💬 INTERVIEW
👀 NEWS HIGHLIGHT
YieldX, a FinTech company reimagining fixed income investing, announced a partnership with Jefferies.
Jefferies’ Wealth Management advisors will now be able to access and leverage the full YieldX solution set to broaden the firm’s current offering of fixed income-generating portfolios for clients.
👉Link to the full article here.
😎 SPONSORED CONTENT
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📰 ARTICLE
When it comes to technology and innovation, Ireland has earned a strong reputation as being an industry leader on the global stage, and our growing fintech capabilities are quickly becoming world-class.
Fintech has enabled change to a traditional industry, changing our lives and the world of finance, by providing a plethora of alternatives with Ireland playing a pivotal role in this evolution.
👉Link to the full article here.
👨💻 BLOG
Identity verification companies help financial institutions make real-time decisions to either approve or reject a prospective customer who signs up for an account.
Identity verification processes are not new, though. Since the 1990’s, banks have been required to verify the identity of each prospective account holder in a process called Know your Customer (KYC).
👉Link to the full article here.
💡INSIGHTS
🇪🇺Europe is a FinTech epicentre🚀
Thirty-nine new billion-dollar FinTech companies have emerged in the past year, making up 25% of all Unicorns 🦄 in Europe.
👉Read the full source article here.
💡INSIGHTS
UK FinTech has enjoyed meteoric growth in recent years, and Islamic FinTech has been a key part of that success.
AGBI speaks to industry experts to get the inside track on the sector’s development.
UK fintech investment hit $37.3 billion in 2021, up sevenfold from $5.2 billion in 2020, according to figures published by global professional services firm KPMG in February this year.
👉 Read the full article here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ SEON announced a new partnership with Provenir, a global leader in AI-powered risk decisioning software for the fintech industry. Link here.
⭐️Ant Group is set to apply for a key financial license, «Bloomberg». Link here.
⭐️ Facebook Pay rebrands to Meta Pay as Zuckerberg details plans to create a digital wallet for the metaverse. Link here.
⭐️ Over the last decade, Kenya has witnessed significant technological growth, with the country now considered among the leading nations on that front in Africa. Link here.
⭐️A gaggle of Europe’s most active angel investors — including Wise’s Taavet Hinrikus and Songkick’s Ian Hogarth — are getting into the VC game. They’ve raised a €250m fund, called Plural, to invest in early-stage startups and bring serious operator “scar tissue” to Europe’s investment landscape. Link here.
PAYMENTS
Aerotruth has added Abu Dhabi’s LuLu Financial Holdings and Nepali money transfer service Samsara Remit as platforms using its service. Link here.
Deel entered into a public offer to acquire Australian-based payroll company PayGroup. Link here.
The UK payments watchdog has responded to private sector pressure to examine the fees charged by Visa and Mastercard. Link here.
The Central Bank of Nigeria has granted an Approval In Principle to Abeg Technologies Limited, a product of Piggytech Global Limited, as a Mobile Money Operator in Nigeria. Link here.
Apple Pay is available on a screen. The Apple Pay functionality sits inside the user’s wallet, containing their card information. Link here.
Currenxie announced that it will be participating in Amazon’s Payment Service Provider (PSP) program. Link here.
BNPL
Klarna announced the launch of its new Loyalty Card feature in the Klarna App. Link here.
Will RBI’s latest circular kill Indian fintech cards and credit businesses? The June 20tbusinessesh RBI notification on PPI-MD not permitting loading of non-bank PPIs from credit lines has made the fintech ecosystem lose its sleep. Link here.
Optty has said its services will now include the offerings of Pace. The release said Pace acquired Rely, another BNPL platform, earlier this year. Link here.
The Reserve Bank of India’s (RBI’s) move to disallow loading prepaid payment instruments (PPIs) from credit lines may affect 8-10 million customers who are part of the “buy now pay later” universe, say players who are feeling the heat owing to the regulatory diktat. Link here.
OPEN BANKING
Saudi Arabia is poised to become a regional fintech hub with the launch of open banking last month. Link here.
Backbase has announced a new partnership with Bahrain FinTech Bay (BFB) as part of BFB's Venture Acceleration Platform, to accelerate digital banking adoption in Middle East and North Africa region and offer new opportunities for key players in the regional financial sector. Link here.
GoCardless has rolled out two new open banking features in Germany, Instant Bank Pay, and Verified Mandates. Link here.
Volt is launching a new bank account authentication service for online merchants and businesses. Link here.
CRYPTO
Wirex announced that it is operational in the UK again, following “discussions” with the UK Financial Conduct Authority (FCA). Link here.
BLOCKCHAIN / DEFI
Binance announced an exclusive multi-year partnership with Portuguese football legend Cristiano Ronaldo. Link here.
INVESTMENT
GetEquity has expanded to Kenya as it looks to connect more African startups with funding opportunities. Link here.
FRAUD PREVENTION
ComplyAdvantage announced that it has released ComplyTry, a new tool that enables anyone to better understand the risk profiles of prospective customers using live sanctions, Politically Exposed Persons (PEPs), and adverse media data for free. Link here.
FINTECH MAPS
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.