Despite all of the supposed innovation in fintech over the last decade, literally, all of the startups and top players alike rely on just a handful of banks to actually power their backend. It's insane that the $100 billion+ fintech and payment industry that powers our whole economy relies on basically five banks and two centralized networks. 

And we just saw what happens when one of them fails. The smallest one!

TabaPay, the leading instant money movement platform, announced today that it's the 6^th largest card-not-present (CNP) acquirer based on total purchase transactions and 5^th by dollar volume. TabaPay was also recognized as the 20^th largest merchant acquirer in the U.S.

Glia, unifying digital, phone and automated customer interactions on a single platform, has created a new executive leadership position, appointing Jay Choi as its first Chief Product Officer. This newly created role oversees product strategy, product management and product marketing under a single product team working closely with engineering leadership to advance Glia's position as the leading Interaction Platform.

G2 has ranked Sumsub as a Leader in Identity Verification Software in its Spring 2023 Report, based on verified client reviews.

Invenda Group AG, the leader in next-generation automated retail, today announced a new partnership with Adyen, th

Linedata, a global provider of asset management and credit technology data and services, announces an extension of its agreement with Refinitiv an LSEG business and the evolution of the Data Hub data management system.

Billtrust, a B2B accounts receivable (AR) automation and digital payments market leader, surpassed $100 billion in payments volume in 2022, a 35% year-over-year increase and a first for the company. In addition, with CFOs and finance leaders seeking to bolster their financial resilience amid an economic downturn, Billtrust’s client base grew to exceed 2,400 customers globally, as Billtrust enabled them to present over 423 million bills to 13 million buyers.

iDenfy, a global RegTech startup offering AI-based ID verification and fraud prevention tools, announced partnering with SI Tickets, a  fan-first ticketing marketplace by Sports Illustrated. iDenfy will help SI Tickets enhance security through a user-friendly and compliant identity verification process.

Consumers are facing something of a perfect financial storm. 

Fuelled by inflation and compounded by rising interest rates, the cost-of-living crisis is hampering people’s ability to service debt at a time when many will need to borrow more to make ends meet. A trend that inevitably will lead banks to tighten their lending boundaries. 

In today's world, financial literacy is more important than ever before. The complexity of the modern financial landscape has left many consumers overwhelmed and uninformed, leading to poor financial decisions and increased financial stress.