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Saudi Arabia’s Open Banking Plan Aims To Advance Digital Innovation

PYMNTS

It enables the secure sharing of financial and other data to enable seamless digital payments and money transfers. . Aside from providing banking customers in the Kingdom with a way to securely manage and share financial data, open banking will also give people access to custom products and services.

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JP Morgan Creates $100B Funding Arm To Help UN

PYMNTS

The DFI will be headed by Faheen Allibhoy, a country manager responsible for JPMorgan’s West African division. is striving to tackle a host of issues in developing countries — from infrastructure and food security to climate change and health — by 2030. It’s an honor and privilege to join JPMorgan’s DFI,” said Allibhoy.

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Goldman Gets Green Light To Operate Bank In South Africa

PYMNTS

Africa’s working-age population is anticipated to go up to nearly one billion by 2030, up from 705 million in 2018, according to the African Development Bank. 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.

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Goldman Joins South Africa’s Johannesburg Stock Exchange

PYMNTS

Africa’s working-age population is anticipated to go up to nearly one billion by 2030, up from 705 million in 2018, according to the African Development Bank. 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.

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Cross-Border Payment Efforts Look To The Blockchain And Beyond

PYMNTS

Separately, in other company news, Canadian FinTech Buckzy Payments announced its launch earlier this week, eyeing international payments through what it has termed a “safe, secure and convenient ecosystem.”. Bill.com noted it has three million customers in place and manages $60 billion annually in payments volume.

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The Banking Crisis of 2023 is Over — Time to Get Back to the Crisis of the ’20s

Gonzobanker

Rising interest rates depress the value of low-rate securities and loans. Banks had more than $500 billion in unrealized losses on their securities at the end of March. In the first half of 2023, nearly half of the “checking accounts” opened in the United States were opened by digital banks and fintechs. Bond losses.

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Step Aside, Millennials — Why Fintechs Are Targeting Baby Boomers & Retirees

CB Insights

Fintech is often associated with digital tools targeted at tech-savvy millennials. But there is a growing market of fintech companies serving the unique financial needs of Baby Boomers and older retirees — and for good reason. Download the free report to find out how fintech is shaping the future of wealth management and investing.