الوسم: FinTech

  • How Alipay+ Connected 90 Million Merchants Worldwide

    How Alipay+ Connected 90 Million Merchants Worldwide

    Market Growth

    Small and medium-sized enterprises (SMEs) make up a staggering 90% of the merchant network, which encompasses sectors such as transportation, retail, and hospitality.

    In the Philippines, recent developments feature the expansion of SM Supermalls’ retail chain and Hennan Group’s portfolio, which includes ten resort properties in Boracay and Bohol.

    The platform has established collaborations with a variety of international retailers, including Resorts World Sentosa, Marina Bay Sands, Central Retail, King Power, Pavilion KL, Lotte World, Olive Young, Daimaru, Printemps, and Galleries Lafayette.

    To streamline the integration process for these merchants, standardized QR protocols have been implemented.

    Consumer-Friendly Zones in cities like Beijing, Shanghai, Guangzhou, Shenzhen, and Chengdu offer the necessary infrastructure for international payment processing.

    These zones are equipped with bilingual support services and training programs for merchants to enhance the facilitation of cross-border transactions.

  • SC Ventures and Yabx Invest $10M in African Fintech Furaha

    SC Ventures and Yabx Invest $10M in African Fintech Furaha

    Discovering Furaha

    Founded in 2023, Furaha is Africa’s first purpose-driven financing platform, seamlessly integrating technology with human empowerment.

    With a mission to unlock financial opportunities for the often overlooked middle segment, Furaha utilizes cutting-edge technology alongside community-focused solutions to craft customized financial pathways.

    Specializing in educational financing, Furaha is dedicated to ensuring that quality education is within reach through their loan programs, directly supporting Sustainable Development Goal 4.

    Grounded in principles of integrity, innovation, and accountability, the Furaha team works collaboratively to turn financial obstacles into opportunities for growth, reflecting their vision of how purpose-driven financing can spur societal progress.


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  • Can Trump 2.0 Propel Fintech and Insurtech Growth?

    Can Trump 2.0 Propel Fintech and Insurtech Growth?

    Despite existing challenges, the outlook for a thriving fintech sector looks bright. Yates envisions a future where the fintech landscape is rigorously tested and reinforced by cutting-edge technologies, focusing on an increasingly appealing U.S. market.

    For businesses within the insurtech realm, flexibility is essential. They need to be ready to react to shifts in geopolitics, the economy, and societal trends through innovation and strategic development.

    Yates states: “Regardless of predictions, it’s clear that tech-driven startups must possess a high degree of adaptability, adjusting to geopolitical, economic, and societal changes like never before. Therefore, concentrating on value creation, selective expansion, and maintaining a sharp focus on profitability—or the fastest route to achieving it—will be crucial.”

    The combination of streamlined regulations and enhanced technological integration could pave the way for new avenues of innovation in the insurance industry.

    However, seizing these opportunities will necessitate skillfully navigating the complex interactions between political policies, technological advancements, and market trends.

    As the industry progresses, organizations that can blend traditional risk management practices with state-of-the-art technological solutions while quickly adapting to changes will likely emerge as leaders in the market.


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  • Lyca Pioneers Revolut Pay Integration for UK Telecom Payments

    Lyca Pioneers Revolut Pay Integration for UK Telecom Payments

    Antoine Le Nel, the Chief Growth and Marketing Officer at Revolut, recently emphasized the company’s impressive pace of customer growth, stating, “We have surpassed 50 million customers in under ten years, which is a remarkable milestone and a clear indication that consumers are seeking more value from their finances.”

    The integration with Lyca Mobile serves as a tangible example of Revolut’s strategy to broaden its offerings beyond conventional banking.

    Looking ahead to 2025, Revolut plans to enhance its business services by launching Revolut Kiosk, aimed at retail operations. This initiative will delve into biometric payment solutions—technologies that could seamlessly connect with its telecom partnerships.


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  • Airwallex Launches Dual Market Entry in Latin America

    Airwallex Launches Dual Market Entry in Latin America

    Airwallex is broadening its regulatory reach, now holding licenses in a variety of regions, including Australia, the European single market, Canada, Malaysia, Hong Kong, New Zealand, Singapore, mainland China, the United Kingdom, and the United States.

    Founded in Melbourne, Airwallex caters to over 150,000 businesses worldwide, working with a diverse client base that includes companies like Brex, Rippling, Navan, Qantas, SHEIN, and more.


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  • Banking Circle Expands in Australia with ASL Acquisition

    Banking Circle Expands in Australia with ASL Acquisition

    “Australia represents a key market for Banking Circle because of its robust cross-border trade flows and vibrant banking and fintech sectors,” states Laust Bertelsen, the CEO of Banking Circle.

