Fintech
Catch the latest developments of the week
By Delisha Fernandes
Today
- Rear base
- Burgan Bank
- Capchase
FinTechs continue to play a critical role in transforming and reshaping the traditional contours of the financial sector. As technology is increasingly intertwined with financial services, FinTech innovations are not merely incremental but rather revolutionary, paving the way for greater efficiency, accessibility and new business models.
This week’s FinTech Focus features a curated selection of the most significant developments that highlight the dynamic nature of this sector.
Let’s take a look at the six major announcements made by FinTech bigwigs this week:
Burgan Bank has announced the signing of an agreement with Tata Consultancy Services to upgrade its core banking system by implementing the TCS BaNCS™ suite of products. This agreement marks a significant step forward in Burgan Bank’s expansive digital and technology transformation strategy, which aims to facilitate a smooth transition from traditional to digital banking.
Capchase, the revenue acceleration platform for Software-as-a-Service (SaaS) companies, has secured a €105 million credit line warehouse managed by Deutsche Bank. This new financing contributes to the $1 billion in equity and debt financing the company has received since its founding in 2020.
ZainCash, a subsidiary of March Holding and a payment services provider in Iraq, has launched Temenos core banking and payments to fuel the rapid growth and innovation of its digital payment services.
Bank Muamalat has announced a long-term partnership with Backbase, the global provider of commitment banking services and Mambu for its core banking transformation. This partnership will support Bank Muamalat’s journey to revolutionize its digital Islamic banking offerings.
CashFlo, India’s comprehensive financial automation and compliance platform, has announced the acquisition of Logitax, an all-in-one GST compliance and e-invoicing platform, for an undisclosed amount.
Intellect Design Arena has announced the launch of Intellect Digital Core (IDC) for cooperative banks in the Indian market. This core banking technology gives you the freedom to create unprecedented customer experiences without changing your legacy systems. It is the most technologically advanced core banking system with world-class safety and security features. Your vision of becoming a chartered bank is now a reality.
Read also: IBSi FinTech Journal March 2024 Edition
Previous article
Raqami Islamic Digital Banking and 1LINK to promote digital financial services
Next article
UnaFinancial and JSCB Microcreditbank will offer lending services in Uzbekistan
IBSi daily news analysis
According to research, the digital remittance market is expected to reach $83.2 billion by 2034
IBSi FinTech magazine
- The most trusted FinTech magazine since 1991
- Digital monthly edition
- Over 60 pages of research, analysis, interviews, opinions and rankings
- Global coverage
subscribe now