In this issue of FinTech Weekly, we spotlight the financial sector's tech-driven metamorphosis. Walmart Canada and Amazon Business are redefining retail with innovative BNPL options, while JPMorgan's Onyx gears up to bring blockchain into sterling settlements. Not far behind, Minit Money pioneers the Southern African remittance scene, showcasing fintech's expanding footprint. Together, these developments capture a dynamic industry's leap towards a future where technology empowers global financial inclusivity and agility. This and much more in this number of FinTech Weekly: discover top fintech news and events, and stay ahead of the competition!
OpenAI has initiated a program that allows individuals to create tailored iterations of ChatGPT for distinct personal and business objectives, as the AI firm strives to maintain its edge in a market that's becoming more competitive.
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Dive into the advancements of Blockchain within the Banking and Financial Services sector alongside Sarang Bhoyar and Prof. Himanshu Tyagi at the Global Fintech Fest 2023.
Having a great product is only part of the journey. Software and SaaS businesses today experience a lot of frustration trying to sell their products when it comes to managing subscription plans, calculating local tax rates, handling trials, selling globally, or dealing with enterprise customers.
Guild is hiring a Business Intelligence (BI) Developer. This role is responsible for the development, implementation, production support, and performance tuning of the underlying systems and reporting infrastructure for the data warehouse and data mart reporting environments.
Despite Warren Buffett's widely recognized reservations about digital currencies, he has realized substantial returns from his stake in Nubank, a major fintech entity in South America that provides an array of cryptocurrency-related offerings. These include exchange facilities for Bitcoin and Ethereum, a Bitcoin ETF offering, and a proprietary loyalty token hosted on the Polygon blockchain. Nubank caters to a client base of over 1.35 million spanning Brazil, Colombia, and Mexico.
JPMorgan's blockchain endeavors are expanding, with its Onyx division aiming to handle settlements in sterling, building on its experience of managing over $300 billion in transactions in US dollars and euros in the past three years.
Minit Money's blockchain-based remittance application has inaugurated a new remittance route in Southern Africa, offering an economical solution for Zambians in South Africa to send money back home. This marks the app's first venture into Southern Africa, expanding upon its existing operations in multiple African countries, and builds on the historical ties of cooperation between South Africa and Zambia, especially during South Africa's apartheid era.
The Italian fintech company Qomodo has secured €34.5 million during an initial funding phase spearheaded by Fasanara Capital. Qomodo is rolling out a sophisticated array of payment options for brick-and-mortar retailers, featuring a Buy Now, Pay Later plan for necessary but unpredictable costs, thereby enhancing consumer confidence and boosting store revenues.
Venture capitalists traditionally favor B2B companies for their stability in volatile economies, capitalizing on fintech's potential to modernize outdated financial infrastructures. Yet, a daring forecast indicates a burgeoning resurgence in consumer and B2B2C fintech firms, hinting at a major upcoming shift in the industry.
Walmart Canada has partnered with Klarna to introduce an interest-free BNPL payment option, enhancing its customer experience with greater flexibility on Walmart.ca and its mobile apps, particularly as it approaches the holiday season. Meanwhile, as BNPL demand soars in Canada, Amazon Business collaborates with Affirm to roll out its inaugural BNPL service for individual business owners.