Fintech
Catch the latest developments of the week
By Delisha Fernandes
Today
- Challenger bank
- Commercial bank
- Cross-border payment
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 top 6 announcements made by FinTech bigwigs this week:
Emirates NBD, a banking group in the MENAT region and Nium, a real-time cross-border payments provider, have announced a strategic alliance to offer customers a remittance solution in the Middle East. The partnership, subject to regulatory approvals, aims to enhance the remittance experience with instant and seamless cross-border transfers between the UAE and countries around the world.
YES Bank, a private sector bank in India, and EBANX, a global FinTech company specializing in payment solutions, have announced a strategic partnership to process payments in India for the global digital economy.
TerraPay has joined forces with Multipass, a FinTech challenger bank, to redefine cross-border payment solutions for corporate customers. This strategic collaboration aims to bring reliability, efficiency and cost optimization to businesses operating in the UK, Europe and beyond.
ICICI Bank announced that it has enabled NRI customers to use their international mobile number to make UPI payments instantly in India, thereby enhancing their convenience in making everyday payments. With this facility, the bank’s NRI customers can make payments for bills, business and e-commerce transactions with their international mobile number registered in the NRE/NRO bank account held by ICICI Bank in India.
Temenos has extended its partnership with Citi Securities Services to consolidate its existing regional fund accounting operation into a global operating model on Temenos Multifonds delivered as SaaS. Citi Securities Services provides end-to-end services for asset managers globally, using Multifonds as part of its existing investment accounting platform.
Paymentology, the global issuer-processor, announced its strategic partnership with Diamond Trust Bank (DTB), an East African commercial banking franchise. The partnership aims to promote financial inclusion in Kenya through the integration of financial services and the implementation of Cards-as-a-Service (CaaS) for both licensed and unlicensed entities.
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