China’s FinTech industry is incomparable to the rest of the world. It is home to eight of the world’s leading FinTech unicorns, with an average value of $26.8BN – eight times greater than the average value of North American FinTech unicorns.

The future of finance is open. But not because of Open Banking legislation, but because the internet has unshackled information flows. In the future, financial information will flow horizontally across an ecosystem, rather than vertically through an integrated value chain; finance will be embedded into everything from ecommerce to homebuying.

Open banking legislation has been a helpful catalyst

The US-based fintech has teamed up with Mastercard for its new card network. Currently, SoFi offers a debit card product to users as part of its SoFi Money product via a partnership with Visa, but under the new deal, the cards will now run on Mastercard's network.

In addition to issuing new cards to existing cardholders, SoFi is adding new benefits to its offering, including cash-back rewards, free cell phone insurance, and discounted airport concierge services. The fintech is also planning to launch a credit card with Mastercard.

 ARM Insight, the leading provider of actionable insights from financial data, today announced the availability of registration for the company’s upcoming launch of its Enlightmint research tool. Qualified equity analysts and portfolio managers may now register to be one of the first to take advantage of the tremendous insight provided through millions of consumer transactions across more than 1,600 companies and 430 tickers.

Leading digital money platform Uphold today introduces zero-commission trading on cryptocurrencies in a milestone for the industry designed to open up affordable access to one of the world’s most important new asset classes for millions of retail investors.
 

Patrick De Schutter, the Chief Executive and Co-founder of Mailfence recently talked to PreciseSecurity.com regarding the firm’s operations. Schutter addressed market experience since Mailfence began operations in 2016. He highlighted why email encryption matters in the wake of privacy invasion by big firms like Google, Microsoft, and Apple.

Analysis from global consulting partnership Kearney has found a growing appetite for point of sale (PoS) credit finance – otherwise known as ‘buy now, pay later’ –  among younger UK consumers, with over 60% (67%) of Millennials now using this service.

While 42% of Millennials have used a ‘buy now, pay later’ service more than once in recent years, they’re not the only shoppers using these services. A majority of consumers in Generation X (57%) have also used this type of at-checkout finance, with over a third (34%) having done so more than once.

Path Solutions, a worldwide provider of Sharia-compliant financial technology solutions, has announced that it signed Al Khaleej Bank in Sudan to its core banking platform. 

Asset managers are increasingly acting to adopt resilient oversight and contingent NAV solutions, in the face of ongoing regulatory attention and maturing automation solutions. This is according to new research from institutional fintech firm Milestone Group, who have been directly engaged in developing these capabilities for the global investments industry.