Covid-19 has spurred innovations within the fintech world as consumers and the finance industry alike seek ways to make safe and contactless transactions. Fintech news dominates, exemplified by banks, fund managers and technology providers investing in and developing innovative tools and concepts.
As a PR firm that works with a number of innovators spanning fintech, financial services, fund management, broker dealer and equity crowdfunding, FischTank PR always keeps its eye on fintech news and breakthroughs. Here are some of the articles we’re tracking this week.
“As remote operations and contactless procedures are becoming the new normal, the Fintech sector has been experiencing a rising hunger towards moving to a 100% digital implementation of nearly all financial products and services. It has also accelerated the demand for must-have innovations and technologies that provide seamless and personalised banking experiences to its customers, as well as guarantee a near-flawless execution in managing fraud activities.”
“Small business Banking-as-a-Service rises to the top in this week’s roundup of the latest bank-FinTech collaborations and open banking initiatives. Two SMB BaaS companies secured new funding, while FinTech Wise says it is ushering in a new definition of open banking with its embedded banking functionality. Meanwhile, Prime Trust launches a new portal for banks to manage crypto, and Radius Bank releases its own API-powered developer sandbox.”
“Turning away from PayPal’s income statement, it detailed a wealth of fintech-specific data to parse, including results that appear to indicate that rising consumer usage of fintech products during the pandemic is continuing. For example, the company reported what it described as the “strongest” pace of growth in its total payment volume in its history.”
The Pandemic And Payments: How Digital And Cash Have Allowed The Leading Money Transfer Players To Adapt
“For the leading incumbents, a transaction initiated digitally and paid out in cash counts as a digital transaction. That means that both their cash capability and investments in digital have helped them adapt their business models and find new paths to growth at the most critical time. And the Fintechs – they just keep on growing. We look at the importance of both digital platforms and cash payout networks as the sector deals with its biggest changes since the rise of smartphones.”
“China has been a leader in the adoption of digital payments and financial services, which now pervade daily life in the world’s second-largest economy. Office workers scan QR codes to pay for their morning coffee or midday lunch, some 30% of all retail purchases are now done online, and digital payments are even replacing the red packets of cash given to family and friends during the Lunar New Year holidays.”
Looking to make your own Fintech news?
Have you heard of any new Fintech companies we should know about? Any other Fintech news we may have left out can be dropped in the comments below!