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 […]
FinTech
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 […]
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advancements in the Fintech industry have grown tenfold, the legacy 20th century business models in finance have grown out-of-date, with many not even adapting to […]
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. […]
The Republic of Sudan has officially joined the “Better than Cash Alliance,” a UN Capital Development Fund initiative, in an effort to encourage the use of digital payments. The move aims at facilitating urgent aid needed to fend off the Covid-19 pandemic within the country, while forming a more inclusive financial ecosystem for people that […]
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 […]
Fintech Saudi in partnership with Flat6Labs, a regional startup accelerator, are launching a Fintech accelerator that consists of an intensive innovation and entrepreneurship program spanning 3 months. The partnership brings together Fintech Saudi’s market reach as well as Flat6Labs’ experience and resources to provide 10 startups with all the tools, practices, and resources to scale […]
The banking industry has drastically changed over time, money transfers that used to take a number of business days can now be done in milliseconds with a tap of a button. Small exchanges of everyday goods to massive fortunes can now be sent zipping across continents. All matters of trade and commerce has been rendered […]
Since the spread of the COVID-19 pandemic, Myanmar has seen significant growth in the Fintech market. To encourage social distancing, payments have been made through the internet. On April 27, 2020, the Myanmar Government launched, “The COVID-19 Economic Relief Plan”. Under this plan, the government distributed $22.78 to vulnerable households via Fintech applications such as […]
The AMTD Singapore Solidarity Fund has awarded five Asian Fintech companies with funding – a total of $8.4 million. In a statement released on September 14, 2020, The AMTD announced it has chosen to invest in Fintech platforms spanning across artificial intelligence, SME financing solutions, insuretech, cross-border payment platform, and card payment solutions. Fintech platforms […]