Fintech news covering digital payments, neobanks, financial technology startups, and innovations in financial services.
Shares of fintech firm Wise fell to a near 18-month low after Belgian prosecutors launched a money laundering investigation involving transactions worth about 500 million euros. The probe reportedly involves requests from over 30 countries. Shares were down 9.2% in European trade after briefly falling nearly 20%.
British fintech Revolut has begun rolling out services to a few thousand users in India as part of a controlled beta program. Beta users can access UPI payments, e-money wallets, and multi-currency cards. The company has around 450,000 waitlisted users ahead of a broader launch.
UK financial platform OpenPayd agreed to merge with SPAC Titan Acquisition Corp. to list on Nasdaq at over $1 billion valuation. The deal was announced on Monday.
This commentary argues that JPMorgan's blockchain-based payments platform, Kinexys, is critical for the bank to maintain its leading position in the payments industry. It contends that being first and fastest to expand such technology is essential, despite the challenges of innovating within a regulated global banking framework.
This commentary argues that large traditional banks like Wells Fargo are at the forefront of payments innovation, contrary to the perception that fintech unicorns lead. It contends that Wells Fargo's scale, data insights, and strategic partnerships enable it to build and deploy innovative solutions like real-time payments and AI assistants more effectively than startups.
This commentary profiles Starling Bank CEO Raman Bhatia, arguing that the bank's customer-first approach and integration of AI tools like Spending Intelligence and Scam Intelligence are key to its innovation. Bhatia contends that avoiding proof-of-concept purgatory and deploying AI at scale, along with an AI Champions model, drives efficiency and fraud reduction.