Rakuten Group announces consolidation of fintech operations
The Paypers
APRIL 1, 2024
Rakuten Group has unveiled its plans to consolidate its fintech operations into a unified group in a bid to expand its customer base across various sectors.
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The Paypers
APRIL 1, 2024
Rakuten Group has unveiled its plans to consolidate its fintech operations into a unified group in a bid to expand its customer base across various sectors.
PYMNTS
JANUARY 15, 2021
After having its $37 billion dual IPO pulled by Beijing, Jack Ma’s Ant Group is working fast to overhaul operations to comply with government regulations, The Wall Street Journal reported on Friday (Jan. The company is keeping the lines of communication open and establishing a time frame to make changes, he noted.
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PYMNTS
JANUARY 19, 2021
With more financial institutions (FIs) turning to external third-party FinTechs to strengthen their small- to medium-sized business (SMB) and corporate offerings, the collaboration model is proliferating across national borders. Absa Group Collabs With Surecomp. BNL Goes Live With Tink. ní banka Taps Temenos.
PYMNTS
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FinTech company Ant Group continues to press toward having the biggest initial public offering (IPO) ever, with returns at an estimated $35 billion. Ant Group is the online payment affiliate of China-based Alibaba Group Holding. Ant Group gets most of its revenue from consumer loans made on the Alipay payments app.
PYMNTS
AUGUST 14, 2019
In an effort to create a relationship between its portfolio of investors, SoftBank has created an “operating group” within its Vision Fund. The group’s head, Gerry Lopez, told the Financial Times that the team of executives has doubled in size since it was formed late last year, and now stands at 30 employees.
PYMNTS
OCTOBER 22, 2020
Ant Group has won the nod from China's top security regulators for its Shanghai offering, the last hurdle to clear for the $35 billion dual listing, Reuters reports. Ant, the FinTech backed by China's Alibaba Group, plans to list simultaneously in Hong Kong and Shanghai in the next few weeks, according to sources quoted by Reuters.
PYMNTS
NOVEMBER 25, 2020
Female FinTech entrepreneurs are getting left out of funding even as record venture capital money is being pumped into startups. percent of FinTech startups with female founders received funding January through October, according to Crunchbase, per a Bloomberg report on Wednesday (Nov. Companies that did get funding received only 0.9
PYMNTS
DECEMBER 20, 2020
Chinese officials may limit the number of financial institutions to which any single FinTech platform may connect, Reuters reported, citing coverage by state media. Jiwei also said FinTech companies should not be allowed to become so dominant that they consume nearly all the business in a sector or are "too big to fail," according to Reuters.
PYMNTS
OCTOBER 27, 2020
Multinational investment bank UBS has launched the UBS Next platform in order to help invest in FinTechs and the "broader tech ecosystem," according to a press release. UBS Next will pursue direct investments in early stage FinTechs and other such companies.
PYMNTS
JUNE 27, 2019
Amsterdam-based startup Creative Group announced it has raised €22 million in funding from Prime Ventures. Founded in 2010, Creative Group enables customers to digitally buy or send prepaid credit to spend with their favorite brands, as well as to send cross-border credit remittances. We are excited to have Prime Ventures on board.
PYMNTS
DECEMBER 29, 2020
In this week's roundup of bank-FinTech collaboration and open banking initiatives, Citi embraces the unlocking of account data to third-party FinTechs, while WEX weighs in on opportunity for banks to take advantage of partnerships. Plus, one FinTech offers a new spin on the open banking model to drive financial inclusion.
PYMNTS
JULY 8, 2020
Ant Group, the online payment service affiliate of China’s Alibaba Group Holding Ltd, is looking to go public as early as this year, Reuters reported. . Ant Group was launched in 2014 to provide global financial services. If the IPO moves ahead, one of the sources said it would be one of the world’s biggest listings this year.
Bank Innovation
FEBRUARY 1, 2018
The Alibaba Group will take a 33% equity stake in Ant Financial, it’s affiliate fintech company that operates popular mobile payments service Alipay, the group announced today.
Perficient
JULY 11, 2022
Here are critical facts to know about some of the most popular BNPL service platforms: Afterpay: Afterpay was founded in Australia in 2014 but was acquired by fintech Square earlier this year. When deciding whether to use a BNPL service for a purchase, it is essential to read the fine print. According to Kristen E.
