FinTech Focus: Catch latest developments of the week

By Gloria Methri

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:

• ACI Worldwide

Nepal Clearing House Limited (NCHL), under the leadership and guidance of Nepal Rastra Bank – Central Bank of Nepal, has chosen ACI to help drive the establishment and operation of National Switch Payment and rollout of NEPALPAY, enabling Nepal to reform and consolidate its entire payment ecosystem

• Montran

Italy’s premier bank Intesa Sanpaolo has partnered with Montran to unveil a cutting-edge multi-currency virtual account management platform. This strategic move enhances the bank’s ability to manage diverse currencies for clients, streamlining international transactions with unprecedented efficiency.

With Montran’s expertise and Intesa Sanpaolo’s commitment to innovation, this collaboration sets a new standard in multi-currency cash and liquidity management.

• Nearpay

We are thrilled to announce our partnership with PayTabs Global! By integrating Nearpay’s ‘Tap to Phone’ technology into PayTabs Global Touch app, we are enabling a seamless payment experience and merchants can accept payments with just a tap, right from their smartphones!

Powered by Nearpay’s payment infrastructure, PayTabs Touch now offers a modern, convenient, and secure contactless option for merchants and customers.

• PayU

Building on our PayU’s commitment to offering best-in-class financial services, LazyPay has integrated with Vault Core, Thought Machine’s cloud-native core banking platform to offer real-time financial statement generation, simplified multi-account management and more to LazyPay merchant partners.

• Temenos

We are excited to share that Puerto Rico-headquartered Segura Bank International, Corp. (SBI) has gone live with Temenos core banking platform deployed in the cloud to power a new digital bank for mid to high-earners in Latin America.

With Temenos banking capabilities for Multicurrency Accounts and Deposits, SBI will offer US dollar financial products, helping its customers protect their savings and enabling easier international transactions and access to global markets denominated in US dollars.

• Yapily

We’re thrilled to announce an industry-defining advancement: the launch of the world’s first Commercial Variable Recurring Payments (CVRP) in the UK, in collaboration with Ant International and HungryPanda Ltd. This marks a significant step forward in creating smoother, more efficient payment experiences for both merchants and consumers.