The International Center for Strategic Alliances (ICSA) proudly announces the 18th  Edition of the Connected Banking Summit – Innovation & Excellence Awards - West Africa 2024, set to take place in the vibrant city of Accra, Ghana, on November  18-19, 2024. This premier event promises to deliver two days filled with cutting-edge insights, dynamic discussions, and unparalleled networking opportunities. 

Transforming the Future of Banking 

 A new study from Tribe Payments, the pioneering digital payments and infrastructure orchestrator which specialises in issuer and acquirer processing, has revealed that 28% of merchants’ legacy in-person point of sale (POS) systems cannot support alternative payment methods like digital wallets and QR codes.

Mollie, one of Europe’s fastest-growing financial service providers, today announces its official launch in Italy, marking a significant milestone in its mission to make payments and money management effortless for every business in Europe. The expansion will enable Italian businesses to access a single platform designed to simplify payment processing, reporting and fraud prevention.

Global information and insights company TransUnion has expanded its long-standing relationship with LexisNexis® Risk Solutions, a leading provider of insurance data and advanced analytics, to offer TransUnion’s Affordability Report to U.K.

Unlimit, the global fintech company, has today announced its partnership with Pagaloop, a prominent Latin American B2B payments and cash flow management platform. The partnership will focus on strengthening the Pagaloop app’s credit and debit card processing capabilities and ensuring high approval rates to facilitate the company’s continued expansion in the region.

EXA Infrastructure has announced the launch of the EXA Financial Network, a new platform that will connect major financial exchanges across North America and Europe. The largest owned infrastructure platform of its kind will connect 25 exchanges across 11 countries, representing over 60% of global market capitalisation.

Spendesk, the complete spend management platform, announces it has been awarded the International Standards Organisation (ISO) 27001:2022 certification for the security of its services. 

In today’s fast-paced industry, partnerships between fintechs and traditional banks are fundamentally transforming the lending industry. These collaborations are not just about combining resources; they represent an opportunity to attract and serve a broader range of borrowers while helping to develop more resilient loan portfolios for lenders. By leveraging new advances in technologies like data automation and AI, these partnerships can also enhance risk assessment and faster decision-making, boosting financial wellness for borrowers.

Today, the Consumer Financial Protection Bureau (CFPB) released a study revealing significant disparities in how lenders treat Black and white small business owners seeking loans. The research found that Black entrepreneurs received less encouragement to apply for a loan and were more frequently steered toward alternative loan products compared to white shoppers with similar or weaker business credit profiles. While focused on specific testing sites, this research provides insights into potential lending disparities that warrant further exploration.