PYMNTS
APRIL 30, 2019
Ireland has been ramping up to boost FinTech efforts — a trend that has spanned several countries globally. The government said that, in the wake of Brexit, roughly 100 financial firms have applied to set up shop or expand operations in Ireland. Other firms that operate within P2P lending and insurance technologies will be considered.
PYMNTS
OCTOBER 8, 2020
Also seen in this week’s roundup of the latest in Bank-FinTech innovations was Alacriti teaming with The Clearing House on real-time payments (RTP), while Singapore Banking-as-a-Service (BaaS) startup RootAnt concluded a seed round with $1.46 In addition, Monese adopted Thought Machine’s cloud banking platform. Europe and South Africa.
PYMNTS
JANUARY 20, 2020
South African regulators also approved Goldman Sachs for a bank operation license as the firm strives for growth in the most liquid and sophisticated economy on the continent. Africa’s eCommerce volume is expected to reach $75 billion by 2025, and economic output in FinTech is anticipated to add $150 billion by 2022 to its GDP.
Gonzobanker
MARCH 7, 2024
It happened this week: Fintech Meetup , one of the newer trade events that brought 4,000 or so fintech and banker types to Las Vegas. Distribution, distribution, distribution The quest to scale a fintech company while maintaining high-quality business models came up on repeat.
PYMNTS
SEPTEMBER 2, 2020
Checkbook has joined Visa 's FinTech Fast Track program and launched Virtual Cards , a program that will expand the reach of real-time payments, according to a press release. The program launched in 2018 had grown 280 percent at the time, including more than 140 FinTechs around the world.
Bank Innovation
DECEMBER 15, 2017
Here comes the world’s first virtual transit card in Android Pay, well at least according to Google and Portland’s public transport operator TriMet, who teamed up to unveil the Hop Fastpass.
The Paypers
JANUARY 10, 2024
Malaysia-based fintech Boost and its consortium partner RHB Banking Group have gotten approval from Bank Negara Malaysia (BNM) and the Ministry of Finance to operate as a digital bank.
PYMNTS
NOVEMBER 4, 2020
Ant Group has been stopped in its tracks, but the regulatory scrutiny the firm is facing may have ripple effects throughout the FinTech realm, and well beyond whether they will (or can) list on public exchanges. But as PYMNTS reported this week, the microlending operations may be in focus. Wider Gaze on FinTechs.
PYMNTS
JANUARY 18, 2021
Singapore-based FinTech Grab is mulling a U.S. Last week, Grab announced that its Grab Financial Group had raised $300 million in a Series A funding round led by Hanwha Asset Management and joined by K3 Ventures , GGV Capital , Arbor Ventures and Flourish Ventures.
PYMNTS
OCTOBER 16, 2020
16) that merger talks with TCS Group Holding (Tinkoff) have fallen apart. . TCS Group Holding is the parent company of the Russian lender Tinkoff Bank. “We Lavka stocks roughly 2,000 items and operates as a digital market for convenience items. Russian search giant Yandex said in a statement on Friday (Oct.
Bank Innovation
MARCH 9, 2017
Citi Group named long-time executive Yolande Piazza the head of Citi Fintech today. Piazza, a 30-year financial technology veteran, who has been serving Citi in a variety of roles since 1988, will lead the group’s efforts in mobile, payments, and general fintech innovation.
PYMNTS
SEPTEMBER 28, 2020
Banks' embrace of FinTech is often driven by consumers' growing demand for a more seamless and unified experience. This week's look at the latest in bank-FinTech collaboration and open banking initiatives finds treasury management in the spotlight. But corporates can benefit from industry collaboration, too. Tink & Enel X.
PYMNTS
AUGUST 21, 2019
The Banking & Payments Federation Ireland said it had established a FinTech Foresight Group — further evidence of collaborations between traditional financial institutions and tech upstarts. WhatsApp has also reportedly been in talks with Bank Mandiri, which operates as a state-owned bank that has its own digital wallet.
Bank Innovation
MAY 22, 2017
Would you like a glimpse into the future of fintech? Today, Bank Innovation invites its readers to join the exclusive beta group of INV Fintech, this site’s sister accelerator. Our startups often look to test their latest and greatest, as well as gather feedback from the fintech devotees.
PYMNTS
JULY 21, 2020
s FinTech sector. Plus, Alibaba’s Ant Group plans to file an initial public offering (IPO). Independent Panel To Review UK’s FinTech Sector. s FinTech sector is planning a review of the industry to identify opportunities for growth. Ant Group Preps For One Of Biggest IPOs In History.
