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Core Unicorn Deals Rattling the Future of Financial Technology

Gonzobanker

Bank executives should take these new deals’ valuations as a sign that the free market sees the future of finance as unbundled from the traditional industry structure. As new cloud-native, API-driven solutions come to market, the term “core” seems to live in the eye of the beholder. Response From The Other Two Big 3 Players.

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STC Pay, Moven Team Up To Launch Saudi Challenger Bank

PYMNTS

STC Pay, a digital wallet that is part of the Saudi Telecom Company, has teamed up with payments company Moven Enterprise to launch a new challenger bank in the country, according to reports. STC Pay, which does financial technology work for both companies and individuals, works with the Saudi Arabian Monetary Agency.

Regional 222
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Mastercard, EedenBull Extend Into Asia Pacific

PYMNTS

Mastercard and Norwegian financial technology (FinTech) company EedenBull have agreed to expand their partnership to the Asia Pacific region, the firms announced Monday (June 29). Under the terms of the new deal, Mastercard will support EedenBull’s product development and digital services.

Fintech 248
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ACI Worldwide, Mastercard Join Together To Ramp Up Real-Time Payments

PYMNTS

This will address the opportunity created as the “account-to-account payments market continues to quickly expand,” a press release said on Tuesday (Sept. He added that the new partnership “will provide great benefit not only to banks and central infrastructures” but to merchants, their customers and financial technology companies (FinTechs).

Payments 248
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APIs Streamline Cross-Border SMB Payments

PYMNTS

Commerce is increasingly crossing borders and currencies, digitally, affording firms of all sizes, and across all verticals, opportunities to tap into new markets. Traditionally, companies have only been able to use banks to send money to other countries, and the exchange rate and bank mark-ups are very high,” he told PYMNTS.

Payments 232
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Why P2P Could Soon Play A Leading Role In Middle East FinTech

PYMNTS

So-called peer-to-peer (P2P) lending has certainly faced challenges in certain markets. Since launching its SME and P2P lending services — the latter involves investors found online who take part in the financing programs in hopes of healthy returns — the situation in the region has been, as Moore put it, challenging.

Fintech 144
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Tencent, UnionPay Agree On QR Code Standard To Streamline Mobile Payments

PYMNTS

Caixin Global reports that Chinese mobile transaction company Tencent has decided to combine part of its authentication software with government-owned rival UnionPay. This collaboration will expand UnionPay’s market penetration and further a Chinese government initiative for same-sector partnership.

Mobile 112