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Tranglo, a leading cross-border payment hub, has expanded its footprint in Africa, now supporting payouts in Ethiopia, Kenya, Liberia, Madagascar, Mali, Senegal, and Zambia. High remittance fees have historically hindered financialinclusion in the region. to send USD 200.
Cross-border payment hub, Tranglo , has expanded its footprint in Africa, now supporting payouts in Ethiopia, Kenya, Liberia, Madagascar, Mali, Senegal, and Zambia as it continues to aim to boost financialinclusion by providing efficient, affordable cross-border payment solutions to the region. per cent in 2024.
Not because it’s free, but because the payments were seamlessly integrated into the apps you’re using. In simple, layman’s terms, embedded finance is when financial services – like payments, loans, or insurance – are integrated directly into non-financial platforms. You’re probably using it every day.
These banks introduced formal ledger-based accounting and cheque payments. Cheque System: The cheque emerged as a formal payment instrument, requiring physical movement and manual clearing processes. This was a significant step towards non-cash payments but was slow and prone to errors.
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. billion payments Coda 2.5 billion payments, gamification Airwallex 5.5 billion insurtech Matrixport 1.05
From open banking to open finance and beyond: The future of financial data-sharing March 18 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? As data becomes the currency of modern finance, payments leaders are facing a profound transformation. Why is it important? What’s next?
In practice, this means banks expose certain data (like account balances or transaction history) through open APIs, but only when you, the customer, give consent. The result was an explosion of fintech apps offering budgeting, lending, payments, and investment services that leverage multiple banks’ data.
Fintech, or financial technology, is the integration of technology into financial services. This includes services like mobile banking, peer-to-peer payments, investment platforms, and blockchain applications. Payments and Transfers This is the most mature segment. What Is Fintech? Essential for open banking.
For financial services, especially those addressing underserved markets, the stakes are even higher. AI must be both inclusive and explainable —capable of reaching those locked out of traditional credit systems, while remaining transparent and accountable. This is the dawn of always-on, always-fair credit decisioning.
Borrowers can now apply for loans, track progress, and make payments through digital platforms and mobile apps, eliminating the need for physical branches and banking hours. This accessibility benefits those in remote areas or with busy schedules, ensuring financial services are within everyone’s reach.
EAZY Financial Services ‘EazyPay’, a Bahraini financial institution specialising in point-of-sale (POS) and online payment gateway acquiring services, has teamed up with Tarabut , the MENA region’s regulated open banking platform. Balint has held senior roles at Afterpay, amaysim, Ola and Optus.
Home Announcements Payments Pay10 secures Bank of Bharain licence External This content is provided by an external author without editing by Finextra. The Pay10 Bahrain licence lets the fintech company offer payment solutions that are compliant with regulations and work in real time to help the Kingdom reach its digital transformation goals.
This April, The Fintech Times is focusing on all things embedded finance, the integration of financial services into non-financial products and services. Continuing our BaaS focus at the beginning of April, we asked industry leaders about how they’re seeing BaaS driving financialinclusion worldwide.
Paymentology , the global issuer-processor, has joined forces with Diamond Trust Bank , a tier-one East African commercial bank, in a move hoping to help drive financialinclusion in Kenya through the embedding of financial services, and deployment of Cards-as-a-Service (CaaS).
Tranglo , a leading cross-border payment hub, continues its expansion across Africa with the addition of 10 new payout countries: Benin, Cameroon, the Democratic Republic of the Congo, Gambia, Guinea, Guinea-Bissau, Ivory Coast, Malawi, Rwanda, and Tanzania. With the latest expansion, Tranglo now supports payouts to 25 African countries.
Among the sectors affected is the payment processing industry , which has undergone rapid transformation in response to the unprecedented challenges posed by the pandemic. This article covers the impact of COVID-19 on payment processing, supported by data and statistics that highlight the scope and scale of these changes.
These awards highlight companies and individuals whose fintech initiatives have contributed to advancing financial technology, promoting financialinclusion, and improving service delivery. The company replaces traditional B2B payment methods (e.g. Thitsa Payment Portal is a web-based platform integrated with Mojaloop.
Wink Pay , a newly-launched digital payments brand in Lebanon, has collaborated with Visa , the world leader in digital payments, and Codebase Technologies to introduce the country’s first fully-digital onboarding and instant card issuance proposition for Visa prepaid virtual cards.
“The anticipated increase in adoption, diversification of services, and the continued growth of open banking payments signal a significant transformation in the financial sector. “Regulators and policymakers are also taking note of the transformative power of open banking payments. .
The backbone of Open Finance is a sophisticated, scalable digital framework, encompassing cloud computing solutions, contemporary core banking systems, and API management services. Regulatory changes across the region encourage the adoption of Open Finance by fostering innovation, competition, and financialinclusion.
SDK.finance , a white-label Lithuanian fintech platform for digital payments, has partnered with Salt Edge , the open banking solution provider, aiming to help fintechs of all sizes develop open banking-enabled financial services and applications.