The Paypers
NOVEMBER 25, 2022
Experian has announced its appointment by the Singapore FinTech Association (SFA) and the Buy Now, Pay Later (BNPL) Working Group as a BNPL bureau operator.
PYMNTS
MAY 8, 2020
There may be talk of a venture capital slowdown, but B2B FinTech saw a busy week, with more than $280 million raised. Investors found promise in startups that target financial institutions (FIs) with software to improve their own services, as well as FinTechs that offer small business solutions by wielding their bank data. In the U.K.,
Bank Innovation
JULY 11, 2018
Citizens Financial Group joins the latest band of established FIs in launching its version of a digital-first bank called Citizens Access.
PYMNTS
OCTOBER 21, 2018
JPMorgan Chase is doubling down with its FinTech aspirations, gearing up to start development of a new FinTech corporate campus in the early part of 2019. JPMorgan Chief Executive Jamie Dimon views technology as a way to keep back the competition from FinTech startups that are luring over millennial customers in droves.
Independent Banker
JANUARY 31, 2022
With consumer expectations seeming to evolve faster every year, community banks could consider partnering with a fintech to keep up with technological innovation. of bankers are either strongly interested in or already working with fintechs in digital account opening. The benefits of fintechs. By Elizabeth Judd. Quick Stat.
PYMNTS
SEPTEMBER 9, 2019
JD.com and the biggest retailer in Thailand, Central Group, have launched a financial services app called Dolfin to help connect with local banks and increase the companies’ online presence, according to a report by Reuters. Central Group is owned by the Chirativat family.
PYMNTS
JANUARY 15, 2020
Brazil’s unicorn FinTech and payments startup EBANX is trialing a digital wallet, called Ebanx Go, with 10,000 consumers on a test basis, the company announced on Wednesday (Jan. The digital wallet offering is intended to solidify the FinTech’s reach in the Brazilian payments market.
PYMNTS
JUNE 18, 2020
The London-based trade group for Europe’s ePayments community is waiting for the European Banking Authority , the European Union (EU) banking regulator, to provide the 27-nation bloc with an update on Strong Customer Authentication (SCA). PYMNTS recently reported the pandemic has thrown daily operations for merchants in the EU and the U.K.
PYMNTS
JANUARY 12, 2021
London-based FinTech startup Curve has raised $95 million in Series C funding led by IDC Ventures, Fuel Venture Capital, and the investment division of Vulcan Capital, launched from the estate of Microsoft co-founder and philanthropist Paul G. Founder and Curve CEO Shachar Bialick said in a press release on Tuesday (Jan. headquarters.
PYMNTS
MAY 6, 2019
Such solutions can also overburden FIs’ websites and leave banks in the dark about their customers’ wants and needs, said Ismail Chaib, chief operating officer of software company TESOBE. If you’re a bank where FinTechs are a big thing – like in the U.S. – Challenges and FinTech Needs. you might have two million customers.
PYMNTS
FEBRUARY 7, 2020
Envoy Group. Envoy operates a blockchain platform built with R3’s Corda, with a focus on streamlining financial processes in the global trade space — including facilitating payments via tokenization technology. The $13 million raised for U.K.
PYMNTS
JANUARY 30, 2020
Banks and FinTechs continue to discover new opportunities in unlocking corporate clients’ financial data, with banks embracing data integration for their own product development initiatives, and FinTechs finding new ways to collaborate with each other. Mastercard Taps FinTech for Biz Card Boost. Bankin’ Steps Into Payments APIs.
PYMNTS
JANUARY 29, 2019
Efforts in the Middle East by banks and other financial institutions to embrace FinTech are on the rise. As reported from Daily News Egypt , a consortium of banks in the region expects a number of FIs, including those in Egypt, to embrace FinTech. Finxact’s own offerings operate in the cloud. “I Outside U.S.
PYMNTS
FEBRUARY 25, 2019
The Conference of State Bank Supervisors (CSBS) said earlier this month that it had put in place a set of action items to standardize the national experience of FinTechs and non-bank entities. We have formed a working group of state regulators to develop the model. Our FinTech industry advisory panel did include a few community banks.
PYMNTS
OCTOBER 8, 2019
In terms of the total amount invested to date in FinTechs, as tracked by PYMNTS via the India FinTech Tracker, the year to date tally stands at just under $3.7 The company offers and operates an app that allows users to track daily spend. The FinTech had already raised $47 million in equity financing.
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