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The following is a guest post by Lily Tran, content writer for MoneyTap. Southeast Asia is one of the fastest-growing fintech markets in the world. The expected market growth is estimated to be between $70 billion and $100 billion by 2020, outpacing the likes of the U.S., U.K. and China. One of the contributing factors 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…
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…
We talked so much about the Buy Now Pay Later (BNPL) revolution in ecommerce that we are starting to sound like a broken record (someone please explain that reference to the younger millennials in the room). But the no-interest financing strategy is quickly becoming a must-offer feature for merchants, card issuers, and other players in Read more…
Alternative credit scoring innovator CredoLab announced a new $7 million investment today. The Series A round was led by identity data specialist GBG, a company that entered a technology partnership with CredoLab back in June and is now taking a minority stake in the Singapore-based firm. CredoLab plans to use the additional capital to fuel Read more…
The decision by Canada’s Constellation Software to acquire Uruguayan technology firm – and Finovate alum – Infocorp earlier this year is a reminder of the vibrancy of the fintech ecosystems thriving in the countries to the north and south of the U.S. The acquisition was completed in June via Constellation Software’s U.S.-based subsidiary Aquila. “We Read more…
A report earlier this year from PwC highlighted the “changing competitive landscape” for fintech and banking in Nigeria. For those looking to learn more about both the growing impact of technology in financial services in one of the major countries in Africa, as well as the challenge created by COVID-19, PwC’s review provides an comprehensive Read more…
The ways that ride-sharing companies in Asia have leveraged their platforms to bring a variety of financial services to underserved communities is one of the more noteworthy – and unexpected – developments in the evolution of fintech in the region. Many people are familiar with Grab, the car-sharing and food delivery company founded in 2012 Read more…
Berlin, Germany-based “tech company with a banking license” solarisBank has secured $67 million in funding (€60 million). The Series C round was led by HV Holtzbrinck Ventures and Storm Ventures, and featured participation from a wide number of investors including BBVA, ABN Amro, SBI Group, Global Brain, Hegus, and Lakestar. Also participating in the oversubscribed Read more…
U.K.-based peer-to-peer lender Zopa announced this week that it has been awarded a full U.K. banking license and will move forward with its plans to launch a digital bank. The bank will offer the Zopa Fixed Term Savings Account, which features FSCS protection up to £85,000. Zopa plans to introduce a credit card later this Read more…
To speake of the woe that has befallen Wirecard … The international fintech community received an unexpected jolt on Friday on news that the CEO of Wirecard, Markus Braun, was stepping down. Braun’s resignation comes amid reports that the German digital financial platform he has led since 2002 cannot account for $2.1 billion in cash, Read more…