FinTech Focus: Catch latest developments of the week

By Delisha Fernandes

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:

• Finastra

Finastra has announced that Allied Banking Corporation (Hong Kong) has successfully migrated its core banking operations to the cloud, at the same time upgrading from Finastra’s Equation core banking solution to its next-generation Essence solution.

• National Payments Corporation Of India (NPCI)

Google India Digital Services and NPCI International Payments Ltd have signed a Memorandum of Understanding (MoU) to help expand UPI payments to countries beyond India. This initiative aligns with our commitment to bolster India’s position in the global digital payment landscape.

• Nuvei

Nuvei has partnered with the iconic Galeries Lafayette UAE. Our payment technology will enhance the shopping experience in the UAE, making transactions smoother and more secure for Galeries Lafayette UAE’s customers.

• Tulip

Tulip, a retail customer engagement solutions provider, has launched Tulip Pay, a payment integration powered by Stripe, a financial infrastructure platform for businesses.

• Veefin

Yes Bank has announced the launch of SmartFin, an end-to-end digital supply chain finance (SCF) platform, powered by Veefin Solutions. SmartFin facilitates digital SCF loans for dealers and suppliers of corporate clients, enabling them to achieve their strategic business objectives.

• Worldline

Worldline has signed a strategic partnership with Google to leverage cutting-edge technologies from Google Cloud to take its digital transformation further. As part of the partnership, Google will also work with Worldline to facilitate seamless online payments for Google’s customers in Europe.