FinTech Focus: Catch latest developments of the week

By Delisha Fernandes

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

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

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

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

• Checkout.com

Checkout.com appoints Standard Chartered Bank as banking partner in MENA. The partnership leverages technology to seamlessly integrate payment systems and deliver an infrastructure that will power our next phase of growth.

• Paysend

Paysend has successfully raised $65 million. The investment round follows the partnership with Mastercard announced earlier this year, through which Paysend will enhance cross-border payments for SMEs via the Open Payments Network (OPN).

• PhiCommerce

PhiCommerce has raised a Series A1 funding of $10 million. This round was led by Singapore-based beenextVC with participation from Opus Ventures.

• PayTabs

PayTabs Group has announced the launch of PayTabs Issuance, a secure prepaid card issuing solution aimed at scaling business operations regionally. The company aims to capitalise on this market shift by providing an efficient and streamlined card issuing service.

• Infosys Finacle

Bank of Commerce (Philippines), an affiliate of San Miguel Corporation group and one of the fast-growing universal banks in the Philippines, announced the selection of the Infosys Finacle Digital Banking Solution Suite for its core banking transformation.

• Mambu

Aldermore Bank, a UK retail bank and specialist lender, has entered a strategic partnership with Mambu to modernise the way it uses technology to provide a differentiated experience to its customers.