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 5 announcements made by the FinTech bigwigs this week: 

• Aurionpro

Big news!

State Bank of India chooses Aurionpro’s iCashpro+ for their next-gen cash management platform! This exciting partnership will bring a seamless and future-ready experience to SBI’s customers.

• Backbase

Exciting news! Backbase joins forces with West Monroe to fast-track digital transformation in banking. Our Engagement Banking Platform, merged with West Monroe’s advisory & digital skills, sets the stage for modernising online banking experiences.

• Paymentology

Paymentology is excited to announce our partnership with 2innovate, a global pioneer in next-generation SaaS for banking and digital transactions.

As part of this partnership, 2innovate will work closely with Paymentology, sharing insights and expertise to foster the continued innovation and development of payment processing standards. This collaboration further solidifies 2innovate’s position as a forward-thinking company dedicated to staying at the forefront of industry advancements.

• PPRO

PPRO is thrilled to announce a major milestone for PPRO! We’ve completed a dual tranche funding round totaling €85 million to pursue growth in key markets and further enhance our global network of local payment methods!  The funding is provided by new and existing investors, including Eurazeo, HPE Growth, Sprints, PayPal Ventures, J.P. Morgan, Citi Ventures, and funds managed by BlackRock.

• SaaScada

Electronic Money Institution (EMI) The Payment Firm Limited has chosen SaaScada to power its new payment services for SMEs and individuals. The Payment Firm’s easy-to-use, customer-centric solutions will cover the full span of payment services, initially providing accounts with virtual IBANs before expanding into multi-currency accounts, cross-border payments, card issuing, and accounts with virtual SWIFT. Its open book pricing model and robust compliance are designed with fairness and honesty in mind, with competitive pricing and easy functionality.