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FinTech Futures Industry Survey & Report 2022

We have called on our readers to provide us their views to help assess the industry’s take on the state of play, prospects and likely future shape of the financial services, banking and payments technology sectors worldwide. The results are compiled in our second edition of the annual FinTech Futures Industry Survey & Report, available for

Actived: 3 days ago

URL: https://www.fintechfutures.com/2022/05/fintech-futures-industry-survey-report-2022/

Four fintech trends to watch in 2022 and beyond

2022 could be a pivotal year for fintech. Despite the huge challenges brought about by the pandemic, investor confidence continues to soar, with the value of the global fintech market tipped to rise from $127 billion in 2018 to an estimated $309.98 billion by 2022 – an incredible 25% increase year on year. Challenger banks are also on the rise.

Category:  Bank Go Services

White paper: State of customer experience in financial services

Financial services firms are looking for new ways to sustain growth in this environment – and improving the customer experience (CX) is a top priority. This free report reveals that CX leaders in financial services are focusing CX improvements in three key areas: using data and artificial intelligence (AI) for customer understanding and

Category:  Services Go Services

FinTech Futures: Top five stories of the week – 27 May 2022

1 day ago · Klarna to cut 10% of workforce. Klarna CEO Sebastian Siemiatkowski outlined in a statement to employees how the fintech unicorn was staying “laser-focused” on weathering the various storms unfolding in 2022. Siemiatkowski cites the war in Ukraine, inflation, a volatile stock market, shifts in consumer sentiment and a likely recession

Category:  Services Go Services

Embedded banking models and the rise of Service-as-a-Bank (SaaB)

The bank usually acquires services in a modular á la carte approach without losing its core customers. In this embedded banking model, banks can focus on developing and delivering banking products and services, and fintechs can specialise in developing real-time payments, blockchain technology, or savings algorithms.

Category:  Car,  Bank Go Services

State of play: fintech and telco

Financial services are contributing to revenue and building brand loyalty for service providers. Established services, such as the mobile payments platforms in Africa, continue to evolve and expand. For example, the fintech customer bases of Vodafone, MTN, and Orange now number for 61 million, 46 million, and 23 million, respectively, with MTN

Category:  Services Go Services

UK government unveils new law to protect access to cash

The new Financial Services and Markets Bill, announced in the Queen’s Speech at the state opening of parliament, is designed to shore up the country’s cash infrastructure for the long term. Economic secretary to the Treasury John Glen says: “We know that access to cash is still vital for many people, especially those in vulnerable groups

Category:  Services Go Services

BaaS start-up Unit raises $100m Series C

Israeli Banking-as-a-Service (BaaS) start-up Unit has raised a $100 million Series C round, valuing the company at $1.2 billion. The round, led by by Jeff Horing of Insight Partners, saw participation from existing investors Accel, Better Tomorrow Ventures, and Flourish as well as new investors Stepstone, Moving Capital and a host of fintech

Category:  Bank Go Services

SEB lands first BaaS customer with Humla partnership

Nordic financial services group SEB has signed its first Banking-as-a-Service (BaaS) customer in retail fintech start-up Humla. The new fintech will be powered by a BaaS platform developed by SEB’s innovation studio SEBx. Humla is part of the Axel Johnson group, a Swedish company that builds and develops trade and service businesses in the

Category:  Bank,  Business Go Services

Financial super-app M1 deploys Thought Machine’s Vault Core

Financial services super-app M1 has selected core banking vendor Thought Machine to power and grow its platform. M1 will deploy Thought Machine’s Vault Core to build and launch new products from one unified, coherent “source of truth”. The financial wellbeing super-app is designed to help people invest, borrow and spend “intelligently

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Swiss fintech ZoodPay acquires Pakistan’s Tez Financial Services

2 days ago · ZoodPay, a Switzerland-based buy now, pay later (BNPL) platform operating in the Middle East and Asia, has acquired Pakistani consumer lending fintech Tez Financial Services for an undisclosed sum. ZoodPay buys Tez. Founded in 2016, Tez offers small loans to unbanked and underserved Pakistanis through its smartphone app and digital platform.

Category:  Bank Go Services

ICYMI fintech funding round-up: Tranch, Quantifeed, Chekk and …

1 day ago · It provides its services through APIs and open banking and aims to “take the pressure off corporate treasury teams” by automating manual processes. Crowd Data Systems claims to be the “world’s first” connected cloud service for corporate treasury and says it currently services more than 90 businesses across 32 countries.

