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.

Argentine FinTech Tapi Raises $22 Million Amid Expansion Into Mexico
Argentine FinTech Tapi Raises $22 Million Amid Expansion Into Mexico
July 14, 2024  |  Payment Methods

Argentina-based payments processor Tapi has reportedly raised $22 million in new funding. The company will use the Series A funding to help fuel its expansion...

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Synapse-Connected Banks Reportedly Closer to Releasing Customer Funds
Synapse-Connected Banks Reportedly Closer to Releasing Customer Funds
July 11, 2024  |  Banking

Banks connected to the collapse of Synapse are reportedly close to recovering customers’ frozen funds. These banks have made progress in putting together account information for those...

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Firms Look to Mitigate Consequences From Data Breaches
Firms Look to Mitigate Consequences From Data Breaches
July 11, 2024  |  Security & Fraud

The interconnected nature of financial systems can have cascading consequences when data is compromised. And with the recent news that the June cyber breach at...

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Traditional Banks Go Digital as Neobanks Face Regulatory Heat
Traditional Banks Go Digital as Neobanks Face Regulatory Heat
July 09, 2024  |  Digital Banking

As regulators draw a bead on neobanks, traditional financial institutions are acting more like neobanks. Open banking looks set to transform financial services in the...

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Galileo Begins Offering Wire Transfers to FinTechs
Galileo Begins Offering Wire Transfers to FinTechs
July 09, 2024  |  Payment Methods

Galileo Financial Technologies has begun offering wire transfer capabilities to FinTechs. The So-Fi-owned company announced the new offering Tuesday (July 9), saying it provides FinTechs with another option...

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European Banking Authority to Consider Reporting Requirements for Nonbanks
European Banking Authority to Consider Reporting Requirements for Nonbanks
July 09, 2024  |  Regulation

European Banking Authority Chairman Jose Manuel Campa said the watchdog organization may make reporting requirements for nonbank financial institutions a “next step.” Campa said the...

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Regulators Wary of Banks Outsourcing to Tech Firms
Regulators Wary of Banks Outsourcing to Tech Firms
July 09, 2024  |  Bank Regulation

A top global banking regulator wants financial institutions to take more responsibility in outsourcing services. “Ongoing digitalisation has led to rapid adoption of innovative approaches...

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Report: Paytm Gets OK to Invest in Payments Subsidiary
Report: Paytm Gets OK to Invest in Payments Subsidiary
July 09, 2024  |  Regulation

Paytm has reportedly received government approval to invest $6 million in its crucial payments subsidiary. That green light came from a government panel overseeing investments tied...

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Embedded Lending Puts SMBs at Center of Financial Services Landscape
Embedded Lending Puts SMBs at Center of Financial Services Landscape
July 08, 2024  |  SMBs

The growing importance of seamless, customer-centric financial solutions has transformed today’s digital economy. And innovations like embedded lending have revolutionized the financial services ecosystem by...

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