The Open Finance Association kicks-off

Open Finance Association

The Open Finance Association (OFA) has been launched with 13 fintechs as members. Why: To further open up financial data and payments for consumers and businesses through API (application programming interfaces) technology. What does it aim to do? enable consumers and businesses to access their data across all their financial accounts, and make use of … Read more

Israel comes out on top

Israel comes first in the 2022 Digital Quality of Life Index. This study focusses on the quality of digital wellbeing across 117 countries (92% of the global population). The study indexes each country according to five pillars that impact a population’s overall digital quality of life. Top ten are: Israel Demark Germany France Sweden The … Read more

Surge in B2B embedded finance demand

Embedded finance

Most US B2B businesses are familiar with embedded finance and already offer a solution. Key takeaway: The top three critical business pain points being solved by embedded finance today are: customer retention, cash flow management and revenue growth. So says Juniper Research in collaboration with Galileo Financial Technologies. Take note: Galileo Financial Technologies is a … Read more

Cloud Bike enters Moroccan market

Telus bike

Moroccan startup Cloud Bike is beginning to sell its Telus electric bikes brand to its home market, having previously exclusively exported to the EU and the US. Sigificance: Demand for sustainable Telus bikes in the home market is rising and the 15% sold in Morocco will commercialise electric bikes in the country. More about the bike: known … Read more

Singapore most financially inclusive market

Hands linked

Singapore is the world’s most financially inclusive market says a new index research report. It comes top in the inaugural Global Financial Inclusion Index which reflects the extent of the underbanked problem. Argentina came bottom of the new index. Why this is being flagged: Financial inclusion is key to global economic progress. The company behind the … Read more

Total Banking-as-a-Service platform revenue to skyrocket 

The total revenue derived from Banking-as-a-Service platforms will be over $38bn globally by 2027 says research house Juniper.  Why it matters: Brands are using Banking-as-a-Service, or more particularly, embedded finance, to take control of their own customer finance journey proposition. And that means a sea-change for banks, as they spend less time consumer facing, and … Read more

Casablanca remains a top financial hub, but lags in fintech

Cars in front of Casablanca City.

Although Casablanca is still Africa’s leading financial hub, it ranks just 91 globally when it comes to being a fintech hub. The city, home to nearly four million people, boasts the largest stock exchange in North African. Key points: findings come from a new report from the Global Financial Centers Index; Casablanca ranks 54th internationally; the … Read more

CCaaS not sole plaything of fintechs

A new report is making an argument that Credit-Cards-as-a-Service is not just the plaything of the fintechs. The Aite Matrix: Credit-Cards-as-a-Service report from Boston-based Aite-Novarica argues: “Credit-Cards-as-a-Service (CCAS) is often used to define a small or startup fintech firm that offers an all-in-one credit card issuance solution, but most features associated with this new term … Read more

HolyWally joins Tokyo Financial Award mentoring programme

Singapore-based HolyWally, the world’s first Wallet-as-a-Service platform that allows companies to quickly build their own digital wallet, has been selected to join the Tokyo Financial Award, a mentoring programme. Initially 15 companies, from Japan and internationally, have been chosen from a list of 108 applications, covering 26 different countries and regions. The 15 were selected … Read more

Kafene raises $18m as it boosts US underbanked

A US digital platfom which helps the US underbanked obtain credit for big-ticket items has just raised $18m. Kafene offers flexible lease-to-own (LTO) financing options. The Series B round was led by Third Prime and existing investors. It was back in 2021 when Kafene rasied $30m, again led by Third Prime, in a Series A … Read more

Valencia Digital Summit nears

The VDS | Valencia Digital Summit 2022 takes place on Monday 24 October to Wednesday 26 October. It will showcase how technology, innovation and digitization can change, impact and transform every aspect of our lives in a positive way. It will address the role of technology in the main social and economic challenges faced by … Read more

Moroccan fintechs get the nod for The Web Summit

Two Moroccan fintechs have been invited to attend The Web Summit in Lisbon, Portugal. The first is Fastdok which has developed a SaaS tool that creates documents for multiple sectors. The second is Henceforth, which provides car repair loans. Both have been invited via the Summit´s startup programme, ALPHA. The Summit starts on Tuesday 1 … Read more

TradFi in danger of missing out on embedded finance boom

Traditional finance is in danger of being let behind as the embedded finance market rockets. So said Bain in a recent report which predicted that the embedded finance transaction value is to more than double to $7 trillion in US by 2026. Embedded finance poses a major challenge to traditional financial institutions, threatening to separate … Read more

European FaaS to grow by 16.5%

The Europe Fintech-as-a-Service market is expected to grow by 16.5 % CAGR from now until 2028. The prediction comes from Research and Markets. The report explained that platforms and applications that provide banking as a service (BaaS) have developed as a practical and economical way to deliver financial services based on open banking concepts. To … Read more