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.

FinTech KindCard Set to Purchase Banking Platform OpenTransact
FinTech KindCard Set to Purchase Banking Platform OpenTransact
January 02, 2024  |  Acquisitions

Payments FinTech KindCard says it plans to purchase banking platform OpenTransact. The company has signed a letter of intent connected to its potential acquisition of...

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Construction Firms Wait 94 Days on Average to Get Paid
Construction Firms Wait 94 Days on Average to Get Paid
December 29, 2023  |  B2B Payments

Digital technologies are being built to help solve one of the key challenges facing the construction industry: delayed payments. The construction industry’s days sales outstanding...

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How AI Is Optimizing Trucking Operations
How AI Is Optimizing Trucking Operations
December 29, 2023  |  artificial intelligence

A lot can change in a year, and artificial intelligence (AI) is the perfect example. “Artificial intelligence has been in the market for a lot...

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Nearly 40% of Credit Unions Offer Instant Access to Payday Loans
Nearly 40% of Credit Unions Offer Instant Access to Payday Loans
December 29, 2023  |  Credit Unions

Credit unions (CUs) have long been a reliable source for credit products such as credit cards, mortgages, auto loans and personal loans. However, with the...

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Paytm Reports ‘Slight Reduction’ in Workforce After Implementing AI
Paytm Reports ‘Slight Reduction’ in Workforce After Implementing AI
December 27, 2023  |  Business

FinTech firm Paytm has reportedly confirmed a “slight reduction” in its workforce while denying media reports that it could cut more than 1,000 roles. The...

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Banks Slash 60K Jobs as Dealmaking and IPOs Decline
Banks Slash 60K Jobs as Dealmaking and IPOs Decline
December 26, 2023  |  Banking

The world’s biggest banks reportedly slashed more than 60,000 jobs in 2023. It was a year in which investment banks suffered their second year in a...

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Revolut Reports Revenue of $1.1 Billion in 2022
Revolut Reports Revenue of $1.1 Billion in 2022
December 22, 2023  |  Earnings

British FinTech Revolut expects its revenue to reach $2 billion this year after rising to $1.1 billion in 2022. Last year’s revenue was up 45%...

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The Infrastructure Challenge for Instant Payments in 2024
The Infrastructure Challenge for Instant Payments in 2024
December 22, 2023  |  Faster Payments

As the payments industry gears up for 2024, exciting transformations are on the horizon. Many, in fact, are already here. And for those transformations that...

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NexPay Teams With Flagright for Faster Student Payment Processing
NexPay Teams With Flagright for Faster Student Payment Processing
December 21, 2023  |  Partnerships

Student payment FinTech NexPay partnered with Flagright to improve its real-time payment processing capabilities. Australia-based NexPay lets study abroad students pay in local currencies, with...

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