Fintech has transformed the way businesses operate and the way customers deal with banks, connect with services and make transactions. As such, global fintech is expected to grow progressively and reach a market value of approximately $305 billion by 2025, climbing at an annual rate of about 22.17% over the forecast period 2020-2025, according to […]
FinTech
As the world currently heads into the second wave of Covid-19 pandemic, many countries have begun instilling new restrictions and rules to curb the rising number of infections. This is considered a nightmare for countries like Indonesia, which heavily relies on small and medium enterprises (SMEs) to carry their economy forward. SMEs contribute a total […]
Almost a week from now, millions of online shoppers will flock to spend on the world’s biggest online shopping festival: Singles’ Day. According to a report by US-based consulting firm Bain & Company, online shoppers in China spent a whopping 410 billion yuan (US$60.4 billion) in 24 hours last year – double what Amazon generates […]
HONG KONG (AP) — Stella Su, who lives and works in Shanghai, has used an ATM only once in the past year. Instead of cash, in recent years she has done almost all her business using the digital wallet Alipay –- shopping in a mall, buying stuff online or transferring money to friends. “Now when […]
The world’s largest fintech company, China’s Ant Group, will try to raise nearly $35 billion in a massive public offering of stock that would shatter records. Alibaba-affiliated Ant Group, which operates a suite of financial products including the widely-used Alipay digital wallet in China and one of the world’s largest money market funds, will hold […]
The rapid advancements of fintech is shaping the world of finance and impacting many industries. Fintech in India is one of the fastest-growing markets, as well as the world’s largest, according to the Research and Markets report. Globally, the fintech implementation rose to over 60%, according to Ernst & Young report, of which a major […]
Financial services have always been the nervous system of the global economy, a critical system that must always provide effective and equitable services for social cohesion and enhanced development. While advancements in the Fintech industry have grown tenfold, the legacy 20th century business models in finance have grown out-of-date, with many not even adapting to […]
“Order out of chaos”, defines what happened in Zimbabwe when the economic crisis prompted the rapid adoption of mobile money, after going through a harsh decade of economic crises, which included currency instability, hyperinflation and a collapse of the formal financial system. However, at a time when mobile money transfers are most needed, Zimbabwe has […]
We can all agree that this year has witnessed unprecedented levels of disruption across all industries and human activity all around, and the financial sector was at the top of them. Banks all over the globe closed their doors, at least temporarily, experiencing slowdowns and hiccups due to the rapid spread of the Covid-19 pandemic. […]
Japanese tech giant NEC buys Swiss Avaloq, Europe’s largest banking software developer, for 2.05 billion Swiss francs ($2.2 billion), the company said in a statement issued on Monday. “NEC will be placing great importance on building long-term relationships with Avaloq and its customers and aims to create new solutions that combine Avaloq’s software with NEC’s […]