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 six announcements made by the FinTech bigwigs this week:

• Backbase

Backbase is thrilled to announce a groundbreaking agreement with Danske Bank to redefine the future of financial services. Our Engagement Banking Platform will empower Danske Bank to enhance its digital customer experience and introduce innovative solutions.

• Finastra

Vietnam’s LPBank partners with Finastra to modernize its treasury capabilities, for enhanced customer experience and accelerated growth. “This agreement combines the technological strengths of Finastra, the strong local knowledge of NGS, and the spirit of innovation amongst LPBank’s Board of Directors. Finastra’s Kondor treasury solution will enable us to increase trading volume, improve transaction quality, shorten transaction operation time, and support the development of diversified demand for trading derivatives and more complex structured transactions.”ꟷ Ho Nam Tien, Vice Chairman cum General Director of LPBank

• Mylapay

We’re thrilled to announce our seed funding round, led by CDM Capital, joined by Co-investors Saison Capital and 77 Capital. Our goal is to create an all-encompassing tech ecosystem for end-to-end acquiring payment processing needs. This seed round acts as a turbo boost, driving us to lead the charge in revolutionizing the payments industry.

• PayMate

We are proud to announce our strategic partnership with the National Bank of Oman. This partnership will enable NBO’s corporate clients and SMEs to utilize their Visa Business Credit Cards for making supplier payments and automating their B2B payments. Together, we aim to create a secure transaction environment and enhance business efficiency with detailed reports, quick reconciliation, and transparent cash flow visibility.

• PortX

Today, we’re announcing a new partnership with Plaid, a leader in digital financial data connectivity! “Partners like PortX transforms banking infrastructure for financial institutions, aiding them in digital transformation and enabling rapid innovation,” said Tamara Romanek, Head of Partnerships at Plaid. “Together we are enhancing the digital infrastructure and optionality for financial institutions and their customers.”

• Yellow Card

We’re excited to announce our partnership with Coinbase to expand and simplify access to USDC and digital assets in Africa. Together, by combining Yellow Card’s regional expertise with Coinbase’s global brand and infrastructure, we will empower the next one billion people across Africa to participate in the future of finance.”