Your Daily FinTech News - May 2nd, 2022
Welcome to?your?daily?FinTech?news!
NEWS HIGHLIGHT
FINTECH?NEWS
- Both card-based payment processing and financial institution account-to-account payment processing have come a long way over the past decade. Link here.?
- Infographic: Regulatory Headwinds for BNPL. Link here.?
- London fintech?Monspire, which helps small businesses predict cashflow needs, has raised ï¿¡600K funding in a round led by?Fuel Ventures ??. Link here.?
- Revenue-based financing provider?Outfund?has announced the close of a $20m Series A round, led by existing investor?Force Over Mass, and joined by three new investors — Switzerland’s?PostFinance, Guernsey’s?1818 Venture Capital,?and US-based Pipe backers?Tribe Capital. Link here.?
- Wednesday 27 April 2022 marks a historic day for?Edenred Belgium?and for the country’s entire labour market. Link here.?
- Global payments platform?Nium?announced a definitive agreement to acquire?SOCASH PTE LTD, a Singapore-based alternative payments network platform. Link here.
- Streamlined, an Oakland-based startup that is emerging from stealth today with a total of $4 million in funding. Link here.?
- Brazilian socialtech startup?Ribon App?has built a platform that offers a gamified experience of charitable giving, enabling individuals to donate to a charity without taking money out of their pocket, while increasing institutional donations by up to 60%. Link here.?
- It is difficult to talk to fintech entrepreneurs about payments without hearing about crypto, blockchain rails, and the ease of settlement with new technology. Four months into offering an international settlement in Stellar Lumens and USDC,?Tribal?Credit’s Chief Product officer?Arvind Nimbalker?said the firm is enjoying a lot of demand from firms worldwide for crypto tech and aims to build more crypto native partnerships. Link here.?
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DIGITAL BANKING?NEWS
- Block?Inc., the digital-payments firm run by Jack Dorsey, is expanding its small-business loan service to Canada, bringing it into more direct competition with the country’s big banks. The move sets up Block’s Square as a competitor to Canada’s major banks by moving it further beyond payments technology and into the business of providing capital. Link here.?
- After a month of delay,?Bank Negara Malaysia?(BNM) finally announced the list of successful applicants. The framework which was first issued on 30th December 2020, was hotly contested and attracted 29 parties to bid for the licenses. Link here.?
- MyBank, a leading online private commercial bank and an associate of?Ant Group, reported that it served over 45 million small-and-micro enterprise (SME) clients at the end of 2021, representing a nearly 30 percent increase year-on-year, according to its 2021 annual report. Link here.?
- Digital banking startup?Cogni?is joining the ranks of companies hopping on the crypto bandwagon. Link here.
- Luxembourg-based fintech company?Banking Circle Group?announced that it has acquired Account-to-Account (A2A) payment provider?SEPAexpress?to expand its financial ecosystem. Link here.?
- In a region where about half the population still doesn’t have a bank account, new payment types are unlocking the potential of the Latin American market for online merchants as the open banking movement matures there, according to a new Beyond Borders data analysis released by?EBANX, the leading payments platform in Latin America that connects global companies to Latin America’s consumers. Link here.?
This ends?Your?Daily?Fintech?News. Let me know if there are any questions or comments. Until the next!
Regards,
Marcel van Oost