Fintech
Catch the latest developments of the week
By Delisha Fernandes
Today
- Axis Bank
- Fintech news
- fintech trends
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:
Axis Bank has announced the launch of NFC Soundbox in collaboration with Mastercard. The new soundbox will serve as an all-in-one solution for accepting Bharat QR, UPI, Tap & Pay and Tap + Pin payments.
Bank Muscat’s Meethaq Islamic Bank has implemented Temenos Core for retail and corporate banking. This strategic move enables Meethaq to provide Shariah-compliant banking products and services, while improving operational efficiency and business agility.
XTransfer, a B2B cross-border merchant payment platform, announced a strategic partnership with TerraPay, a global money movement company. This new alliance aims to revolutionize payment solutions for small and medium-sized businesses engaged in international trade by providing them with secure, compliant, fast and cost-effective cross-border payment and fundraising solutions.
Emirates Development Bank (“EDB” or “the Bank”), has launched an online cash management portal for its corporate clients, developed in collaboration with Tagit, an omnichannel digital banking solutions provider. The solution aims to simplify and streamline cash flow processes and give the bank’s respective customers greater control and efficiency in managing their financial needs.
Orion Innovation (“Orion”), a digital transformation services and product development company, has signed an agreement with Stanbic Bank Kenya to facilitate a banking industry upgrade and modernization effort. As part of the agreement, Orion will deploy Temenos’ cloud-based digital banking platform within Stanbic Bank Kenya’s operations, enabling enhanced customer experiences and providing innovative digital solutions.
Morocco-based HPS, a global provider of payment software solutions, has agreed to acquire CR2, an Irish-based digital payments and banking software company.
Read also: IBSi FinTech Journal March 2024 Edition