The First Neo Financial Institution in KSA; Loan Financing Company (LFC), a newly-established microfinance company in the Kingdom of Saudi Arabia, has selected ICS BANKS Digital Platform, a worldwide digital Shari’a compliant software solution, from 

The average credit card holder in the UK believes they will continue to use a physical card for just 9 and a half more years, according to a new report, Plastic surgery: Are credit cards being reinvented, from personal finance comparison site finder.com.

Babel Finance Raises $80 Million in a Series B Funding Round, Valuation Hits $2 Billion

Partnerships 

Phundex Limited and Gibson Strategy Formed a Strategic Alliance

Formance, a French fintech startup that provides organisations with a "low-code" template for tracking payment flows in real time, has secured $3,1 million from Hoxton Ventures, Frst, Y Combinator, and a number of business angels. 

Fomance, which was founded in 2021 by Clément Salaün and Anne-Sybille Pradelles, provides pre-built, fully-customizable use-case templates for the tracking of financial flows between pay-ins and payouts. 

SME Bank, the bank making life simpler for small- and medium-sized enterprises, has partnered with next-generation payment infrastructure provider kevin. to create an easy-acce

Sky News reports that the British AI-based personal finance chatbot Cleo has been valued at $500 million thanks to a $80 million fundraising round. 

Sofina, a tech investor, participated in the financing, which occurred around 18 months after a $44 million funding round, according to Sky. 

UK Digital Bank Kroo is delighted to announce they have been granted their full banking licence by the Bank of England. Kroo is only one of 2 banks to have been granted a Banking Licence with a personal current account since August 2016. Kroo launched its prepaid offering using state-of-the-art tech to ensure a fully mobile experience in February 2019 and has built a customer base of 23,000.

More than seven out of ten (71%) of executives working for buy-side financial services firms across the UK, US and Asia say their organisation uses more than five ESG data sources. The average number of sources used by these businesses is 9.3, with the US using the most (9.7) and Asia with the least at 8.9.

Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds advised by Apax Partners, today announced that Banque Populaire de Mauritanie (BPM), one of the largest financial institutions (FIs) in Mauritania, has gone live with the R14.5 version of iMAL, Azentio’s Core Banking Platform, to meet the multiple technology requirements imperative for its planned business gr