As the trusted and proven Paytech Pioneer™ uniquely focused on supporting the growth journeys of our customers and partners, nothing gets us more excited than when we see them dominating the fintech news agenda. That is why we have launched our ‘making headlines’ blog series.
Like proud parents, each month we will spotlight the biggest stories from our customers and round them up here. Without further ado, during October…
1.Fintech startup Currensea’s founders were featured in Forbes, discussing how the startup’s services were enabled by the arrival of open banking in the UK in 2018. “Put simply, under new Open Banking regulations, Britain’s major banks were obliged to allow licensed third parties to access customer accounts via secure software applications. In practical terms, this opened the door to innovation.”
2. The global leader in augmented identity, IDEMIA, launched its global fintech accelerator card programme to support fintech’s and neo banks in card issuance processes. Now, “FinTechs can leverage the capability and know-how of IDEMIA to enable card issuance into the marketplace anywhere in the world.”
3. Razer Fintech announced it is launching a virtual prepaid card targeted at youth and millennials in Singapore next January. The Razer Card, co-created with Visa, will be integrated into Razer's e-wallet platform Razer Pay and will allow users to receive cashback for all payment purchases, with no minimum spend and no capped limit for cashback.
4. Starling Bank launched its online banking portal for personal and joint account holders. Now, account holders will be able to manage their money from desktops or laptops, as well as in the app. Anne Boden, CEO and founder of Starling Bank, said: “Many customers told us they wanted to do their banking online as well as on their smartphones.”
5. Currensea was in the news again after launching its debit card for SMEs, built on open banking, to help with overseas transactions. “The first-of-its-kind debit card enables small businesses to make international transactions through their existing bank account without any bank charges and with low fees competitive with leading challenger banks.”
6. Payment solutions experts, B4B Payments, celebrated its e-money approval and the launch of a brand new office in Vilnius, Lithuania, following the launch of its Boston branch in August, marking another step on their journey to global expansion.
7. Revolut was also in the news for launching its premium metal card for business customers. “The metal cards are exclusive to those on Revolut’s paid plans, which include benefits such as foreign exchange allowances, as well as various business tools and subscriptions.” It is also reportedly close to applying for a U.S. banking license.
8. The world’s first digital smart open banking app, sync.,was selected to be part of the highly competitive first-ever Qatar Fintech Accelerator. “As part of the program, sync. plans to open an office in Qatar in the coming months. They will use it as a base to launch their Middle Eastern operations in early 2021, with a focus on the Qatar World Cup in 2022.”
9. The Central Bank of Ireland granted Modulr an EMI license to provide services to customers across the EU. “Powering the payments infrastructure of Sage, Revolut, Mode and Iwoca, Modulr’s European ambitions are hotly anticipated by the European software businesses to enable payment capabilities for their customers.”
10. And finally, WeLab Bank, Hong Kong’s first homegrown virtual bank, publicly launched using cloud-native Temenos Transact to provide a range of next generation digital services for customers to enjoy 24/7 from their mobile phones. “Designed, built and launched in less than 10 months, the fully digital bank has seen rapid take up with a reported 10,000 account openings within the first 10 days of launch.”
As you can see, it has been a great month for GPS customers and partners, with global expansions, the launch of new products, and features in leading news outlets. For more insight and fintech news, follow us on LinkedIn and Twitter.
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