    “This acquisition strengthens our dedication to delivering smooth and affordable payment solutions for both Australian financial institutions and our worldwide clients.”

    Integration and Market Impact

    This strategic merger unites two complementary businesses focused on providing essential financial infrastructure.

    The goal of this integration is to give Australian financial institutions better access to international payment options while also allowing international players to utilize Australian dollar settlement services.

    This partnership is expected to enhance the accessibility, efficiency, and affordability of financial services within the Australian market.

    For ASL, the acquisition is set to elevate its service capabilities significantly.

  • ClearBank Boosts UK Payments Infrastructure with Airwallex

    ClearBank Boosts UK Payments Infrastructure with Airwallex

    Technical Integration

    This integration leverages ClearBank’s cloud-based infrastructure to connect with various UK payment networks.

    The Faster Payments system allows for near-instant transfers between UK bank accounts, whereas BACS manages direct debits and credits with a two-day settlement period. For high-value transactions, CHAPS offers same-day settlements.

    The focus of this implementation was on quickly rolling out services.

    “Our main goal is to deliver quick, adaptable, and smooth financial services to businesses. ClearBank’s agency banking solution aligns seamlessly with our vision, enabling us to enhance our offerings in the UK while preserving our brand identity,” states Vivien Cheung, Head of Financial Partnerships for EMEA at Airwallex.

    Vivien further emphasizes, “The team’s profound understanding of our business requirements along with their quick execution has been crucial throughout the development of our partnership and the integration process.”

  • Adyen Unveils AI-Powered Payment Suite for 6% Conversion Lift

    Adyen Unveils AI-Powered Payment Suite for 6% Conversion Lift

    Adyen has rolled out a new AI-driven payment optimization tool that claims to enhance transaction success rates by as much as 6% in comparison to traditional payment systems.

    Named Adyen Uplift, this innovative product suite utilizes machine learning algorithms to scrutinize payment data, automating decisions regarding transaction routing, fraud detection, and cost management.

    The system leverages insights from over a trillion dollars in processed payments across Adyen’s extensive global platform.

    So far, 60 enterprise-level businesses, including outdoor apparel brand Patagonia, job platform Indeed, cybersecurity company NordSecurity, and streaming service Fubo, have tested the system.

    These early users encompass a diverse range of digital commerce sectors, from retail to subscription-based services.

    Enhancing Payment Processing and Preventing Fraud

    This technology tackles a long-standing issue in payment processing: finding the right balance between authorizing legitimate transactions and thwarting fraud.

    Traditional systems often force merchants to make a choice between higher transaction approval rates and robust fraud prevention, which can result in lost sales or increased vulnerability.

    For example, Swiss performance sportswear brand On reported a 2% rise in successful transactions since they began using the system.

    “With Adyen’s AI, we’ve improved our conversion rate by up to 2%, making a significant impact on our operational performance and cost efficiency, all while keeping fraud under control,” stated Luca Spichtig, Head of Digital Operations & Projects at On.

  • Apptio Unites Cloud Control with ESG Initiatives

    Apptio Unites Cloud Control with ESG Initiatives

    Integrating Sustainability

    While it’s crucial for organizations to prioritize speed and operational effectiveness when implementing automation tools and other technologies, the environmental impact and energy consumption of these tools cannot be overlooked.

    Ann Marie Chow, Vice President of Global Customer Operations and Sustainability at Apptio, emphasizes that sustainability metrics should be integrated into current operational workflows. “When budgets are tight, it’s easy to sideline sustainability, but incorporating it into your existing processes allows you to achieve multiple goals simultaneously,” she states.

    Apptio’s strategy emphasizes quantifiable metrics, focusing particularly on power usage measured in compute hours. “We assess our environmental costs based on power consumption because it’s a quantifiable aspect,” Ann explains.

    “Estimating carbon emissions can be imprecise, so we concentrate on power usage, which directly correlates with organizational actions,” she adds.

    Apptio’s GreenOps features are already delivering impressive outcomes. Recently, the global payments giant, Mastercard, earned recognition as a finalist in the TBM Council Awards for its strides in technology sustainability while effectively managing costs.

    Greg underscores that considerations of sustainability are playing a growing role in technology decisions: “Some CIOs are opting to forgo certain workloads that, despite offering business value, come with disproportionate sustainability costs,” he notes.

    “We’re observing a broader perspective that looks beyond carbon emissions to include water resources and other sustainable assets that companies risk squandering.”

