If you’re a millennial or Gen-Z, you must have heard of the term Neobank, and if not, at least the term Fintech very generously used in the last few years. Fintech is the integration of technology into financial services with the goal of easing various traditional financial processes and services for the end consumer. The technology used can range from artificial intelligence and blockchain to cloud computing and big data. But all this can seem like fancy, abstract words to the new-age reader.

More than a third of students find themselves running out of money before the end of term, with almost 1 in 5 (18%) students relying on their grant, hardship loan, bursary or scholarship to pay their rent

A new payment solution can help reduce the time students have to wait to receive these payments.

FIS has launched a new central infrastructure payment solution, RealNet Central, to help central banks transform their markets to digital-first, real-time payment economies.

Asia’s largest private market exchange ADDX has launched a cash management tool that allows investors with excess funds in their wallets to earn interest, instead of letting their cash sit idle. Named ADDX Earn, the solution aims to withstand short-term volatility while preserving capital. 

World Finance,  the voice of the market magazine, awarded  ICS Financial Systems Limited (ICSFS)’ Group CEO & Managing Director; Robert Hazboun, in its World Finance Summer 2022 edition, under the World Finance - Islamic Finance Awards 2022, for his Lifetime Achievement in Financial Technology Innovation.

In July, the fast-growing Swedish fintech Moank launched savings accounts with a state deposit guarantee. The unique offering is called Moank Flex.

World trade exceeded $28.5 trillion in 2021, and global e-commerce has played a significant role in achieving this target by reaching a level of $4.9 trillion, equivalent to 17% of the total global trade, according to a UNCTAD report. This is an eye-opening stat, but how the internet economy blows up is true.  

Capital on Tap Has Secured a £200M Funding Facility

Partnerships 

Wearable Tech Pioneer DIGISEQ Partners with AdornPay to Bring Passive Wearable Payments to the Netherlands

NearPay, a crypto finance protocol, has officially launched virtual crypto cards and its Wallet for iOS and Android to bring the modern digital banking experience to the world of crypto.