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.

HFSC Chairman Patrick McHenry Reintroduces Legislation to Create Regulatory Sandboxes
HFSC Chairman Patrick McHenry Reintroduces Legislation to Create Regulatory Sandboxes
February 27, 2024  |  Regulation

The Financial Services Innovation Act will again be considered by the U.S. House of Representatives. Rep. Patrick McHenry, R-N.C., chairman of the House Financial Services Committee (HFSC), reintroduced the...

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Treasury Management FinTech Embat Raises $15.96 Million to Expand Globally
Treasury Management FinTech Embat Raises $15.96 Million to Expand Globally
February 27, 2024  |  Investments

Embat, a FinTech company based in Madrid, Spain, has raised 14.7 million euros ($15.96 million) in a Series A round.  The company plans to use...

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Enfuce Wins eMoney License From British Regulator
Enfuce Wins eMoney License From British Regulator
February 27, 2024  |  Digital Banking

Finland-based payment processor Enfuce is expanding its operations in the United Kingdom. The FinTech said in a Tuesday (Feb. 27) press release that it received...

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Tabby Launches Subscription Service That Expands Acceptance of BNPL
Tabby Launches Subscription Service That Expands Acceptance of BNPL
February 26, 2024  |  Buy Now Pay Later

Tabby, a shopping and financial services app active in Saudi Arabia, Kuwait and the United Arab Emirates (UAE), has launched a subscription service in the...

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Cross River Adds Investment Banking Services for FinTechs
Cross River Adds Investment Banking Services for FinTechs
February 26, 2024  |  Banking

Cross River Bank and CRB Securities are moving into the investment banking space. The company’s investment banking team will help FinTechs with decisions such as mergers and acquisitions, capital...

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OCC Head Concerned About Bank-FinTech Collaboration
OCC Head Concerned About Bank-FinTech Collaboration
February 26, 2024  |  Banking

Michael Hsu, CEO and acting comptroller of the currency for the Office of the Comptroller of the Currency (OCC), recently reiterated his agency’s commitment to...

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Report: Paytm Turning to Banks to Process UPI Transactions
Report: Paytm Turning to Banks to Process UPI Transactions
February 26, 2024  |  Banking

Embattled Indian FinTech Paytm is reportedly turning to a group of banks for help. The company is likely to work with Aix Bank, HDFC, Yes Bank and...

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Xalts Acquires Contour to Accelerate Digitization in Supply Chain Finance
Xalts Acquires Contour to Accelerate Digitization in Supply Chain Finance
February 23, 2024  |  Acquisitions

FinTech platform Xalts has acquired Contour Network from a consortium of global banks. The move is aimed at accelerating digitization in trade and supply chain...

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Absa Says African FinTechs Should List IPOs on Local Exchanges
Absa Says African FinTechs Should List IPOs on Local Exchanges
February 22, 2024  |  IPO

South Africa’s Absa Group has reportedly highlighted the opportunity for African FinTechs to consider public listings at home. Adesoji Solanke, head of FinTech investment banking...

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