FinTech Focus: Catch latest developments of the week

By Gloria Methri

Social media platforms can offer insights, helping FinTech and digital payments companies analyse consumer behaviour and preferences, the most critical factors in the present, and industry trends.

With the ever-evolving digital landscape, it has become imperative for financial institutions to offer services that cater to consumers’ changing needs, and channels of interaction like social media can bridge that gap.

Similarly, numerous financial technology companies use social media platforms to announce product offerings, mergers, partnerships, and other developments to garner wider attention and better reach their target audience.

Let’s look at the top seven announcements made by the FinTech bigwigs this week:

• EPI Company

EPI is thrilled to announce the successful completion of its first account-to-account instant payment transactions with wero, EPI’s newly developed instant payment solution. This significant event was achieved today through a ‘proof of concept’ conducted between customers from Sparkasse Elbe-Elster in Germany and Banque Populaire and Caisse d’Epargne Groupe BPCE in France.

• IndusInd Bank

IndusInd Bank launches ‘eSvarna’, India’s first Corporate Credit Card on the RuPay network. This UPI-enabled Credit Card offers a host of exclusive rewards and benefits to corporate clients. This launch positions IndusInd Bank as the first in the country to integrate UPI functionality with a Corporate Credit Card. The card facilitates smooth transactions at merchant outlets and allows users the flexibility to make UPI payments by linking the card with UPI-enabled apps.

• Mambu

Trigger Software has launched the Neobank Engine solution powered by Mambu. Through this collaboration, we are empowering banks, telcos, and fintech companies to launch their own neobanks or digital wallets in just 6 months, all at a fixed price. Leveraging Mambu’s cloud-native API-driven platform, companies can benefit from a composable banking architecture with a single code base and publicly available APIs.

• PhonePe

Introducing the ‘Credit’ Section on the PhonePe App! Now, effortlessly check your credit score, manage cards/loans/bills payments, and get personalized credit reports — all in one place. Hemant Gala, CEO, PhonePe Credit emphasizes, “Financial empowerment begins with understanding and managing your credit health.” With the ‘Credit’ tab, users can access vital insights and take control of their financial health.

• REPAY

REPAY is excited to announce a payment integration with AKUVO. Financial institutions can now accept digital payments via Aperture, AKUVO’s collection management software, making the payment process easier for both financial institutions and consumers alike.

• Tarabut

We are excited to announce our partnership with Hakbah, the leading KSA-based FinTech savings platform. Hakbah enables users to save and access funds through social savings, making purposeful savings accessible and beneficial to everyone, especially the underbanked. Through this partnership, Hakbah will streamline onboarding, enhance data processing for its customers, and reduce the cost of its service.

• Worldpay

Our Worldpay eCommerce plugin for Shopify is now LIVE! Easy integration with your Shopify store, simplify your online payment process. Accept payments through credit and debit cards, Google Pay and Apple Pay.