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FinTech Focus: Catch latest developments of the week

By Delisha Fernandes

February 23, 2024

  • BNP Paribas Fortis
  • Bud
  • Commerce Bank
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FinTech, TweetsFinTechs 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 has announced Unitas as a strategic partner for Finastra’s Kondor treasury solution in South Korea. Unitas is an AML compliance solution that will be deploying Finastra to cater to banks in South Korea.

Worldline has extended its partnership with BNP Paribas Fortis, the Belgian subsidiary of the French multinational bank BNP Paribas. The extension, which will last for at least five years, focuses on delivering best-in-class and customer-centric issuing solutions.

Commerce Bank has gone live with Temenos’ (Infinity) Loan Origination solution, delivering a fast, frictionless, hyper-personalized origination experience in five minutes or less. This follows the bank’s corebanking modernization project in 2022, when Commerce migrated over 2.5 million customers and 6.9 million accounts to the Temenos platform.

PhonePe has announced the consumer launch of its Indus Appstore at Bharat Mandapam in New Delhi. The Indus Appstore allows Indian consumers to download over 2 lakh mobile apps and games across 45 categories.

Bud and Fintech Galaxy join forces to redefine the financial landscape in the Middle East and North Africa region. With Bud’s cutting-edge transaction enrichment technology seamlessly integrated into Fintech Galaxy’s Open Banking platform, we’re unlocking a world of personalized financial experiences tailored to every need.

Nuvei Corporation, the Canadian FinTech company, has announced that it has launched direct local acquiring capabilities in Colombia, expanding its presence in Latin America (LATAM) and strengthening its overall footprint in the region.

ALSO READ: NextGen Core Banking: The Future of Banking Q3 2023

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