FinTech Focus: Catch the 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:

• Adyen

Since our first acquiring license 12 years ago, we have steadily brought our full-stack payment solution to markets around the world. Today, we are excited to officially announce we’re processing payments in India and building out our technology hub in Bengaluru.

• Deutsche Bank

Upvest joins forces with Deutsche Bank, one of the world’s leading financial services providers! This strategic partnership gives Upvest’s clients access to comprehensive end-user cash management solutions, virtual IBANs, and foreign exchange services through Deutsche Bank.

• FIS

FIS is thrilled to announce a new collaboration with Neural Payments, a FIS accelerator alum that is drastically streamlining the process of sending and receiving digital peer-to-peer payments.

By leveraging its global scale and NYCE debit rails, FIS banking clients will be able to embed Neural Payments’ whitelisted capabilities directly into their mobile banking apps, ultimately unlocking efficiencies for the modern consumer and reducing friction in an increasingly digitized economy.

• Flutterwave

Flutterwave merchants in Africa can now accept American Express payments! AmEx Card Members with consumer, business, or corporate cards can make direct payments to e-commerce businesses using Flutterwave in Nigeria.

This service will also be available for Flutterwave’s online businesses in Tanzania, Rwanda, Ghana, and Uganda soon.

• Klarna

Klarna is on a mission to disrupt retail banking, and we’re taking a BIG step forward. Introducing two new features, Klarna balance and cashback, to transform your everyday spending and saving habits.

With Klarna balance, you can store money directly from your bank account, earn cashback rewards when you shop in the Klarna app, and manage refunds from returned items more efficiently. Our cashback feature rewards you for shopping in the Klarna app.

• Network International

Network International is delighted to partner with Citi to serve their global enterprise customers with our market-leading e-commerce and in-store digital payment solutions. Together, we will help global businesses accelerate their growth in the Middle East and Africa.