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:

• 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.”

• NOW Money

“NOW Money is pleased to announce new strategic partnerships with Commercial Bank International (CBI) and Network International (Network). The partnership will enable NOW Money to leverage CBI’s banking infrastructure and expertise to enhance its capabilities to deliver efficient, secure, and comprehensive banking solutions to users. Network International will be NOW Money’s key partner in payment processing.”

• Veefin

“Veefin’s acquisition of Nityo Tech (Nityo Infotech Singapore’s India-invested business) is a strategic move aligned with our mission to optimize working capital for businesses. Nityo Tech’s digital expertise, particularly in Banking, enhances Veefin’s ability to offer tailored, technology-driven solutions to banks and NBFCs, addressing unique challenges in working capital management.”

• Visa

“Tapping is more than just a convenience; it’s revolutionizing in-person payment experiences. Tap to Phone takes tapping to the next level by converting smartphones into contactless payment terminals. We’re proud to highlight our partnership with Stripe, helping millions of businesses easily accept fast and secure payments.”

• Worldpay

“We are excited to share that Irish Bank PTSB has renewed their partnership with us to elevate merchant services for our commercial customers. Our collaboration will provide access to cutting-edge e-commerce technology while delivering seamless payment experiences for businesses and their customers.”

• 10x Banking

“Thanks to our strategic partnership with LTIMindtree, exciting times are ahead for Tier 1 and 2 banks worldwide as they modernize their legacy core systems. By uniting 10x’s meta core banking platform and LTIMindtree’s deep expertise, we’re empowering more banks and financial institutions to deliver superior services for their customers.”