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:

• areeba

CBI partners with areeba to enhance FinTech payment solutions in the UAE. This collaboration underscores areeba’s commitment to supporting FinTechs and neobanks across the UAE, enabling them to adapt seamlessly to the ever-changing payment landscape. By providing scalable and modular payment infrastructure, areeba empowers its customers to accelerate the launch of their card programs and tailor products according to their specific needs.

• BharatPe

In its mission to make UPI payments safer and worry-free, BharatPe has launched BharatPe Shield, a comprehensive fraud protection plan designed to safeguard digital transactions.

• Fonepay

Compass Plus Technologies has announced a major milestone for Nepal’s largest interoperable payment network, Fonepay: the launch of Nepal’s first virtual credit card. The new solution offers secure, flexible, and cost-effective digital credit options for financial institutions across the country. With two major local banks having already adopted the service and a third set to join, this marks a key step in Fonepay’s mission to establish itself as a fully-fledged locally operated payment network in the country.

• Mambu

Mambu has acquired payment solutions provider Numeral, bringing together two innovative FinTech leaders to deliver exceptional banking and payment experiences. Together, the companies aim to imagine and lead the future of banking, accelerating and advancing the next generation of financial products.

• PayPoint

PayPoint and Handepay have announced a strategic partnership with Lloyds Business & Commercial. This collaboration is a step forward in delivering further value to UK retailers and SMEs.

• Temenos

Temenos has added Valu-Trac Investment Management Ltd. to the Temenos Multifonds community. As a SaaS client, Valu-Trac is poised for future growth by leveraging Multifonds across its comprehensive suite of middle, back office, and transfer agency services.