Underbanked gets put back in
The American Banker is reporting that Federal Deposit Insurance is reinstating the underbanked analysis to the agency’s biannual unbanked survey, quoting a number of sources.
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Europe Equity Market Outlook: Fourth-Quarter 2022
Morningstar has published its latest Europe Equity Market Outlook: Fourth-Quarter 2022, showing data and analysis European equity markets for the fourth quarter of 2022. Here’s the main bit: Investor confidence has fallen to lows not seen since the very beginning of the coronavirus pandemic. This is, of course, unsurprising given the array of risks out there: high … Read more
JiPay throws in the towel
Singapore-based remittance app JiPay is being wound down. CEO Dayana Yermolayeva broke the news on LinkedIn. Why it matters: You rarely get honesty like this. Read it and wonder what might have been. Yermolayeva said: “I decided to wind down JiPay. We didn’t run out of money and we weren’t struggling to grow. In fact, … Read more
Jingle Pay joins forces with AFS
Financial app Jingle Pay, a provider of money services in the Middle East, North Africa and Pakistan, has joined forces with Arab Financial Services (AFS), a digital payments solutions provider and fintech enabler in the Middle East and Africa (MEA). So what? The pair say that they can now deliver “…unique digital payments and exceptional customer experience in the Kingdom of Bahrain.” It will … Read more
US Dexy launch
Hybrid banking app Dexy is about to launch in the US. It aims to help underbanked customers in emerging markets. It provides access to US dollars and cryptocurrencies. And it will enables SWIFT transfers to over 150 countries and the storage of stablecoin USDC and cryptocurrencies Bitcoin and Ethereum.
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
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
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
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
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