Category:  Auto,  Bank,  Business Go Services

ESG and fintechs: how firms are benefiting from an ESG focus

The financial services sector that has most embraced ESG-related efforts is debt financing. There have been many green bonds and sustainability linked loans issued. In addition to these bonds and loans that are promoted by large financial institutions, specialised fintech lending companies are emerging that focus on sustainability and have

Category:  Services Go Services

NatWest partners Microsoft, Accenture for customer engagement …

2 days ago · NatWest has partnered with Microsoft and IT services firm Accenture as it looks to replace its multi-system legacy frontline architecture with one central digital platform. The new customer engagement platform will leverage Microsoft Dynamics 365 and integrate all of NatWest’s front office systems across its contact centre and branches

Category:  Services Go Services

E-commerce platform SamCart raises $82m Series B

SamCart, an e-commerce platform for the creator economy, has raised $82 million in a Series B funding round. The round was led by Eldridge and saw participation from existing investors TTV Capital, Fin VC and the George Kaiser Foundation, alongside new investor eGateway Capital. SamCart CEO and founder Brian Moran says that as “the creator

Category:  Car Go Services

Embedded payments platform Infinicept raises $23m to boost …

US-based fintech Infinicept has secured $23 million in a growth equity round led by SVB Financial Group and Piper Sandler Merchant Banking. Infinicept raises $23m. Existing investors including MissionOG also participated in the round. Since the company’s previous funding round in 2020, it claims to have seen an increase of “over 1,400%

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SME financing platform Oxyzo raises $200m Series A, becomes …

Oxyzo Financial Services, a digital platform for SME financing in India, has raised $200 million in a Series A round led by Alpha Wave, and reached a unicorn valuation status. The round was also co-led by Tiger Global, Norwest Venture Partners, Matrix Partners and Creation Investments. Oxyzo Financial Services team.

Category:  Services Go Services

US start-up Remote raises $300m in Series C funding

San Francisco-based start-up Remote has secured $300 million in a Series C funding round led by SoftBank that now values the firm at around $3 billion. Also participating in the latest funding round were existing investors Accel, Sequoia, Index Ventures, Two Sigma Ventures, General Catalyst, 9Yards, Adams Street and Base Growth.

Category:  Bank Go Services

Egyptian credit fintech Lucky raises $25m Series A

Egyptian fintech Lucky has raised $25 million in a Series A funding round, the country’s largest fintech Series A to date. Lucky says the round is the largest fintech Series A in Egypt. The round was co-led by fintech-focused venture capital fund Nclude and Egyptian banks Banque Misr, National Bank of Egypt and Banque du Caire.

Category:  Bank Go Services

ClearBank lands £175m investment to fuel global expansion plans

ClearBank will also use the funds to add new offerings, including additional FX services, direct API-based access to interbank payment schemes such as SEPA and enhanced multi-currency accounts. Launched in 2017, the clearing bank claims to serve more than 200 financial institutions and fintech customers including Tide, Coinbase and OakNorth Bank.

Category:  Bank Go Services

State of play: account-to-account (A2A) payments

Introducing a new regular column – State of Play – at FinTech Futures. Each month, fintech analyst Philip Benton explores a new topic and assesses the “state of play”, providing an in-depth analysis and understanding of the market landscape.. The first dive is into account-to-account (A2A) payments. A2A payments is nothing new; bank transfer services

Category:  Bank Go Services

Babel Finance bags $80m Series B at $2bn valuation

2 days ago · Hong Kong-based Babel Finance, a wholesale crypto financial services provider, has completed an $80 million Series B round at a valuation of $2 billion. Investors in this round were Jeneration Capital and 10T Holdings, as well as existing shareholders Dragonfly Capital and BAI Capital. Other investors include Circle Ventures and family offices

Category:  Finance Go Services

ANZ and Worldline launch new payment service in Australia

The aim, according to Worldline’s managing director of merchant services Vincent Roland, is to leverage both Worldline’s global scale and ANZ’s local knowledge and financial services expertise. Roland says: “Australia is number four globally for payment terminals per capita, and the local e-commerce market – thanks largely to COVID

Category:  Services Go Services

Global Contactless Services Market Analysis Report 2022: …

Dublin, May 23, 2022 (GLOBE NEWSWIRE) — The “Global Contactless Service Growth Opportunities” report has been added to ResearchAndMarkets.com’s offering. This study offers an overview of global contactless services growth opportunities, and the focus is on the increased adoption of no-touch digital solutions that will lead to a contactless society or a no …

Category:  Services Go Services

The urgency needed for banks to enter the BNPL space

Therefore, the urgency for banks to act now cannot be stressed enough; an opportunity as crucial as this may not come again. And while consumer spending on credit cards has seen an 11% decrease since 2020, with BNPL spending increasing by 87% in the same period, banks can no longer afford to sit on the sidelines.

