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.

UK Neobank Monzo Marks First Profitable Year 
UK Neobank Monzo Marks First Profitable Year 
June 03, 2024  |  Digital Banking

British neobank Monzo is planning further expansion as it marks its first profitable year. The company’s annual report, released Monday (June 3), showed its profit...

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Savings App Yotta Says 85,000 Accounts Caught in Synapse Meltdown
Savings App Yotta Says 85,000 Accounts Caught in Synapse Meltdown
June 02, 2024  |  Banking

The impact of Synapse’s bankruptcy continues to spiral outward, extending now to FinTech startup Yotta. For the past three weeks, 85,000 of the company’s customers...

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Revolut to Expand in Asia-Pacific, Build on Success in Australia
Revolut to Expand in Asia-Pacific, Build on Success in Australia
May 31, 2024  |  Digital Banking

London-based FinTech company Revolut has reportedly set its sights on the Asia-Pacific (APAC) region for its global expansion strategy. Charlie Short, head of growth at...

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Fintech Extends Automated Invoice Processing Capabilities to All B2B Transactions
Fintech Extends Automated Invoice Processing Capabilities to All B2B Transactions
May 31, 2024  |  B2B Payments

Financial Information Technologies (Fintech) has expanded its platform’s automated invoice processing capabilities to include all B2B transactions. Previously designed to handle the retail and hospitality...

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This Week in B2B Innovation: Embedded Experiences, AI and Leverage
This Week in B2B Innovation: Embedded Experiences, AI and Leverage
May 30, 2024  |  B2B Payments

Digital is a one-way street. And that street is being populated by B2B firms who aren’t looking back after embracing digital innovation to both compete...

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Google Cloud and iBind Partner to Streamline Banks’ Onboarding Experience
Google Cloud and iBind Partner to Streamline Banks’ Onboarding Experience
May 30, 2024  |  Partnerships

iBind Systems, a FinTech startup based in Bangalore, India, announced a collaboration with Google Cloud to modernize the onboarding experience for banks and financial institutions....

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Klarna Says AI Tools Reduced Operating Expenses 11% in Q1
Klarna Says AI Tools Reduced Operating Expenses 11% in Q1
May 30, 2024  |  Earnings

Klarna reported Thursday (May 30) that it achieved both accelerated revenue growth and lower operating expenses during the first quarter, with the latter driven by...

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Trustly CEO: IPO Is Still 1 to 2 Years Away Despite Profit Jump
Trustly CEO: IPO Is Still 1 to 2 Years Away Despite Profit Jump
May 30, 2024  |  Digital Payments

The CEO of Swedish FinTech Trustly says going public is not yet on the company’s radar. Speaking to CNBC Thursday (May 30), Johan Tjarnberg said that although his company...

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B2B Companies Embrace Invoice Financing to Drive Business Continuity
B2B Companies Embrace Invoice Financing to Drive Business Continuity
May 30, 2024  |  B2B Payments

As businesses evolve, so too do the ways in which they pay and get paid. After all, cash flow is the lifeblood of any business....

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