    Highlighting the environmental angle can engage employees more effectively than merely emphasizing financial savings.

    “At a large bank, engineers might not be particularly concerned about increased costs,” Greg points out. “However, presenting them with data that shows how their actions can positively impact the environment could shift their perspective.”

    Compliance and Sustainability Actions

    Environmental considerations are not just vital for cloud, automation, and AI expenses; they are also essential for compliance with regulations. In Europe, for example, the Corporate Sustainability Reporting Directive (CSRD) has propelled the adoption of integrated monitoring solutions.

    “In EMEA, where legislation plays a strong role, CSRD has drawn increased attention,” Ann explains. “Recent legislation in Australia and various other regions has further accelerated this trend.”

    The regulatory environment is continuously changing, with escalating consequences for those who fail to comply.

    “Europe was one of the first regions to implement sustainability regulations. Now, regulators are imposing fines for non-compliance. It’s no longer just about transparency,” Ann adds.

    “The repercussions of inaction in IT divisions will soon impact CFOs and Chief Risk Officers. Establishing partnerships early is key.”

    New regulations, like the Digital Operational Resilience Act (DORA), introduce additional requirements. “I find myself discussing this daily,” Mallory shares.

    “We can provide data that aids in making informed transfer pricing decisions, which can alleviate tax burdens. While we aren’t a tax accounting software, we offer valuable visibility for accountants to make decisions.”

    Managing Data Sovereignty

    The issue of data sovereignty is becoming increasingly important. “Costs associated with data storage, including warehouses and databases, can be tracked in the cloud,” Mallory clarifies.

    “Organizations in highly regulated sectors, like financial services and healthcare, are retaining data but may be uncertain about its management and future use.”

    Recently, Apptio opened a data center in the UAE within AWS to host Cloudability and cost planning for Apptio. “As more individuals globally transition to cloud solutions, they desire control, visibility, and exclusive access to their data,” Greg notes. “We’re also hosting solutions on Azure alongside AWS, which is significant.”

    The company’s approach to data management highlights the evolving sophistication of the market.

    “We combine various data sets and model them to provide a holistic view of a business,” Mallory explains. “It’s the same foundational data presented differently, enabling organizations to make informed decisions, optimize operations, discontinue unneeded services, and invest in lucrative opportunities.”

    Looking Ahead: Market Shifts

    As Apptio plans for the future, they focus on the growing intersection between financial operations and sustainability tracking.

    “I’m thrilled to see how GreenOps can integrate with TBM and FinOps, potentially becoming a benchmark or framework,” Ann states. “Currently, no gold standard exists, but establishing one is an important future direction.”

    Automation will also become increasingly significant. “Our clients have shown enthusiasm for this. I can’t count the number of times we’ve reviewed potential savings, like a possible $1 million reduction,” Mallory reveals.

    “For any organization, targeting the top ten cost-saving opportunities is crucial since they comprise a large share of unnecessary expenditures.”

    “However, many companies are also faced with a long list of smaller, seemingly less significant costs that collectively add up. Addressing these manually demands substantial hours. Apptio can identify these expenses and automate their elimination.”

    Greg observes similar trends with AI adoption: “What we’ve found is that AI is following a pattern requiring a centralized team to oversee financial operations. The CTO’s role will become more pivotal in identifying suitable AI solutions for various applications,” he adds.

    Clearly, as companies navigate more complex technological landscapes, Apptio’s integrated strategy for cost management, sustainability, and automation offers a comprehensive framework for informed decision-making.

    With the integration of AI into Apptio’s tools, spending behaviors that might have gone unnoticed by humans are now detected.

    “Thanks to AI and advanced language models, we can utilize our clients’ data in ways that were previously unforeseen. This is one of AI’s remarkable advantages—its ability to uncover patterns at unprecedented speeds, resulting in effective cost reductions for our customers across various sectors,” Mallory concludes.

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  • May’s FinTech Highlights: A Year in Review

    May’s FinTech Highlights: A Year in Review

    Wipro, a top player in technology services and one of the leading consulting firms in the financial services sector, has joined forces with Microsoft to unveil a range of generative AI-driven cognitive assistants: Wipro GenAI Investor Intelligence, Wipro GenAI Investor Onboarding, and Wipro GenAI Loan Origination.

    These innovative virtual assistants (VAs) are designed to aid financial services companies in boosting productivity, streamlining client onboarding, and enhancing client interaction.

    Wipro & Microsoft: Empowering Finance Professionals

    By harnessing the power of Generative AI, Wipro aims to equip finance professionals with profound market insights, providing them with timely information regarding investment products and investor behavior.

