PYMNTS-MonitorEdge-May-2024

FinTech

Financial technology, often shortened to fintech, is the technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. It is an emerging industry that uses technology to improve activities in finance.

SoFi Wants Tech Platform to Be AWS of Financial Services
SoFi Wants Tech Platform to Be AWS of Financial Services
July 30, 2024  |  Earnings

SoFi Technologies’ leadership wants the company to become the “Amazon Web Services” (AWS) of FinTech. What that means is a lot of investment into technology...

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Aveni Raises $14 Million to Bring AI to Financial Services
Aveni Raises $14 Million to Bring AI to Financial Services
July 29, 2024  |  Investments

Scottish FinTech Aveni has raised $14 million to bring AI to the financial services field. The company announced its Series A on Monday (July 29),...

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Revolut Finally Lands British Banking License 
Revolut Finally Lands British Banking License 
July 25, 2024  |  Digital Banking

After a three-year wait, Revolut has secured a banking license in its home country. The British FinTech announced Thursday (July 25) that it had been...

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NAB and Plenti Team on Pay by Bank for Loan Repayments
NAB and Plenti Team on Pay by Bank for Loan Repayments
July 24, 2024  |  Partnerships

Australian bank NAB has launched a collaboration with FinTech lender Plenti. The partnership, announced Wednesday (July 24), lets Plenti’s customers make faster loan repayments via NAB’s pay-by-bank offering PayTo. “Plenti...

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Report: Revolut Could Hit $45 Billion Valuation After Share Sale
Report: Revolut Could Hit $45 Billion Valuation After Share Sale
July 23, 2024  |  Business

Revolut is reportedly preparing a share sale that would value it at $45 billion. The British FinTech is close to a deal that would see...

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Blu Financiero Launches Credit Card for Underbanked Consumers in Mexico
Blu Financiero Launches Credit Card for Underbanked Consumers in Mexico
July 23, 2024  |  Credit Cards

Blu Financiero, a FinTech company focused on the underbanked population in Mexico, has launched a “mass market” credit card that has a 99% approval rate...

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Exclusive: Matera Builds on Pix Success With Digital Twins and QR Codes in US Expansion
Exclusive: Matera Builds on Pix Success With Digital Twins and QR Codes in US Expansion
July 23, 2024  |  Real-Time Payments

The eternal debate in financial services technology boils down to build vs. buy,  and whether to rip and replace core banking operations. Banks have invested...

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Data Shows Up as Force Multiplier in Payables and Receivables Automation
Data Shows Up as Force Multiplier in Payables and Receivables Automation
July 23, 2024  |  B2B Payments

Traditionally, the back office has been populated by the number crunchers: the men and women who used to be characterized by expertise in accounts payable...

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Regulators’ Actions vs Green Dot and Other Banks Highlight Scrutiny Over AML Practices
Regulators’ Actions vs Green Dot and Other Banks Highlight Scrutiny Over AML Practices
July 22, 2024  |  AML

Enforcement actions and fines from regulators — the Federal Reserve, the Office of the Comptroller of the Currency and others — highlight the growing scrutiny...

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