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Some of the hottest headlines in international fintech in recent days involved industry innovators from the Land Down Under. Late in the week, financial consultancy firm Synechron announced that it had agreed to acquire Australian payments provider Attra. Headquartered in Melbourne, Attra is notable for being one of pure play payments solution providers in Australia, Read more…
One of the more interesting questions during a recent FinovateWest Digital panel on challenger banks asked: how important are partnerships to these digital newcomers? This week, one answer to that question came in the form of an announcement from Australia’s self-described “smartbank” – 86 400 – that it was teaming up with one of the Read more…
PhonePe is selling a $700 million stake in its company to existing investors, including Walmart, which led the financing round. The digital wallet and online payments company will use the funding to distance itself from Flipkart, which Walmart purchased in 2018. As part of the deal, Flipkart’s ownership of PhonePe will drop from 100% to Read more…
Financial-identity-as-a-service (FiDaaS) pioneer – and FinovateFall alum – Juvo announced earlier this week that it is working with Mastercard’s Latin America and Caribbean (LAC) team to bring its FiDaaS platform to financial institutions throughout the region. “Financial institutions across LAC face a dilemma,” Juvo CEO and founder Steve Polsky explained. “Consumers can’t demonstrate their creditworthiness Read more…
The biggest news in global fintech this week was word that the much-anticipated Ant Group IPO, an initial public offering expected to raise $34.5 billion, had been suspended on both the Shanghai and Hong Kong stock exchanges. Why? According to reports from the Wall Street Journal, Chinese President Xi Jinping himself ordered a halt to Read more…
The biggest news in international fintech was the $34.5 billion pricing of Ant Group’s upcoming initial public offering. We covered the news earlier this week. The company will be making a dual IPO, offering half of its shares on Hong Kong’s Hang Seng, and the other half on Shanghai’s Star Market. The date for the Read more…
Intelligent conversational chat technology is on its way to the 174,000+ members of Michigan-based United Federal Credit Union. The institution, which serves customers in neighboring Indiana and Ohio as well as in Arkansas, North Carolina, and Nevada, has teamed up with Finn AI to add the chatbot service to its suite of digital banking offerings. Read more…
When it comes to taking advantage of the best that the world’s fintech has to offer, you won’t find financial services companies in Canada sleeping on the job. This week in the country’s payments space, Toronto, Ontario-based Versapay announced its acquisition of Solupay, a contactless payments company based in Ohio. We also learned that FinovateEurope Read more…
The following is a guest post by Lisa Bigelow who writes for Bold.org. Robo advisors. Touchless payments. Zelle. These are just a few ways that digitalization has transformed how people manage their money. Although consumers have experienced a few hiccups along the way — lame chatbots, we’re looking at you — fintech is making an Read more…
Italy’s Nexi to Acquire Rival SIA in $5.4 Billion Deal Italy has a new payments behemoth on the block courtesy of a big acquisition in its financial services industry. Nexi, the country’s biggest payments processor with more than $1.16 billion (€984 million) in revenue in 2019, has agreed to acquire banking and fintech solution provider Read more…
Crypterium Launches Virtual Card Earlier this month at FinovateFall Digital, it was heartening to hear a number of fintech founders and CEOs highlight the blockchain and cryptocurrencies among the technologies they are most excited about in 2021. While a number of other enabling technologies such as AI and machine learning are in the spotlight right Read more…
A new study from McKinsey & Company suggests that European fintechs are experiencing an “existential crisis” as venture capital funding plunges “from surplus to scarcity.” The report compares the 11% drop in funding for fintech worldwide in the first half of the year with Europe’s far steeper decline in fintech funding of 30% over the Read more…