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FinTech Focus: Catch latest developments of the week

By Gloria Mathias

June 14, 2024

  • APAC
  • Europe
  • Fintech Focus

Fintech India, fintech solutions, Fintech focus, Fintech solutions, Fintech roundup, MENA, India, USA, APAC, UK, Europe, 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:

Mbank and Policy Bazaar Insurance announce a ground-breaking partnership that redefines insurance access for individuals and SMEs and paves the way for a future where insurance needs are managed within a secure and convenient digital environment. This first-of-its-kind service empowers Mbank customers to seamlessly explore, compare, and purchase a wide range of car, health, travel, and life insurance products by simply scrolling through the Mbank mobile application. With Policybazaar. ae‘s robust online platform seamlessly integrated into Mbank’s digital ecosystem, this collaboration offers Mbank customers unparalleled benefits such as effortless navigation, competitive rates, informed decisions, and ultimate convenience.

HSBC completed its acquisition of Citi’s retail wealth management portfolio in mainland China. The bank is delighted to welcome new customers across 11 major cities and to welcome more than 300 talented colleagues into the HSBC family. Growing its wealth capabilities in mainland China is a vital part of ambition in Asia. It wants to be the leading wealth manager in Asia, enabling our customers to grow, manage and protect their wealth through the breadth of our capabilities and our global approach.

Intellect Design Arena Ltd is delighted to announce the launch of Digital Engagement Platform (DEP), the world’s only codeless engagement banking platform! Uniquely positioned to integrate seamlessly with any core banking system and/or third-party applications, is paving the way for seamless, intuitive customer interactions that set new industry standards.

Big news from Amsterdam! BridgeFund, the Dutch challenger SME lender, chooses Mambu to fulfil its mission of bridging the financial needs of entrepreneurs. Together, they’re transforming the landscape of SME lending.

Faster payments. Better CashFlow. Helping businesses grow. Introducing Regions CashFlowIQ, the latest TreasuryManagement solution powered by BILL, that helps businesses transform cash management operations.

XTransfer partners with Banking Circle!

This collaboration aims to reduce the cost and processing time of cross-border payments for XTransfer’s clients, particularly benefiting Chinese suppliers with significant markets in Europe and the Middle East. With Banking Circle’s infrastructure, XTransfer can now offer its clients a broader array of local payment and fund collection options. Clients will be able to receive payments not only in major currencies like the USDollar, Euro, GBP, and Danish Krone but also in six additional currencies in the hashtag Europe and the hashtag Middle East. This partnership is expected to expand further, with plans to introduce even more currency options in the near future.

Also read: IBSi FinTech Journal March 2024 Edition

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