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 five announcements made by the FinTech bigwigs this week:

• Axway

“We are thrilled to announce that Axway has finalized the acquisition of Sopra Banking Software (SBS), forming a new software Group led by CEO Patrick Donovan. Axway, now under the leadership of our new CEO Roland Royer, is poised for a seamless transition and continued success.”

• Mastercard

“We are thrilled to team up with boAt Lifestyle to bring you a game-changer in contactless payments. Just tap with your payment-enabled Boat wearable device, and you’re good to go – it’s that simple and secure, thanks to our cutting-edge device tokenization. This is not just a step forward in contactless payments; it’s a leap towards redefining the digital payments experience with wearable tech.”

• Tarabut

“We are thrilled to announce our strategic partnership with The Saudi National Bank – SNB, one of the leading financial institutions in the Kingdom of Saudi Arabia. Through this partnership, we are helping to bring forward enhanced digital offerings tailored to the evolving needs of SNB’s customers, and we look forward to the exciting developments ahead!”

• Temenos

“Temenos is pleased to announce that MidWestOne Bank, a community bank headquartered in Iowa, has gone live with Temenos’ Digital Onboarding as SaaS on Amazon Web Services (AWS). The solution, implemented by RCG Global Services, enables MidWestOne Bank to enhance customer acquisition and retention with fast, frictionless digital banking experiences.”

• Visa

“Visa is delighted to partner with HDFC Bank and take another step to digitize millions of merchants in India with the launch of the all-in-one POS device! A compact payment device for merchants that integrates point-of-sale (PoS), QR code scanner, and Soundbox, the device will revolutionise how varied enterprises in India process card and contactless transactions.”