Every month, we put together a rundown of the news related to what is happening in the world of fintech. Enjoy.
Global Fintech Funding Reached $5.4 Billion in Q1 – According to CBInsights’ report, global VC-backed fintech funding is boosted by a dozen of mega-rounds amongst which challenger banks feature prominently. In Europe, although there was a dip in terms of deals, the quarter was strong value-wise. Read More
World’s Best Banks for New Financial Technology 2018 – Winners in the inaugural Best Bank for New Financial Technology category have already reserved their spot at the forefront of financial innovation, leveraging blockchain, artificial intelligence, data analytics and the Cloud to change the face of investment banking. Read More
FinTech in 2018: The Fads, the Fears, and the Future – This report looks at fintech trends in 2018, pain points, and what the future will bring. The fads include ICOs, bitcoin, bank-fintech collaboration, and AI. Fears deal with the rise of cyberattacks, the fintech bubble bursting, Brexit, and regulatory pressure, while the future is all about open banking and AI. Read More
Mastercard and Visa to Team Up for New Online Experience – The two card schemes announced their intention to partner and create a single ‘buy’ button for online shopping. The system would use one-time card numbers for an easier checkout experience. Read More
PayPal Goes Into Banking, Targets Unbanked – Through a series of bank partnerships with smaller institutions, the payment company will offer in the weeks to come banking products for the unbanked. PayPal customers will be able to use credit cards linked to deposit accounts. Read More
HSBC Spends USD 2.3 Billion on AI and Digital Innovation – HSBC reveals that it spent USD 2.3 billion on improving its AI and digital innovation as well as allocating USD 200 million for investment in fintech and start-ups. Read More
Walmart Launches International Money Transfer Service – The retailer is to launch a global money transfer service together with MoneyGram. The new service, called Walmart2World, will enable money transfer from Walmart’s US stores to 200 countries. The move expands on its domestic money service, Walmart2Walmart. Read More