Fintech
Catch the latest developments of the week
By Gloria Methri
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:
“We are excited to share that First Abu Dhabi Bank has chosen to integrate Fenergo’s CLM SaaS solution to accelerate customer onboarding and improve its AML compliance processes. We will support them in end-to-end digital customer onboarding and risk assessment for sanctions, AML and KYC.”
“GBST and Wipro are bringing our industry-leading Composer wealth administration SaaS platform and Wipro’s extensive experience in outsourced administration and contact center services to provide end-to-end administration services for fund companies pension, estate and pension assets that are transitioning from legacy IT environments. “
“Great news from Amsterdam! BridgeFund, the Dutch challenger SME financier, has chosen Mambu to fulfill its mission of bridging the financial needs of entrepreneurs. Together, we are transforming the SME lending landscape.”
“Mbanq will be attending the Cedar-IBSi NextGen Core and Digital Banking Summit at the #Shard in London this Friday. We look forward to hearing Tony Coleman, CTO of Temenos, talk about “Reimagining Banking for Long-Term Success.” It is always a pleasure to receive insights from Robin Amlôt, Editor-in-Chief of IBS Intelligence.”
“We have agreed to acquire Sainsbury’s Bank’s retail banking assets and liabilities, including outstanding credit cards, unsecured personal loans and savings accounts.”
Sainsbury CEO Simon Roberts said: “NatWest’s values and customer focus are a perfect match for ours. As one of the UK’s leading banks, NatWest’s reach and expertise in financial services will ensure that our existing financial services customers continue to be well looked after.”
“TerraPay and Thredd join forces for seamless global transactions. TerraPay, a global leader in money movement, has partnered with Thredd, a next-generation global payments platform to revolutionize virtual card payments for global vendors. This strategic collaboration aims to provide seamless, secure and compliant virtual card services in the travel industry.”
Read also: NextGen Core Banking: The Future of Banking in Q1 2024