announced the signing of a Memorandum of Understanding (MOU) designed to foster digitalization as a catalyst for financialinclusion in the municipality.
PayMint , a leading financial technology company, has announced that it has obtained final approval from the Central Bank of Egypt to launch its first Meeza prepaid cards in partnership with Abu Dhabi Islamic Bank Egypt (ADIB-Egypt).
HyperPay is a leading company in the financial technology sector, aiming to support the transition to a less cash-dependent society by offering innovative payment solutions and advanced financial services that meet market needs and future aspirations.
Network International (Network) ( www.Network.ae ), a leading enabler of digital commerce across the Middle East and Africa (MEA), has been appointed as a Payment Processor – Issuing partner for MTN Group Fintech, Africa’s leading mobile financial services provider.
The report highlights key milestones, insights, and the organizations transition into an independent foundation, further strengthening its ability to drive financialinclusion across the continent.
A new whitepaper titled The Future of Global Payments & Fourth Generation Payment Networks (4GPN) has been jointly released by the Thunderbird School of Global Management and fintech firm Wiseasy. The global digital payments market is expected to grow from US$10.18 trillion in 2024 to US$32.07
Ecobank Group and Google Cloud have announced a strategic collaboration to improve financialinclusion and digital innovation across Africa. The Ecobank Google Cloud partnership brings scalable technology to the forefront of financial services on the continent.
By bringing local currencies “onchain,” he said, blockchain technology simplifies onboarding, providing users with seamless access to digital financial systems without requiring them to fundamentally rethink their existing relationship with money. Stablecoins also address financialinclusion challenges.
Catch up with Finovate VP and host of the Finovate Podcast Greg Palmer as he interviews some of the most interesting entrepreneurs, analysts, and thought leaders in fintech today. The technology is purpose-built to support the demand of businesses and traditional financial institutions.
Fintech is playing a pivotal role in the economic growth of Armenia, Azerbaijan, and Georgia. With advancements in payment systems, blockchain exploration, and digital currencies, these nations are harnessing technology to transform their financial landscapes and drive future development.
Outlined under Decree 94 issued on 29 April, the initiative introduces a regulatory sandbox for fintechinnovations in the banking sector, set to begin on 1 July. The pilot is designed to evaluate emerging financial technologies under controlled conditions while balancing innovation with risk management.
Ghana’s fintech landscape is rapidly evolving, characterized by high mobile phone penetration and a robust mobile money ecosystem. Remarkably, 60% of foreign exchange is received through mobile money platforms, demonstrating the critical role they play in the financial lives of Ghanaians.
Indonesian fintech company JULO has launched a new feature to ensure quick loan disbursement, introducing the “Instant Disbursement Guarantee.” The card allows users to manage various expenses, including e-wallet top-ups and healthcare payments, aiming to enhance financialinclusion in a market with low credit card penetration.
In 2024, Indonesia’s fintech scene reached new heights, with one of the top highlights being. This milestone marked a pivotal moment for the country’s financialinclusion efforts. The roadmap aims to advance the development and strengthening of digital finance assets, financial sector innovation, and crypto assets.
Fintech is transforming financial services across Asia at an unprecedented pace. With rapid digital adoption, evolving regulations, and AI-driven innovations, the region is at the forefront of global fintech growth. The Asia-Pacific fintech market is projected to reach USD $171.32 billion by 2029. billion by 2029.
Network International (Network) ( www.Network.ae ), a leading enabler of digital commerce across the Middle East and Africa (MEA), has been appointed as a Payment Processor – Issuing partner for MTN Group Fintech, Africa’s leading mobile financial services provider.
BKN301 Group , a London-based digital payments and banking-as-a-service (BaaS) solutions company, is organising a series of roadshows to drive financialinclusion. This is critical to the growth of the regional financial sector, where both individuals and businesses can thrive by adopting cutting-edge fintech solutions.
This launch operationalises the partnership established in 2022, aimed at promoting intra-African cross-border trade and enhancing financialinclusion. The service improves financial interoperability by making transactions faster, more convenient, and cost-effective for small and medium-sized enterprises (SMEs) and individuals.
The ninth edition of the Singapore Fintech Festival (SFF) wrapped up on 8th November, concluding a dynamic week-long of celebration of fintech that brought together tens of thousands of participants from around the world. The year’s conference featured an impressive lineup of over 900 speakers across more than 400 sessions.
We often explore how fintechs are changing the banking and payments landscapes, and sometimes look into how their solutions are supporting financialinclusion and helping people develop healthy financial habits. Sending cross-border payments, for example, often comes with heavy processing costs and conversion fees.
Nguyen Huu Quang Nguyen Huu Quang, CEO of Cake said, Cake Digital Bank’s significant profitability milestone reflects our unwavering commitment to innovation, customer-centric services, and sustainable growth. The post Vietnam’s Cake Digital Bank Marks Profitability Milestone After 3 Years appeared first on Fintech Singapore.
Latin America remains a strategic priority for Paysend, as the region accounts for over $150 billion in annual remittance flows globally, and a population where over 70% of adults are either underbanked or unbanked, creating a significant opportunity to drive financialinclusion.
Thunes has won the Thunes Best Payment Solution Award at the 2025 Asian Banking & Finance Fintech Awards, making its name as a great place to make payments across borders. It’s a great honour to be recognised here in Singapore, a global fintech hub that embodies the spirit of innovation shaping our region.
I hope that today’s call to action acts as a pivotal moment in driving financialinclusion across the sector. The campaign is also supported by Nationwide, Project Nemo, Innovate Finance, West Midlands Police, and Alzheimer’s Society. Full collaboration from the sector is needed.”
If applied successfully, Agentic AI could revolutionise financial services by introducing higher levels of autonomy, efficiency, and adaptability. In this article, we cover the developments between Agentic AI in fintech and possible use cases, giving a glimpse into how financial services could look like in the near future.
José Gedeón, CEO and co-founder of Cobre Cobre plans to grant early access to its customers, a group that includes major retailers, fintechs, and logistics providers. “At At Cobre, we believe innovation should go beyond the buzzword. That’s why we’ve worked hard to bring real-time to enterprise payments in Colombia before anyone else.
Mukaya Tai Panich “At SCB 10X, we believe that participating in BOT & SEC regulatory sandbox will be a significant move for financialinnovation to global financialinclusion as well as the Thai digital asset ecosystem. The pilot programme will run from 5 to 25 November 2024, coinciding with Devcon 2024.
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