Embedded banking provider ClearBank Ltd generated £45.4 million in revenue in YTD to October 2022, reaching monthly profitability for the UK-based bank. When compared to the same period in 2021, FinTech’s revenue has nearly tripled. Increased transaction volumes, new client sales, interest revenue, and the expansion of its FX and multicurrency proposition are all contributing factors to
In today’s tough economic climate, it is certain that clients are looking for ways to minimize their costs whenever possible in the face of the increasing cost of living. Banks have a key role to play in supporting consumers and especially the most vulnerable who are struggling to pay for basic necessities like rent, energy
Wise, the global tech company building the best way to move money around the world, has today launched its first eco card. The environmental impact of the Eco-Wise Card has been significantly reduced through the use of Polylactic Acid (PLA), a sustainable plastic alternative made from renewable bio-resources such as inedible corn. . The material
Financial services are the backbone of the economy and data is central to its operations. In this white paper industry experts from Amazon Web Services and Tableau describe why and how financial services institutions are adopting modern cloud analytics to: Meet compliance objectives, Process data efficiently, Improve customer experience; Increase productivity, and Create new revenue
Singapore-based fintech Nium has launched a closed-loop payments solution, Nium Airline Payments (NAP), powered by Universal Air Travel Plan (UATP). NAP aims to provide airlines, travel agents and online travel agents (OTAs) with a sustainable and fair closed payment model that seeks to end harmful surcharges and The no-accept policy restricts companies that are notorious for inflating B2B
Financial institutions and entrepreneurs have a complicated historical relationship. Entrepreneurs need the means to finance their businesses and stay afloat, which means they rely on banks for everything from business loans to checking accounts. And banks need entrepreneurs too. Without small businesses driving the economy, there’s not many banks can do. This (sometimes reluctant) codependency
PayZen, the fintech company tackling healthcare affordability with personalized, no-cost patient financing solutions, has raised a $220 million growth round to strengthen its leadership position as it pioneers the new category of Affordability Financing. The round is composed of $20 million in equity financing and a $200 million credit facility. The oversubscribed equity component was
Peter Rex, founder and Executive Chairman of Rex, announced that PayUp, a Rex company, has partnered with Austin-based nFusion Capital. PayUp is a technologized early payment solution for small and medium-sized businesses ensuring convenient and affordable access to capital. nFusion Capital is a private working capital finance company delivering customized financing solutions to small and medium-sized
Fintech and banks are not always the most comfortable partners, banks see banks as a digital threat to their business. This has created a “fear” among banks that fintechs are willing to beat them at their own game, as they serve customers in a way that banks may not, and fintechs too. tend to be
ZSuite Tech, a financial technology company that powers financial institutions with unbound digital accounts encompassing escrow, sub-accounting, sub-ledgering, FBO, and trust accounts for commercial customers, announced it has finalized its $11 million Series A funding round. This round was completed by the Independent Community Bankers of America (ICBA) and BankTech Ventures, LP (BTV). Led by ICBA,
Authorize payment transactions by simply touching your credit card, securely and quickly. Sella is piloting a credit card with biometric identification that, thanks to a small chip sensor, allows people to make payments with their fingerprints. The rollout of the new card, enabling biometric verification for direct and contactless payments, was led by Sella Personal
Synovus announced the introduction of Synovus Accelerate FX, an end-to-end, innovative FX solution to drive the expansion of international banking services. Synovus Accelerate FX provides foreign exchange payments and trading services with convenient access and management through the Synovus Gateway commercial banking portal. Synovus Accelerate FX is supported by Finzly, a FinTech provider of modern banking
