There are a hundred news today in the Financial Technology world. There are booming startup companies, merger of two established financial firms, cryptocurrency issues, fiat concerns, new banking schemes and payment solutions. We have listed below the current news today that will surely catch your attention and may be make up your mind for a certain financial decision. Check our latest financial technology news today:
An application with Buy Now, Pay Later payment method, Affirm, collaborated with the financial institution, Stripe, in May 31st, Tuesday. The goal is to drive growth by enabling Affirm’s Adaptive checkout feature. On the other hand, the BNPL startup company, Tranch, came out of stealth mode by raising a fund of 3.5M Pound sterling and collaborated with Yobota as well. Regarding crypto and fiat, Merge is now striving to connect the gap between the two.
Financial Technology startup, Merge, just raised funding and started using it to further develop its application-programming interface (API) – based financial platforms. This company is doing all it can to connect the gap between fiat and crypto payment systems. The whole project was spearheaded by Octopus Ventures in collaboration with a number of other investors.
This BNPL institution, Affirm, introduced Adaptive Checkout as their tool for financial innovation. It is a payment option that provides a selection of methods for its customers, bringing an even personalized approach.
Further, the Adaptive Checkout utilizes the firm’s smart descion-making engines to optimize its payment installment plans. This includes four no-interest payments that can be done twice a week, monthly payments, or an option to use both.
Those who had early access observed an average of twenty-six percent increase when converted. For more information, visit this link.
BNPL startup company, Tranch, in partnership with cloud-based financial technology firm Yobota, started to give their clients a more flexible and faster payment system. The two companies aimed to provide fast and flexible payment options, as a part of their strategy for driving sales, specifically among Gen Z and millennials. You can find out more here.
They also increased their fund, adding up 3.5 million pound sterling more from investors, which will be used for complex customer financial journey in the United Kingdom. Yobota, on the other hand, offered architecture with more flexibility, and API innovations.
- Tarabut Gateway Partnered with Four Saudi Arabian Banks
This Bahrain-based open banking institution just started a collaboration with four banks in Saud Arabia. These banks are – Riyad Bank, Saudi British Bank, Alinma Bank, and Banque Saudi Fransi.
The Kingdom has a present population of thirty five million, and is considered one the largest Middle East countries.
The region, as a brief context, has a ninety-eight percent of internet access and ninety seven percent of smartphone access for 18-75 year olds.
- Own regulator, New Bill in the US for Big Tech
Senator Michael Bennet and Representative Peter Welch proposed the United States Digital Platform Commission Act of 2022. This bill aims to establish a commission of five people, wherein their tasks is to protect consumers during the era of Big Tech. Further, the bill was formed with the ideas from different bills globally, particularly from those presented in the United States, Europe, and the United Kingdom.
These may be a lot to take in, but it’s not yet all. Visit our website at https://coredo.eu/ for more financial technology news and you might even want to take part in such venture. Our team also has professionals who can help you.