    Additionally, Wipro’s new VAs will expedite the processes of investor onboarding and loan origination by drastically shortening the time required for document validation and contextual responses to investor inquiries.

    Utilizing Microsoft Azure OpenAI, Wipro’s cognitive assistants will seamlessly integrate with existing mobile and digital platforms to create a unified source of information, delivering a smooth user experience for finance professionals.

    Suzanne Dann, CEO of Americas 2 Strategic Market Unit at Wipro Limited, stated, “Generative AI ushers in a new era of opportunities for outstanding client experiences and improved productivity within the financial services landscape.”

    “This new suite of solutions, supported by Microsoft, will grant financial advisors and banking professionals enhanced and quicker access to market and product intelligence, allowing them to offer more tailored and timely services to their clients.”

    “These solutions will also streamline the often tedious and repetitive steps involved in onboarding new investors or originating loans, reducing the time dedicated to paperwork. We are excited to further strengthen our collaboration with Microsoft in this arena and continue providing state-of-the-art solutions to our financial services clients.”

    Three Additional Highlights from May

    Introducing Salt Bank, Launched by GFT Engine by Starling

    Sopra Steria: 75% of Banks Not Prepared for Open Banking

    Red Hat: How Banks Should Leverage Generative AI for Transformation


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  • January Highlights in FinTech: A Year Unfolding

    January Highlights in FinTech: A Year Unfolding

    After a thrilling period of rapid expansion, 2023 has been widely acknowledged as the year of adjustment for the fintech sector, as the industry matures and numerous players continue their digital transformation initiatives.

    According to McKinsey & Company, fintech is currently entering a new chapter of value creation, where companies are competing to achieve sustainable and profitable growth.

    So, what strategies can businesses employ to maintain and enhance their impact on customers, the broader financial ecosystem, and the global economy?

    Drawing from its analysis, McKinsey has identified several key themes that will shape the future of this sector.

    Cost Management is Crucial for Fintechs

    McKinsey’s research indicates that during the previously mentioned period of rapid growth, fintech companies prioritized swift expansion over cost management, when they had greater access to capital and more frequent funding opportunities.

    Now, finding the right balance between cutting costs, maintaining customer satisfaction, and continuing growth has become a top priority. Leaders are exploring various strategies to reduce expenses and drive profitability.

    The research shows that 50% of publicly traded fintechs were profitable in 2022, with effective cost management being the key factor distinguishing successful firms from those struggling to achieve profitability, as opposed to just focusing on revenue growth.

    “Achieving success through cost management is vital for fintechs as they enter this next phase of development,” state the authors. “While fintechs sharpen their focus on expenses, they should also rethink their operational strategies to create more agile and adaptable organizations capable of navigating the current landscape.”

    In fact, four out of five fintech firms surveyed by McKinsey reported making adjustments to their operating models, with two-thirds highlighting a focus on profitability and sustainable cost structures as a critical element in their plans for the future.

  • Banking Tech Challenges: Insights from HCLTech’s 2025 Report

    Banking Tech Challenges: Insights from HCLTech’s 2025 Report

    Talent Acquisition and Skill Development for Modern IT Platforms

    As new technologies emerge, banks must ensure they have the skilled workforce necessary to manage these advancements. A well-structured strategy for talent acquisition and skill enhancement in the financial sector is essential to address the changing needs of contemporary IT platforms and the dynamic technology landscape.

    Organizations can show their dedication to skill development by implementing comprehensive training programs aimed at creating a competent and future-ready workforce.

    The upcoming year will serve as a crucial period for banks, challenging them to effectively prepare for growth amidst the evolving financial and tech environments.

    These challenges highlight the importance of banks remaining flexible, innovative, and forward-thinking in adopting new technologies, all while maintaining security and compliance throughout the process.

    HCLTech, with its cutting-edge and diverse offerings, is well-prepared to support banking institutions as they address significant technological challenges in the year ahead.

    With a foundation in engineering and extensive industry expertise, HCLTech can accelerate its banking clients’ digital transformation journeys. Our strengths encompass the entire process, from innovation to implementation and customer support.

    While there may be some technological and regulatory obstacles anticipated in 2025, the right modernization strategies, combined with adherence to regulatory standards and cybersecurity measures, the integration of the latest technologies, and the selection of the right digital partner, can enable banking institutions to thrive despite challenges.