Category:  Car,  Bank Go Services

Agri lender SunStream taps Fiserv for lending operations …

SunStream Business Services provides business and technology services to Farm Credit Entities throughout the Farm Credit System, which supports rural communities and agriculture with credit and financial services. The organisation is a service entity owned by four shareholders: AgriBank FCB, Compeer Financial Services, Farm Credit Mid-America

Category:  Bank,  Support,  Business Go Services

au Jibun Bank: a relationship for the long term

Enjoy the bank’s or the group’s wealth management services (foreign currency deposit, forex trading, fund sweep between the brokerage services and so on). Keep up the account balance (such as keeping total assets at the bank above JPY 500,000 ($4,200), foreign currency deposit size above JPY 100,000 ($840) or having more than 1 JPY in

Category:  Bank Go Services

PrivateAuto: The First Self-Service Payment App for Private Vehicle

ALPINE, Utah, May 18, 2022 (GLOBE NEWSWIRE) — PrivateAuto is the first self-service, peer-to-peer payment app for private vehicle sales that allows users to verify a driver’s license, eSign the bill of sale, and instantly transfer funds anytime, anyplace. The web app is now live and available nationwide.

Category:  Auto Go Services

Oxbury Bank raises £31m, acquires core banking tech provider …

Oxbury Bank, a start-up bank in the UK focused on the agricultural sector, has raised £31 million in a Series C funding round and acquired its core software provider, Naqoda. Oxbury Bank raises £31m. Specialist investors in the agribusiness and fintech industries – Grosvenor, Hambro Perks, Hutchinsons, and Frontier Agriculture

Category:  Bank,  Business Go Services

Alacriti Featured in Federal Reserve’s New FedNowSM Service …

Cosmos Payments Services Now Includes Support for TCH’s RTP® Network, Visa Direct, and The FedNow Service (coming in 2023) – Providing Multiple Options for Instant Payments and Transfers PISCATAWAY, N.J.–(BUSINESS WIRE)–#fasterpayments—Alacriti, a fintech company specializing in payments and money movement, is proud to be featured in the …

Category:  Support,  Business Go Services

The Helper Bees Announces Call For Service Providers To …

Vendors across the U.S. are invited to participate in RFI process, expanding the breadth of services delivered into the homes of older adults. AUSTIN, Texas–(BUSINESS WIRE)–#aginginplace—The Helper Bees, a full-service insurtech company that creates innovative aging-in-place solutions for carriers, aging Americans, and their families, today announced a …

Category:  Car,  Business Go Services

Wagestream secures $175m Series C funding to fuel expansion plans

Wagestream was founded in 2018 in conjunction with financial charities to give people access to a set of fairer financial services, delivered through their employer and built around their pay. Workers in hospitality, healthcare and retail can access the Wagestream app through their employers.

Category:  Car Go Services

Langley FCU taps Diebold Nixdorf for ATM-as-a-Service offering

Diebold Nixdorf has been selected by Langley Federal Credit Union (FCU) to manage the firm’s self-service banking operations. Langley FCU will implement the full suite of Diebold’s ATM-as-a-Service offering, DN AllConnect Services, and replace its entire ATM fleet with new DN Series devices. It hopes the move will increase branch and ATM

Category:  Bank Go Services

Blockchain.com valued at $14bn following Series D funding round

London-based crypto firm Blockchain.com has reportedly raised new funding that now values the company at about $14 billion, according to Bloomberg. The financing round was led by Lightspeed Venture Partners with participation from Edinburgh-based Baillie Gifford. The amount raised in the round has not been disclosed by the parties.

Category:  Services Go Services

UiPath Launches ‘Automation in a Box’ Managed Service on …

New offering brings power of automation to more than 8,600 financial institutions supported by Finastra. NEW YORK–(BUSINESS WIRE)–UiPath (NYSE: PATH), a leading enterprise automation software company, today announced it will offer a new Automation as a Service offering on the Finastra cloud, designed to provide a managed service model for …

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Rakuten Europe Bank opts for Temenos Banking Cloud

Temenos has signed a deal with existing user, Rakuten Europe Bank, for its Temenos Banking Cloud. Temenos will deliver banking services, including Rakuten Pay, on its cloud platform. The bank’s aim is to enhance its member experience, speed the development of new payment products, and enter new markets. The move is also intended to provide

Category:  Bank Go Services