Mool Nets a Seed Round of Funding from NextGen Technology Fund
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Sezzle Announces Integration with Customer Platform Klaviyo
Nowadays, digital technology is increasingly integrated into the full process of financial services, and we have become accustomed to the "cashless" convenience brought by mobile payments. As pointed out in the FinTech Development Plan (2022-2025) issued by the People's Bank of China, the digitalization of the financial industry has gone beyond multi-point breakthroughs and entered a new stage of ramping up development.
Choosing the right payment orchestration platform is not for the faint of heart. And no wonder: switching from a payment platform is often quite painstaking due to the enormous amount of data processed and stored inside the software making the move almost impossible (or at least extremely expensive and time-consuming). Thus, it's crucial to choose it right the first time.
Future FinTech Group Inc., a blockchain application technology developer and a fintech service provider, announced today that on August 16, 2022, FTFT UK Limited ("FTFT UK"), a company organized under the laws of United Kingdom and a wholly owned subsidiary of the Company received approval from the Financial Conduct Authority ("FCA"), a financial regulatory body in the United Kingdom, to acquire Khyber Money Exchange Ltd. ("Khyber Exchange").
The adoption of cloud technology in the financial services industry has accelerated in recent years as firms seek to become more flexible,adaptable, and capable of delivering digital services to meet customer needs and facilitate remote work. In 2021, the European Cloud User Coalition (ECUC), consisting of some of the continent’s biggest banks, was formed to accelerate the adoption of off-premises technologies in financial services.
Sumsub has been named a FrontRunner in Top Risk Management Software by Software Advice in its 2022 FrontRunners report. Software Advice is a leading online company that helps businesses navigate their software buying journey. Sumsub KYC/AML Platform has earned an overall rating of 4.7 (out of 5).
The FCA has warned firms that offer Buy Now Pay Later (BNPL) products that although some agreements are unregulated the financial promotions of all BNPL products must comply with the financial promotion rules.
Unauthorised firms face criminal charges if they do not have an FCA-authorised firm approve their financial promotions. Authorised firms must also ensure that all promotional advertising comply with the FCA guidelines, unless an exemption applies.
UK-based fintech Revolut announced it will start giving consumer loans in Romania, its second biggest market worldwide. Revolut has over 2 million users in Romania, representing about 10% of its worldwide clients.