Mastercard has entered into a partnership with Qover, the insurtech firm based in Brussels, initiating a new service in Belgium and Luxembourg that automates return shipping costs for credit cardholders. This feature is a timely innovation, responding to the surge in e-commerce activities within the region; notably, Belgian e-commerce penetration hit 90% early in 2024,…
Lean Technologies, a Riyadh-based FinTech infrastructure platform, has raised $67.5m in its latest Series B funding round. This financing was led by General Catalyst, a prominent Silicon Valley venture capital firm known for supporting high-growth tech companies. The funding round also saw participation from several major investors, including Bain Capital Ventures, Stanley Druckenmiller’s Duquesne Family…
German sustainable banking startup, Tomorrow, has raised just below €5M in new funding. Existing investors Abacon Capital, ETF Partners and Kopa Ventures participated in the round IFB Innovationsstarter. To funding will be directed towards customer acquisition and develpoing its software, including expanding its range of banking products. The startup is known for collaborating with customers…
International money transfer company, Wise, hass reported a 25% increase in active customers to 11.4 million in the six months to September 2024, marking a 2.8-times expansion in its customer base over four years as the fintech deepens its integration with domestic payment systems. The London-based firm, which offers cross border payments and multi-currency accounts,…
Singapore and Rwanda are partnering to host the Inclusive Fintech Forum (IFF) 2025 in Kigali from 24-26 February. The event, organized by Singapore’s Global Finance & Technology Network, Rwanda’s Kigali International Financial Centre (KIFC), and the National Bank of Rwanda, aims to leverage technology for economic inclusion. Launched at the Singapore Fintech Festival 2024, IFF…
Visa is injecting fresh funding into four startups that graduated from the first batch of its Visa Africa Fintech Accelerator program. The investments highlight Visa’s dedication to driving digital innovation within Africa, according to a Wednesday (Nov. 6) news release emailed to PYMNTS. In doing so, the payments giant aims to foster the development of…
The financial industry is undergoing a seismic transformation, with artificial intelligence and fintech reshaping everything from regulatory compliance and customer experience to counter-fraud measures. Across the globe, banks are adopting generative AI and machine learning to drive innovation, reduce costs, and enhance security. Saudi Arabia is emerging as a key player, with local tech companies…
Fintech firm FIS posted a 37% rise in its third-quarter profit on Monday, driven by increased demand at the banking and payments processing unit and for its capital market solutions. A shift toward digital and online banking services has significantly increased demand for FIS’ banking and payment processing solutions. Small and mid-sized banks, in particular,…
The ninth edition of the Singapore FinTech Festival will kick off next week from 6 to 8 November 2024. This year, Artificial Intelligence (AI) and quantum technology will take centre stage, underscoring their transformative potential for the financial sector. With rapid advancement in the adoption of AI and in quantum technology, SFF 2024 offers a unique…
The FDI boom is a product of Saudi Arabia’s ‘Vision 2030’ plan, first announced in 2016. Driven by a desire to diversify away from hydrocarbons, Saudi Arabia is looking to transform its economy by nurturing new industries, attracting investment and positioning itself as an early adopter of advanced technologies. One area that Saudi Arabia is…
