FinTech Focus: Catch latest developments of the week

By Gloria Mathias

FinTechs continue to play a pivotal role in transforming and reshaping the traditional contours of the financial industry. As technology becomes increasingly intertwined with financial services, FinTech innovations are not merely incremental but rather revolutionary, paving the way for enhanced efficiency, accessibility, and novel business models.

This week’s FinTech Focus brings forth a curated selection of the most significant developments that underscore the dynamic nature of this sector.

Let’s look at the top six announcements made by the FinTech bigwigs this week:

• FIS 

FIS is proud to announce the launch of SMB Digital Lending, a new solution to help banks profitably source, underwrite, and fund loans of any size to small and medium-sized businesses. Created in partnership with Lendio, the new solution leverages advanced analytics and machine learning to help banks better help SMBs.

• Paycorp Group

Paycorp is excited to share that we’ve expanded our services into embedded business funding in both South Africa and the UK. With over two decades of experience, we continue to shape the future of payments across Southern Africa, Central and Eastern Europe, and the UK. We’re proud to be recognised as innovators, leveraging a collaborative and integrated ecosystem. We blend expertise, reliability, and agility in transaction processing, cash management solutions, value-added services like cardless and crypt, and now also embedded business funding.

• Profile Software 

Profile Software has announced that First Global Bank Limited has chosen our Smart Banking solution to offer comprehensive banking services, including client onboarding and product origination facilities.

• Quantifeed

Quantifeed is excited to partner with Thought Machine to bring next-generation wealth management solutions to banks. Our combined proposition enables banks to service their customers through more digital engagement and increase the productivity of their relationship managers.

• Systems Limited 

Systems Limited is thrilled to partner with Formpipe to revolutionize the banking technology landscape in the MEA and KSA. By integrating Formpipe’s modern CCM platform with our advanced banking offerings, we’re poised to transform customer onboarding, loan origination, and document management processes for global banks. This strategic collaboration promises streamlined processes and a seamless banking experience at the lowest total cost of ownership, providing unparalleled value to our customers.

• Terrapay

TerraPay’s partner network grows stronger with new alliances! Terrapay is excited to partner with Alawneh Exchange | العلاونه للصرافة, a leading financial services provider in the Middle East. This collaboration will enable seamless international money transfers, ensuring reliable and convenient financial solutions.