In the current financial landscape, SMEs that want to survive embrace tech.October 05, 2023In this week's edition of FinTech Weekly, the narrative is clear; adaptation is not a luxury, but a necessity for survival for SMEs amidst the evolving financial landscape. From the UK's call for AI integration to the burgeoning Islamic fintech sector in Bahrain and Turkey, the drive towards embracing technology is evident. Partnerships like that between SME Finance and Okredo, and Swoop and Sage, symbolize the convergence of traditional and modern financial realms, aiming to scaffold SMEs against economic uncertainties. The discourse extends to Sibos 2023, underscoring the imperative of digitization in the financial sector. Each story unveils a facet of how SMEs are navigating through financial turbulence with a compass of innovation, highlighting not just the challenges, but the promising horizon of opportunities for those willing to adapt. This and much more in this number of FinTech Weekly: discover top fintech news and events and stay ahead of the competition. |
Sibos 2023: How can Financial Market Infrastructures advance the adoption of DLT?Jennifer Peve discusses how financial market infrastructures can help drive digitization at Sibos 2023. |
Ripple on How Businesses Can Unlock Growth with Crypto-Enabled PaymentsRipple suggests businesses use crypto-enabled payments to combat rising interest rates affecting global transactions, emphasizing three areas: currency fluctuations, expensive credit, and unequal access to financial services. |
Finance infrastructure fintech Weavr to shut open banking payments app CommaFintech firm Weavr discontinues its open banking payments app, Comma, moving towards an API-only solution, leveraging its technology in embedded finance offerings. |
Swoop and Sage Unveil Global Partnership to Revolutionize Business Funding and Cost-Savings SolutionsSwoop, a fintech specializing in funding solutions, and Sage, a leader in accounting and financial technology, have formed a global partnership to help businesses and accountants access a wide range of funding opportunities. |
SME Finance and Okredo partner on open data financing solutionSME Finance and Okredo collaborate to launch a risk-based credit pre-offer in the Baltic region, streamlining business financing processes by generating a pre-scored credit limit for Okredo’s platform users. |
Small SA businesses display resilience: Key findings from Mastercard's latest SME Confidence IndexSmall and medium enterprises (SMEs) in South Africa display resilience as 91% anticipate business growth, despite 86% expressing concerns over rising business costs in 2023. |
Islamic fintechs ‘gaining foothold after slow start’Islamic fintechs are gaining traction in Bahrain and Turkey, the only nations with a standardized open banking framework, leading to a surge in Islamic fintech development. With the continued adoption of open banking regulations, Moody's predicts the sector will expand, projecting Islamic fintech assets to exceed 1% of the global fintech industry by 2025. |
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