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  • 90% of Banks Go Hybrid Cloud: SBS Joins Forces with Red Hat OpenShift

    90% of Banks Go Hybrid Cloud: SBS Joins Forces with Red Hat OpenShift

    Bridging Legacy Systems with Cloud Technology

    Research shows that 90% of financial institutions are adopting a hybrid model for cloud integration, balancing their existing systems with new cloud-based solutions.

    This approach enables banks to safeguard their infrastructure investments while also upgrading their technology framework.

    SBS, which counts clients like Santander, Société Générale, and Toyota Financial Services among its partners, is set to incorporate Red Hat OpenShift into its financial software offerings.

    This platform delivers what the industry refers to as “cloud-native” features—applications specifically designed for cloud computing environments—while enabling banks to keep sensitive information securely within their existing systems.

    This collaboration represents a significant evolution for SBS, which was formerly recognized as Sopra Banking Software.

    Ranked among the top ten fintech providers in Europe by IDC, the company boasts a workforce of 3,400 employees across 50 locations worldwide.

  • BVNK Secures $50M to Enhance Stablecoin Payments in the U.S.

    BVNK Secures $50M to Enhance Stablecoin Payments in the U.S.

    BVNK, a provider of stablecoin payment infrastructure, has successfully raised $50 million in Series B funding to bolster its operations in the United States. This funding round highlights the growing interest from institutions in digital currency payment solutions.

    Headquartered in London, BVNK specializes in facilitating stablecoin transactions for businesses. The newly acquired funds will be directed towards opening offices in both San Francisco and New York City.

    The funding round was spearheaded by Haun Ventures, joined by Coinbase Ventures, Scribble Ventures, DRW VC, along with existing backers Avenir and Tiger Global.

    Expansion and Collaborations

    Since its Series A funding in 2022, BVNK has seen impressive growth, handling over $10 billion in annual payment volumes, which reflects a remarkable 200% increase year over year.

    The company offers a robust infrastructure that allows businesses to easily send, receive, and store stablecoins—digital currencies that are intended to maintain their value by being linked to traditional currencies such as the US dollar.

    BVNK has formed key partnerships with major players such as PayPal, Circle (the issuer behind the USDC stablecoin), and First Digital, enhancing access to significant stablecoin options. The firm’s clientele includes notable companies like global payroll service Deel, payment solutions provider Rapyd, and merchant services firm Trust Payments.

    Earlier this year, BVNK introduced Layer1, a software solution tailored for enterprises to manage their stablecoin payments more effectively. This platform is designed for businesses looking for viable alternatives to conventional payment systems like Swift for international transactions.

  • Top Banking and Fintech Trends to Watch for in 2025

    Top Banking and Fintech Trends to Watch for in 2025

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  • Mastercard Aims for Passwordless Payments to Enhance Security

    Mastercard Aims for Passwordless Payments to Enhance Security

    Integration of Real-Time Payments and Blockchain Technology

    The global payments industry is advancing at an astonishing pace. Real-time payment systems are now in operation in over 100 countries, with projections estimating that they will handle 575 billion transactions by 2028—representing 27% of all electronic payments worldwide.

    At the same time, blockchain technology is expanding beyond the realm of cryptocurrency, paving the way for innovative solutions in areas like capital markets and trade finance.

    This evolution has sparked an unprecedented level of collaboration between established financial institutions and companies focused on cryptocurrency, all aiming to develop more efficient payment systems.

    One of the most exciting prospects is the tokenization of assets through blockchain, which facilitates the digital transformation of a variety of financial activities across the industry.

    In brick-and-mortar retail, contactless payments have become commonplace, making up two-thirds of all in-person transactions on Mastercard’s network.

    Mastercard’s Tap on Phone technology has streamlined this shift, allowing everyday mobile devices to function as payment terminals, which minimizes the need for complicated setups—a significant advantage for small businesses and independent entrepreneurs.

  • FinTech LIVE: Exclusive Chat with SAP’s Bernhard Schweizer

    FinTech LIVE: Exclusive Chat with SAP’s Bernhard Schweizer

    The premier event of the global FinTech LIVE series, FinTech LIVE London 2024, aimed to inspire and empower executives at the C-suite, vice president, and director levels within enterprise organizations in the fintech sector.

    This year’s hybrid event offered a lively and engaging online platform, enabling participants to connect, learn, and share insights about the latest developments, challenges, and effective strategies in fintech and financial services.

    Creating an energetic environment, FinTech LIVE London provided fintech leaders from the UK and Europe with the opportunity to build relationships and explore the most urgent fintech challenges their organizations are facing.

    In this recap, we highlight our exclusive interview with Bernhard Schweizer, the Head of SAP Digital Currency Hub at SAP, during FinTech LIVE London.