TerraPay , a global leader in digital cross-border payments, today announced that it has been granted a Class B license by Bank Negara Malaysia (BNM). It also empowers TerraPay to deepen its collaboration with local financial institutions and fintechs, offering them access to its robust, interoperable, and API-driven payment infrastructure.
UPI Circle, introduced by NPCI, enhances digital payment accessibility by allowing primary users to add family members or friends as secondary users. UPI Circle streamlines access to digital payments and simplifies the adoption of formal banking systems for millions of unbanked individuals. What is UPI Circle?
Xendit – US$538 million Payment startup Xendit has secured about US$538 million in VC funding to date, data from Dealroom and media coverages show, making it the top funded fintech startup in Indonesia in 2024. Founded in 2014, Xendit is a fintech company that provides payment solutions and simplifies the payment process for businesses.
Companies that fail to integratefinancial services into their ecosystems risk falling behind. Embedded consumer payments have already proven the transformative power of embedded finance, streamlining transactions, boosting conversions, and fueling revenue growth. Deloitte, “ Driving Inclusion via Embedded Finance ”, 2024.
This growth has created major opportunities in the payments space, and companies like Stripe — the payments unicorn valued at a masive $35B — are hungry to capitalize on them. Specifically, the Collisons aimed to more seamlessly connect online businesses and payment processors, allowing more businesses to accept online payments.
Neem , a leading embedded finance platform in Pakistan, has entered a multifaceted partnership with Mastercard , a global technology company in the payments industry. The strategic multi-year collaboration will enable financial wellness for Pakistan’s underserved communities.
Nearly 96% of fintech companie s are making financialinclusion a priority, proving that innovation is all about the people, not the tech; the driving force behind the fastest-growing Asia Pacific fintechs. Capri Loans leverages advanced technology in its processes and has recently integrated business analytics too.
Another session that caught our eye on the Vision stage included ‘Connecting for Change: MUFG’s Strategy for Fintech Integration’, a presentation and discussion with Masakazu Osawa , managing executive officer and chief executive, APAC at MUFG Bank, which outlined how MUFG identifies and collaborates with promising startups.
Our approach is tailored to the needs of underserved markets and clients. Once COVID affected the travel sector, we successfully pivoted to serve individuals and families with a full-featured mobile banking app supporting accounts, cards, and payments in multiple languages. How did you get into the fintech industry?
It connects funders with recipients in need of financing for various projects, ensuring that all transactions adhere to Islamic financial principles. #3 3 SafexPay (India) SafexPay provides a comprehensive payment solution for businesses globally.
These companies operate across a wide range of industry sectors which include digital payments, neobanking and wealthtech. Founded in 2016, Akulaku provides digital banking, financing, investment and insurance brokerage services, targeting financialunderserved demographics.
It enables faster, more efficient, and more inclusive borrowing, particularly benefiting small businesses and rural borrowers. By integrating with various data custodians, ULI reduc es paperwork, expedit es loan approvals, and enhanc es credit accessibility across multiple sectors.
Many of these companies disrupt traditional financial industries, particularly by improving how consumers engage with financial services by increasing access to financial products, lowering fees, and increasing speed with personalization. This clear view of your financial goals motivates and helps you make necessary adjustments.
The Definition of Fintech vs Traditional Finance Fintech refers to financial technology, which encompasses a broad range of tech innovations and advancements applied to financial services. The proliferation of APIs and microservices architecture further enhanced modularity and flexibility.
Regular attestations and audits are essential to ensure the transparency and integrity of these reserves, building trust among users. With this market capitalization size and a growing presence in cross-border payments, corporate treasury operations, and emerging market finance, stablecoins are fast becoming a relevant tool in global finance.
At the moment, many banks have limited Open Banking capabilities because they are constrained by their core banking systems, which are often far removed from any API gateways, he says. By contrast, when using Engine, banks can replace their legacy systems and plug APIs directly into their core system.
Such hyper-connectivity is not limited to financial services. It also extends across industries, enabling seamless integration of financial tools into everyday activities. Open banking also fosters innovation, as fintechs and third-party providers can develop new products and services through secure APIintegrations.
Businesses and consumers alike are witnessing a seismic shift in how financial interactions are managed, from digital payments to sophisticated lending platforms. One of the growing trends, neobanks target underserved segments, including small businesses and freelancers. Companies such as Klarna offer these services.
A fintech company is a business that applies technology to deliver, improve, or reinvent financial services. These services can include payments, lending, investing, insurance, and banking. The term fintech is short for financial technology, and it represents a shift in how money is managed, accessed, and moved in the digital age.
MNT-Halan, recognised as Egypt’s first fintech unicorn, is extending its reach to unbanked and underbanked populations by integrating microlending, consumer finance, digital wallets, card services and payments within a single app. How do you balance the needs of such a diverse, underserved user base?
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